Home / Knowledge / News / Textiles / PTA futures close higher

PTA futures close higher

26
Jul '10
The most active contract 1009 at Zhengzhou PTA futures opened at 7,182 Yuan / ton on July 23 and touched a high of 7228 Yuan / ton, a low of 7162 Yuan / ton to finally close 7200 Yuan / ton, 88 Yuan higher than the settlement price on July 22.

Asian PX closed at US $847.50-848.50/ ton (FOB Korea) and $862.50-863.50/ ton (CFR Taiwan) on July 22, up $1 from the previous day.

In the Chinese domestic spot market, market sentiment of PTA in East China was light; offers for spot were around 7,100 Yuan / ton, market traders showed poor interest, buyer's inquiries were light. Mainstream talks were towards lower-end of 7000-7050 Yuan / ton range.

PTA spot in Asian market set back, a few offers for Taiwan produced goods stood around $855-860/ ton, a few inquiries were at about $850/ ton, talks focused towards lower-end at $850-855 / ton range, but, however, firm offers were light.

In the downstream market, despite rise in crude oil prices, semi-dull chip markets in Jiangsu and Zhejiang were still stable on the day, most factories were adopting a watch and wait sentiment. Offers were mostly in the range of 9000-9100 Yuan / ton (by cash or by three-month acceptance) with actual negotiations ranging between 8950-9050 Yuan / ton.

Mainstream offers from polyester staple fiber manufacturers were reported at 9400-9500 Yuan / ton, actual negotiation level was 9250-9500 Yuan / ton. Trends in polyester fiber markets in Jiangsu and Zhengjiang were mixed.

Fine denier POY and FDY still had demand, while coarse denier FDY softened, DTY provided more discount in offers. Present price of polyester POY in mainstream discussion marked 11200-11250 Yuan / ton; polyester FDY was reported at 12,100 Yuan / ton, polyester DTY stood at 12500-12650 Yuan / ton.

PTA is still difficult to reverse the temporary situation of oversupply judging from a fundamental perspective, as international crude oil rises sharply, PX spot is flat, spot market and downstream market increase slightly amid basic steadiness.

Fibre2fashion News Desk


Must ReadView All

Foreign brands competing with local clothing companies in Vietnam

Apparel/Garments | On 17th May 2021

Foreign brands competing with local clothing companies in Vietnam

International brands are giving tough competition to the local...

Pic: Casimiro PT / Shutterstock.com

E-commerce | On 17th May 2021

London-based global fashion platform Lyst raises £60mn

Lyst, a London-based global fashion aggregator that operates an...

Pic: Shutterstock

Textiles | On 17th May 2021

Prime Content| China cotton index may remain stable in coming months: TexPro

The China cotton is expected to remain above 16,000 RMB per ton or...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

One thing is certain, online sales will go up

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

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

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees 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


May 2021

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


Advanced Search