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PTA prices splurge on weekend

17
Aug '09
PTA market showed a pattern of moving higher after a decline. The main contract TA910 opened at 8,190 Yuan per ton and then fell to about 8,100 Yuan per ton amid a weak movement.

The contract stabilized at the level and moved sideways until noon. But sometime in the afternoon, it suddenly gained in strength and futures price rose to 8,260 Yuan per ton and closed at 8,266 Yuan per ton.

PX offers from outside markets fell slightly overnight, PX in Asia declined to US $1,130 per ton, FOB Korea and PX in Europe dropped to $1025-1030 per ton, Rotterdam.

EG (Ethylene Glycol) in domestic market of East China was relatively stable, offers for large quantity were at about 6,300 Yuan per ton and enquiries for middle and large quantity from buyers were around 6,200-6,250 Yuan per ton.

PET in domestic market remained stable and strong on Friday. In Jiangsu-Zhejiang region, semi-dull polyester chips were offered at about 9,400 Yuan per ton on cash terms or three months acceptance, with a high of 9,500 Yuan per ton.

Fibre2fashion News Desk - China


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