Home / Knowledge / News / Textiles / PTA futures continue to decline

PTA futures continue to decline

04
Sep '09
Affected by overnight plunge in Paraxylene (PX), futures contracts of PTA also plunged. The most active 'Contract 910' opened 170 Yuan lower than its closing on September 1 and then stayed put at 7,260 Yuan per ton.

By the end of the day, the contract declined quickly under selling pressure and was down by 300 Yuan, when compared with the closing of the previous day. Trade volumes were narrow and open positions increased.

In the spot market, due to continued drop in futures, Asian PTA prices continued on a downward trend and offers for spot goods weakened to 7,300-7,400 Yuan per ton, but buyers were still adopting a wait-and-watch attitude.

Overseas offers for PTA fell to US $880 per ton, but despite that buyers had a different view point and quoted counteroffers at around $850-860 per ton. Asian PX plummeted by $45 to $960 per ton FOB Korea overnight.

On the consumption side, capacity utilization of PET plants remain unchanged, polyester fiber market continues to be poor, production and marketing of polyester plants were impeded and fabric factories were not active in purchasing materials.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Aug 2019

US-China trade war uncertainty could cost $585 bn by 2021

Uncertainty arising out of the US-China trade conflict could lower...

Pic: Shutterstock

Apparel/Garments | On 22nd Aug 2019

Myanmar's export earnings from CMP garments rise by $1 bn

Myanmar's cut-make-pack garment industry earned over $3.8 billion...

Pic: Shutterstock

Textiles | On 22nd Aug 2019

Cotton prices drop for 10th consecutive week in Brazil

Cotton prices continued to fall in the Brazilian market for the 10th...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Kuldeep Pareek,

Kuldeep Pareek

Italian company Schoch Reeds has been producing high-quality weaving reeds ...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search