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SunSirs: Downstream Resumption and Demand Recovery Will Boost the Price of Spandex
February 01 2023 13:51:22SunSirs(John)

Price trend

In January, the market price of spandex continued to be weak, but it rebounded slightly at the end of the month. According to the monitoring of SunSirs, the average market price of the 40D specification was 35,750 RMB/ton as of January 30, up 1.06% from the beginning of the month and down 39.41% year on year.

Analysis review

In the raw material market, the price of PTMEG rose slightly in January, supported by the favorable BDO at the cost side and the maintenance of large factories in the early stage, the overall inventory pressure was not high. Therefore, before the Spring Festival, the price of PTMEG suppliers was tentatively rising, and the market negotiation evaluation of PTMEG (1,800 molecular weight) was 18,000-19,000 RMB/ton by the end of the month. On the whole, the pure MDI market was short of spot, and the suppliers were reluctant to sell, and the focus of the mainstream negotiation had shifted upward. On the 30th, the market reference price was 17,800-18,200 RMB/ton, in barrels and self-delivered.

During the Spring Festival, the turnover in Xiaoshan and Shaoxing regions of Zhejiang Province was average, and the operating rate of round machine and yarn wrapping was between 10-30%; The starting rate in Jiangsu was low, and the starting rate in the round machine and yarn wrapping market was 10-30%; The demand in Guangdong followed up slowly, and the market operation rate of round knitting machine, yarn wrapping and warp knitting was between 10-30%.The follow-up of the overall market demand had slowed down significantly. The number of holiday factories had gradually increased, and the factories that still continued to work had also completed the stock preparation. They mainly consumed the inventory in the early stage, and the number of inquiries and transactions was small. After the Spring Festival, the downstream gradually resumed work, and the demand had warmed up.

Market outlook

Analysts from SunSirs believe that at present, the spandex manufacturers' operating load has increased and the supply of goods is sufficient. The focus of raw material prices is relatively strong, and the demand will gradually recover. It is expected that the spandex market will fluctuate and rise in the short term.

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