Home / Knowledge / News / Textiles / PTA trends to remain at low level in short term

PTA trends to remain at low level in short term

09
Jun '10
The most active contract 1009 at Zhengzhou PTA futures market maintained low-level shocks for most of the day on June 8, and finally ended at 7,116 Yuan / ton, up 0.11 percent.

As raw material prices collapse, downstream polyester and polyester filament markets slightly declined, PTA market lacked good news, and therefore, the market is expected to remain at low level in the short term.

Crude oil futures at the New York Mercantile Exchange (NYMEX) moved higher on June 8. July contract of light sweet crude at New York Mercantile Exchange rose 55 cents or 0.8 percent to US $71.99 a barrel. ICE Brent crude futures settled up 18 cents or 0.3 percent to US $72.30 a barrel.

Asian PX closed at 869.00-870.00/ ton (FOB Korea) and US $887.00-888.00/ ton (CFR Taiwan) on June 7, down $41 from the previous day.

The PTA spot market in East China was flat. Few offers were quoted at 6950-7000 Yuan / ton, market inquiries increased, actual negotiations were around 6900-6950 Yuan / ton, but firm offers were minimal.

Asian PTA market too was flat. Offers for Taiwanese goods were around $835-840 / ton, market inquiries increased, actual negotiations were about $825/ ton, talks for spot prices of PTA from Korea were around $805/ ton.

Semi-dull polyester chips in Jiangsu and Zhejiang Provinces remained sluggish, offers from mainstream factories were around 9,000 Yuan / ton (3-month acceptance) and mainstream talks for cash payment were around 8800-8900 Yuan / ton.

Polyester staple fiber market weakened, mainstream offers were around 9750-9850 Yuan / ton, and talks for shipment were at 9500-9600 Yuan / ton. Polyester filament market was under weak consolidation.

Currently mainstream talks for POY were around 10,200 Yuan / ton, polyester FDY was around 11,350 Yuan / ton, polyester DTY was around 11900-12000 Yuan / ton.

In plant news, the Far East Petrochemical in Shaoxing shut down PTA production line on June 4 for two-week routine maintenance, its production capacity is 600,000 tons / year, which was on full load operation before the close.

The maintenance is estimated to cost the company a loss of 25,000 tons in PTA production. In addition, the company also plans to close another PTA production line in June, but the time has not been determined yet.

Fibre2fashion News Desk


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Retailers need to show true partnership with supply chains

The ongoing COVID-19 crisis has thrown up an unprecedented challenge...

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Brands & Suppliers: Caught in a bind

Brands and retailers are in a bind: they have to deal with store...

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Pak garment units exempted from lockdown, start production

Pakistan’s garment industry has started production following a...

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Laksheeta Govil,

Laksheeta Govil

Founded in 2014, Fizzy Goblet is a Delhi / NCR based handcrafted leather...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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


April 2020

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


Advanced Search