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Chinese PTA spot prices post minor rebound
23 May '11
1 min read
In the previous week, PTA spot price showed a slight rebound and negotiated price in East China was around 9,650 Yuan / ton, up 150 Yuan / ton or 1.58 percent compared with the beginning of the week, and an increase of 20.4 percent year on year.
PTA futures also showed a slight rebound, contract TA109 closed at 9,630 Yuan / ton, up 238 Yuan or about 2.53 percent compared with the beginning of the week.
Although PTA has rebounded slightly, due to increase in crude oil price and also due to replenishment demand from downstream sector, short-term market trend is still expected to remain weak.
Weaving and texturizing enterprises held low supplies of polyester filament yarn in the past few days, so these enterprises made moderate purchases in the week.
PTA futures also showed a slight rebound, contract TA109 closed at 9,630 Yuan / ton, up 238 Yuan or about 2.53 percent compared with the beginning of the week.
Although PTA has rebounded slightly, due to increase in crude oil price and also due to replenishment demand from downstream sector, short-term market trend is still expected to remain weak.
Weaving and texturizing enterprises held low supplies of polyester filament yarn in the past few days, so these enterprises made moderate purchases in the week.
Fibre2fashion News Desk - China
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