Home / Knowledge / News / Textiles / PTA futures fall on news of likely cut in Spanish sovereign rating
PTA futures fall on news of likely cut in Spanish sovereign rating
17
Dec '10
PTA futures contract 1105 at Zhengzhou Commodity Exchange fell 1.02 percent to close at 9,752 Yuan per ton on December 16, due to poor sales of downstream products and likely to be lowered Spanish sovereign rating.

January crude futures at the New York Mercantile Exchange (NYMEX) rose by 34 cents to settle at US $88.62 a barrel on December 15. Moody's said it may cut sovereign rating of Spain, which caused worries over the debt situation in the Euro zone.

In Shenze fiber market, PTA price fell, MEG price declined, prices of semi-dull polyester chips and super bright polyester chips were stable, CDP chip price stabilized, PET bottle chip was stable.

Semi-dull polyester chips were offered at 11,300 Yuan / ton in terms of cash payment, bright polyester chips were quoted at 11,200 Yuan in terms of cash payment, trade price of CDP slice in spot market was 12,400 Yuan / ton (to be delivered to buyers within 6 months in terms of acceptance) and transaction price of PET bottle chips was 11,800 Yuan / ton (to be delivered to buyers).

Downstream consumers of polyester filament were very cautious and lacked purchasing power. Texturizing factories were cautious in procurement of raw materials, trading atmosphere of polyester filament was light, trade volume reduced.

Production and sales of spinning plants were mixed and stock pressure of polyester filament increased and spinning fiber plants put their focus on making shipment.

Fibre2fashion News Desk - China


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Urmil Arya

Sushila International, a well established textile organisation established ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search