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Spot market of PTA imports in downturn
18
May '11
PTA market conditions in North China were subdued on May 17. The market was covered with strong wait-and-see atmosphere and cargo holders were reluctant sellers at low prices.

Some offers were around 9,550-9,600 Yuan / ton, downstream bids were around 9,450-9,500 Yuan / ton, while, actually negotiated price was around 9,550 Yuan / ton, transaction atmosphere subdued, actual negotiation was light.

PTA market price in East China appeared flat, offers from holders were around 9,550-9,600 Yuan / ton, downstream inquiries focused around 9,450-9,500 Yuan / ton, and actually negotiated price was around 9,500-9,550 Yuan / ton. Actual negotiation was moderate.

Spot market of PTA imports was in downturn, quotation for Taiwan cargo was around US $1225-1230 / ton, downstream bids were around US $1200 / ton, and actually negotiated price was around US $1215-1220 / ton.

Offers for South Korean goods were around US $1,220 / ton, downstream bids were around US $1200-1205 / ton; actually negotiated price was around US $1,210 / ton. Trading atmosphere was in the doldrums and actual negotiation was light.

Fibre2fashion News Desk - China

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