Chinese PTA futures dip, import market in stalemate

The most active contract 1209 at China’s domestic PTA futures market opened higher on April 23.

However it went into a downward towards the end of the trading time. Prices showed a significant decline and ultimately closed at 8,562 Yuan / ton, down 142 Yuan / ton from April 22.

The PTA domestic spot market was in a stalemate. Sporadic offers were in the range of 8,750-8,800 Yuan / ton, but downstream bids were at 8,700 Yuan / ton.

The market of PTA imports too was in a stalemate. Sporadic offers for Taiwan-produced cargo were in the range of US $1170-1175 / ton, but negotiation level was at US $ 1,165 / ton.