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PTA futures display weak sentiments

08
Mar '10
In the previous week, PTA futures market sentiment was weak. On Monday, last week, PTA futures opened higher but moved lower and stock quotes of domestic goods fell to 8,100 Yuan / ton, but buyers sought in the range of 8000-8050 Yuan / ton.

Spot offers for Taiwan goods dropped to US $970 per ton, trade level fell to US $965-970 per ton, negotiation level for South Korea's goods was about US $935-940 per ton, but actual trade was weak on Monday.

On Tuesday, spot price of domestic goods fell back to 8000-8050 Yuan / ton, and buyers were looking at quotes at around 7950-8000 Yuan / ton. Offers for Taiwan's spot PTA dropped to $960 per ton and for that of Korean spot ranged in between $930-935 per ton.

On Wednesday, PTA spot remained steady at prices quoted on Tuesday. Offers for Taiwan's spot PTA pointed towards $960-965 per ton, counter-offers from buyers were about $955 per ton. South Korean PTA spot prices too stayed steady at levels attained on the previous day.

On Thursday, PTA spot continued to be weak; offers for high-quality spot mostly 7900-7950 Yuan / ton. Taiwan's spot price showed intention at about $960 per ton; counter-offers by buyers were about $950-955 per ton. South Korea's spot was offered at $935-940 per ton; however talk level was around $930 per ton.

On Friday PTA, spot market once gain fell to 7850-7950 Yuan levels, with counteroffers from buyers even more lower. Taiwan cargo were generally quoted in range of $950-955 per ton, negotiation level was around $950 per ton, discussion price for Korea's cargo was around $930 per ton.

Fibre2fashion News Desk


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