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PTA markets weaken amid dull trading
31
Mar '11
In Chinese PTA markets, another dull day was witnessed, as prices of most of the varieties continued to fall.

In North China market, PTA prices eroded further. In this segment, offers from supply holders fell to 11,500 Yuan / ton, counteroffers from downstream market were rare.

Though some inquires were around 11,400 Yuan / ton, actual negotiated price was about 11,450 Yuan/ ton. Although these were quoted rates, trading atmosphere was very dull with very few actual negotiations.

In East China, domestic PTA market weakened further with offers from holders registering 11,450-11,500 Yuan / ton. As most of the downstream firms were cautious in inquires, sporadic bids were around 11,400 Yuan/ ton.

Actual negotiated price showed some movements with price range of 11,400-11,450 Yuan / ton, transactions were negligible and actual negotiation was limited.

Even spot market of PTA imports was caught in dizziness. In this segment, offers for Taiwan's shipments declined to US $1,520 / ton while downstream bids were around US $1510/ ton. Actual negotiated price was $1,515/ ton.

For South Korean goods, offers were range bound between US $1,510 to 1,515 / ton. On the other hands, counteroffers from downstream sector were around US $1,500-1,505 / ton with actual negotiated price of US $ 1,510 / ton.

In this segment too, trading atmosphere was very dull with very limited actual negotiations.

Fibre2fashion News Desk - China

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