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PTA quotes remain stable

03
Mar '10
Zhengzhou PTA opened slightly higher on Monday, being boosted by the rebound in oil prices, but fell towards the end of the day. The main contract TA005 opened 96 points higher than overnight settlement at 8494. H

However, as the day progressed, the session weakened and fell to a session low of 8342 to finally close at 8358. Asian PX prices fell US $3.5 to $995-1000 per ton, (CFR South Korea) and European PX prices fell $5 to $980 per ton, (FOB Rotterdam).

PTA stock quotes maintained stability in Asia, inquiries for Taiwan's cargo were more active; low-end at $965 per ton and high-end at about $970 per ton, though sellers were reluctant to sell below $975 per ton.

Few offers for South Korean cargo were at US $960 per ton, sporadic negotiations focused in the range of $945-950 per ton.

PTA stock quotes remained stable in East China. Mainstream discussion level was in the range of 8200-8250 Yuan / ton, but fell to 8200-8250 Yuan / ton by midday and was more inclined towards range of 8150-8200 Yuan / ton.

As PTA demand has not yet clearly enlarged, due to which, PTA market is expected to maintain an adjustment pattern.

Fibre2fashion News Desk - China


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