Price trend

In September, the domestic spandex market maintained a slight upward trend. According to the Commodity Market Analysis System of SunSirs, the price of 40D spandex as of September 7th was 34,250 RMB/ton, an increase of 0.74% compared to the beginning of the month. The overall operating rate of the industry was around 72%, and the cost side was still strong, with a slight increase in downstream demand.

Analysis review

Cost support still existed, and the price of pure MDI raw materials in the East China market rose. The mainstream offer for Shanghai goods was 22,200-22,800 RMB/ton, and the market supply was limited. The overall downstream market was slow to follow up, mainly small orders. The price of PTMEG remained stable, with a molecular weight of 1,800 PTMEG was quoted at 20,000 RMB/ton, with little change in the devices.

Since mid to late August, downstream terminal weaving had shown a slight increase in textile and clothing orders. Most factories reported that winter fabrics were gradually being issued, and the operating rate of weaving machines in Jiangsu and Zhejiang had slightly increased to over 64%. At the same time, there were frequent regulatory notices related to the Asian Games recently. Due to concerns about a reduction in the overall supply of raw materials in the later stage, procurement costs would increase, and some downstream companies had concentrated replenishment.

Market outlook

Analysts from SunSirs believe that as of September 7th, cost pressures had increased and spandex factories were forced to raise prices. The demand side was slowly recovering, with raw material prices rising, but the terminal order situation had not significantly improved. The "Golden September" market remained to be watcher, and it is expected that the spandex market will be cautious and wait-and-see in the short term.

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