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PTA surges at Zhengzhou commodity exchange
13
Oct '10
The main PTA contract 1101 at Zhengzhou Commodity Exchange opened at 8540 on October 12, and moved all the way higher during the session and finally closed at 8640 Yuan per ton, to realize an increase of 280 points, from the previous day. During the day, the contact touched an intraday low of 8452.

PTA maintained increasing trend in East China, offers from sellers rose to 8200-8300 Yuan / ton; however buyers were looking in the range of 8150-8200 Yuan / ton, transactions were moderate.

PTA import market was flat, trade atmosphere looked dull, offers for Taiwan stock were around US $1,000 / ton, and actual negotiations were around $985-990 / ton, sellers appeared to be reluctant sellers, transactions were scarce. Offers for South Korean stock stood at around $980 / ton, actually negotiated price was around $975 / ton.

The price of semi-dull chip stocks was 10,750 Yuan / ton, (to be delivered to buyers with 3 months acceptance), mainstream price was 10600-10650 Yuan / ton (payment in cash).

The price of bright chip stocks was 10,600 Yuan / ton, to be delivered to buyers with 3-months acceptance, mainstream price was 10550 Yuan / ton with payment in cash.

Spot price of CDP chips was 11,500 Yuan / ton, to be delivered to buyers with six-month acceptance. Transaction price of PET bottle chips was 10,600 Yuan / ton.

Trade volume of polyester chips was small. Market focus of polyester staple fiber moved higher, market price was 12,800 Yuan / ton. Price of viscose staple fiber rose to 21,000 Yuan / ton.

Fibre2fashion News Desk - China

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