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Chinese PTA import & domestic trends soften
Mar '11
Domestic market conditions of PTA in East China continued to weaken on February 28. Market offers fell to around 11,350 Yuan / ton. Downstream inquiries were around 11,250 Yuan/ ton; actually negotiated price was 11,300 Yuan about / ton.

The market was covered with wait-and-see sentiment and actual negotiation was scarce.

PTA market conditions in North China too softened. Market offers were around 11,600 Yuan / ton, downstream counteroffers were around 11,500 Yuan / ton, and actually negotiated prices were around 11500-11550 Yuan / ton.

Downstream manufacturers were careful towards committing new purchases. The market was covered with strong watching sentiment and actual transaction was scarce.

Spot market of PTA imports too was weak on February 28. Initiative offers were rare in the market, sporadic offers for Taiwanese goods were around US $1470-1480/ ton, downstream counteroffers were below US $1470/ ton, and actually negotiated prices were around US $1470-1475/ ton.

Offers for goods made in South Korea were US $1,460 / ton; downstream counteroffers were around US $1,455 / ton. Holders were reluctant sellers at cheap price, market trade was light, actual negotiations were limited.

Fibre2fashion News Desk - China

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