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PTA prices rise amid rebound in PX demand

14
Apr '10
Zhengzhou PTA opened slightly higher yesterday, as a rebound in upstream PX market, temporarily offset high oil prices. Futures price weakened in face of pressure, intraday price fell to about 8,660 points to finally close at 8,672 points.

Prices in PTA spot market were strong, interest for Taiwan goods rebounded slightly, and sporadic offers were firm at US $995-1000 per ton, mainstream level discussion centered at around $995 per ton.

For South Korean goods, offers were quoted at $965-975 per ton, however, sellers were still reluctant to sell at low prices and discussion level was around $965 per ton. Only a small amount of firm offers, actually transformed in to deals.

Market conditions in East China were strong, sporadic offers were firm at 8,300 Yuan / ton, mainstream level in discussion was at 8,250 Yuan per ton, trading atmosphere was plain and trade volume was light.

Polyester chips in domestic market, traded in small volumes as, downstream spinning plants are adopting a wait and watch attitude for the time being. There was a correction in prices of semi-dull and super bright polyester chips.

Prices of CDP slice and PET bottle chips were temporarily stable. Spot semi-dull chips traded at 10,200 Yuan per ton, bright chips were sold at 10,250 Yuan per ton, CDP slice was traded at 10,950 Yuan per ton and PET bottle chips transacted at 10,900 Yuan per ton.

Fibre2fashion News Desk - China


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