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SunSirs: Downstream Factories Had Low Enthusiasm for Stocking, and Spandex Prices Slightly Declined
July 28 2023 09:55:46SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic spandex market continued to slightly decline and adjust recently. As of July 27, the average price of 40D spandex in the market was 33,500 RMB/ton, a decrease of 0.37% compared to July 17. The raw material prices were still at a high level, and the spandex industry had suffered losses, while the operating rate remained low. As of July 27, 2023, the domestic spandex industry as a whole had started construction at around 72%.

Analysis review

The focus of the domestic pure MDI market was strengthening, and the market supply was still relatively limited. Despite the weak demand side boost, prices remained firm. The overall operating rate of the PTMEG industry was around 75%, with a slight rebound. As of July 27th, the price had temporarily stabilized, and the quotation for 1800 molecular weight PTMEG was referenced at 19,500 RMB/ton.

As of July 27th, the impact of high temperature power restrictions was not significant, but some downstream factories had experienced a decrease in load due to the drag of the capital chain, and the operating rate of terminal Jiangsu and Zhejiang looms had slightly decreased to below 65%. The factory had low enthusiasm for stocking and a strong wait-and-see attitude. The order situation of weaving factories was difficult to improve, and most of them focused on producing winter fabric for inventory.

Market outlook

Analysts from SunSirs believe that as of the 27th, there was still support from cost benefits, but downstream, with high raw material prices and cautious procurement, the main focus was on consuming early inventory. In the short term, the spandex market price will be in a stalemate pattern.

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

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