Home / Knowledge / News / Textiles / PTA futures stumble

PTA futures stumble

08
Feb '10
Chinese Zhengzhou PTA futures contracts stumbled lower on Friday last week, due to the impact of the drop in international oil prices overnight. Main contract 1005 opened lower and then moved upward amid shocks to finally close at 8,050 Yuan / ton, down 94 points, or 1.15 percent compared with previous settlement.

Asian markets fell US $4 per ton. FOB South Korea closed at $1,050.25-1,051.25 per ton, while CFR China settled at $1,067.25-1,068.25 per ton.

PTA spot market was flat and slipped down on Friday, East China market fell 100 Yuan / ton and offer intention from sellers fell to 7,950 Yuan / ton. In general, international oil prices plummeted, raw materials of xylene recovered after decline, providing greater bearish impact on PTA market.

Downstream demand is dwindling before the Spring Festival; therefore, it seems unlikely that PTA market will reverse the downturn situation at present. However, the decline in PTA market is expected to be limited, as some market participants expect bullish trends after the Spring Festival.

Fibre2fashion News Desk


Must ReadView All

Pic: Shutterstock

Textiles | On 8th May 2021

French Development Agency to invest $83m in Ivory Coast cotton sector

Over a period of five years, the French Development Agency (AFD) will ...

Pic: Juki

Apparel/Garments | On 8th May 2021

Japanese companies collaborate to develop sewing machine business

Juki Corporation and Pegasus Sewing Machine Mfg have entered into a...

Pic: Rocky Brands

Apparel/Garments | On 8th May 2021

Rocky Brands expands Made in America capabilities

Rocky Brands has expanded the offering of its Made in America product ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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


May 2021

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


Advanced Search