In the just concluded week, oil prices fell sharply and sales of polyester products also declined, under the influence of which, PTA spot prices rose significantly in the first half of the week, but fell back in the second half.
On July 31, sellers were quoting PTA prices at around 7,900-8,000 Yuan per ton in domestic markets, but buyers adopted a wait-and-watch attitude and counter quotes were made at 7,800 Yuan per ton.
In overseas market, offers from South Korea and Taiwan increased, seller's price gradually fell back to US $940-945 per ton, but since demand was less, the prices once again fell back to $930 per ton towards the end of the week.
For the time being, fundamentals of PTA market have seen no significant change yet and at present, integrated operation rate of domestic PTA production is at around 78 percent.
Fibre2fashion News Desk - China
marketing@alchempro.com
