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PTA spot covered by wait & watch attitude

06
Jul '10
The PTA spot market after opening on Monday morning was covered by strong watching sentiment. Spot buyers showed clear intention to accept goods around 6,950 Yuan / ton, but 7,000 Yuan / ton market met resistance.

Offers for Taiwan spot was reported at US $860/ ton, while a few offers were heard around US $855/ ton. Trade level of Korean spot was US $835/ ton (FOB, cash payment).

In the afternoon PTA futures rebounded, spot inquiries improved, bids from domestic factories were around 7,100 Yuan / ton, while sellers offered around 7,000 Yuan / ton, mainstream trade level was around 7050 Yuan / ton.

Offers for Taiwan goods were mostly around $860/ ton, bids from buyers were $850-855/ ton. Offers for Korea stock were around US $840/ ton, mainstream transactions were around US $835/ ton.

Monday sales of polyester filament were moderate, sales rate of most products was 70-80 percent, but the rate of individual factories based on fine denier POY was 150 percent or more.

Fibre2fashion News Desk - India


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