NewsFlashChina PTA futures soar above 6%, trading halted

05 November 2010 01:53  [Source: ICIS news]

SINGAPORE (ICIS)--China’s purified terephthalic acid (PTA) futures prices soared 6.02% to yuan (CNY) 10,006/tonne ($1,502/tonne) on Friday morning amid extremely bullish sentiment, forcing a trading halt for second day in a row, market sources said.

An overnight jump in Dow Jones Indexes by 1.96% spurred bullish sentiment, pushing PTA futures to hit the 6% cap set on daily swings in values in just two minutes of trade at the Zhengzhou Commodity Exchange, they said.

By: Becky Zhang
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