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SunSirs: Many Negative Factors, Chinese Spandex Continues to Decline
January 18 2022 08:51:52SunSirs(Linda)

Recently, Xiamen held a centralized start-up activity for major projects in 2022, and the Xiamen Lilong project with an annual output of 13,000 tons of spandex is listed. Xiamen Lilong's existing spandex production capacity is 18,000 tons, and a new project with an annual output of 13,000 tons of ultra-fine denier spandex has a total of 8 high-speed spinning production lines. Another leading chemical fiber company, Hengshen Synthetic Fiber Technology's spandex project is also expected to start construction this year. Hengshen spandex currently has a total production capacity of over 30,000 tons in the first and second phases. The spandex project expanded by Xiamen Lilong and Hengshen Spandex will add nearly 50,000 tons of spandex production capacity in Fujian.

In terms of price, the domestic spandex market has continued to decline since January. As of January 17, the average market price of 40D specifications was 59,600 yuan/ton, down 6.58% from the beginning of the month and up 37.01% year-on-year.

At present, the production and sales rhythm of the spandex factory is normal, and the device load is adjusted in a narrow range. The start of construction has dropped slightly by 8.3%, but it is still relatively high, and the spot supply is stable. The upstream raw material PTMEG market is weak and declining, but the pure MDI market is stable and rising, and the supporting role of the cost side is maintained. Downstream terminal customers have holiday expectations and follow up cautiously. The Spring Festival holiday of superimposed terminal textile enterprises is getting thicker, and warp knitting factories in Jiangsu and Zhejiang areas continue to reduce their burdens. Many have planned to suspend work and holiday, the order situation is not good, and new domestic trade orders are rarely heard. New foreign trade orders also decreased significantly.

The overall weakness of the spandex market is difficult to change, the load of its own equipment is relatively high, and the expectation of new production capacity is superimposed, and the pressure on the supply side increases. In addition, the terminal demand trading atmosphere is not good, there are many negative factors, and spandex is still in the process of bottom-seeking.

If you have any questions, feel free to contact SunSirs with support@sunsirs.com.

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