Home / Knowledge / News / Textiles / Zhengzhou PTA futures soften amid volatility
Zhengzhou PTA futures soften amid volatility
01
Nov '10
Zhengzhou PTA futures soften amid volatility on October 29. The main contract 1105 opened at 9,066 Yuan / ton, intraday high hit 9,124 Yuan / ton, lowest mark fell to 8,966 Yuan / ton and finally closed at 9,012 Yuan / ton, down 60 Yuan or 0.66 percent from the previous day.

Pressure on macroeconomic environment has increased, downstream sector tends to wait and watch. However, crude oil price stood above US $80 per barrel and PX price continued to rise, giving support to PTA. Spot market, downstream sector and cotton market are firm, PTA market is expected to maintain an adjustment posture, but the market still has some room to rise.

In plant related news, Shanghai Petrochemical, Ningbo Formosa Chemicals and Dalian Yi Sheng started maintenance in October. Maintenance of a number of Asian plants in September and October has affected supply of Asian PTA.

In downstream sector, MEG price fell, semi-dull chips and super bright polyester chips were under price consolidation and CDP chip price unchanged. Mainstream price of semi-dull chips was 10,700 Yuan / ton (cash payment).

Mainstream price of super bright chips was quoted at 10,600 Yuan. CDP slice in spot market was assessed at 11,550 Yuan / ton (six-month acceptance) and PET bottle chip prices stood at 10,900 Yuan / ton.

According to reports emanating from the Ministry of Commerce, China increased imports of crude oil from Saudi Arabia, Iran, Iraq and Kazakhstan in September. Imports from Saudi Arabia ranked first at 4.498 million tons, up 18 percent compared with August; those from Iran were 2.446 million tons and from Iraq, 1.41 million tons.

China's September purchase of crude oil was 35 percent over the original plan and has now become the second largest oil consumer after the United States.


Fibre2fashion News Desk - China


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search