20 October 2011 12:10 [Source: ICIS news]
The most actively traded January contract closed at yuan (CNY) 7,988/tonne ($1,252/tonne), down by CNY510/tonne from Wednesday’s settlement price, according to ZCE data.
Trading was halted 11 minutes before the end of Thursday’s session as price movement hit the daily threshold of 6%.
On the spot market side, PTA sellers rushed to offload cargoes amid falling futures prices and uncertainty in macroeconomic conditions, market sources said.
Asia PTA prices fell by $60-65/tonne (€44-47/tonne) to $1,080-1,120/tonne CFR (cost & freight) CMP (
($1 = CNY 6.38 / $1 = €0.73)
For more on PTA, visit ICIS chemical intelligence
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