The PTA spot market improved on July 26, as being driven by continued rebound pattern in stock and futures markets. Buyers bid at around 7100-7150 Yuan / ton, transactions were reached within 7000-7050 Yuan / ton. Sellers were reluctant sellers to sell high-quality supply at low price.
Offers for overseas PTA spot were around US $860-865 / tons, some buyers made counteroffers at $855/ ton; transactions were done around $855-857 / ton. One single deal was reportedly closed at $856 / ton.
As sellers were waiting for news on anti-dumping initiative, offers for South Korean spot were light, a few offers were around $840 / ton and talks were around $835 / ton.
On the contract side, settlement prices from leading manufactures were around 7250 Yuan/ ton. Settlement prices of PX, PTA and MEG from Sinopec stood at 7150 Yuan, 7250 Yuan, 5950 Yuan / ton, respectively.
Fibre2fashion News Desk - India
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