Home / Knowledge / News / Textiles / Paraxylene prices continue to remain range-bound
Paraxylene prices continue to remain range-bound
05
Jan '10
Zhengzhou PTA futures moved all the way higher last week (December 28 to 31), mainly being driven by continuous rise in international oil prices. The main contract 1003 closed at 8,138 Yuan / ton on December 31, up 32 points compared with the settlement price on December 30, a rise of 0.39 percent.

However, as the market faces abundant supply and drop down in demand, PTA futures market is likely to consolidate amid shocks after the New Year's Day and it will be difficult for it to continue its strong upward trend.

Low demand could prove to be a resistance for the upward trend of PTA market. As it is near the end of the year, downstream polyester factories face pressures of repaying their loans and interest and with funds being scarce; they are showing little interest in purchasing raw materials.

Polyester chips, polyester filament, and bottle chip markets are soft, sales rate of polyester industry is only 40 percent, due to which polyester industry continues to face downward pressures. Several larger polyester plants in Zhejiang Province say that they will reduce operational rate in January, so demand side of PTA looks difficult to improve after the New Year.

Prices of Paraxylene (PX) continue to remain in range-bound conditions as supply increases steadily. Asian Paraxylene is likely to witness the danger of excess market supply in the first quarter of 2010, because PX future prices may continue to weaken.

As of Wednesday in Asian market, FOB South Korea price fell US $10 / ton to close at US $1,093.5-1,094.5 / ton and CFR China closed at $1,110.5-1,111.5 / ton.

Fibre2fashion News Desk - China


Must ReadView All

UK, EU agree to take more time for Brexit deal

Textiles | On 19th Oct 2018

UK, EU agree to take more time for Brexit deal

After an ongoing Brexit summit produced no tangible results, European ...

Courtesy: Pexels

Textiles | On 19th Oct 2018

US announces intent for trade deals with Japan, EU, UK

US Trade Representative Robert Lighthizer recently notified the...

Courtesy: Turtle Limited

Fashion | On 19th Oct 2018

'We are trying to imbibe multi-utility factor in menswear'

Turtle Limited, a leading Indian brand in menswear fashion, is trying ...

Interviews View All

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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


October 2018

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

news category


Related Categories:

Advanced Search