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SunSirs: Cost Support Was Weak, Spandex Prices Dropped Slightly
November 29 2023 10:11:31SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic spandex market recently experienced a slight decline. As of November 27th, the price of 40D spandex was 32,950 RMB/ton, a decrease of 0.15% from November 20th and a year-on-year decrease of 10.35%.

Analysis review

The pure MDI market was weak and volatile, with mainstream spot negotiations in the East China region reaching 21,200-21,400 RMB/ton for self delivery in barrels, down 300-400 RMB/ton from mid November. The digestion of imported goods was slow, while domestic goods were still tight. The overall mentality of traders was poor, and downstream inquiries were light. The overall operating rate of the PTMEG industry was around 82%, with prices mainly stagnant. The quoted price for 1800 molecular weight was maintained at 21,000 RMB/ton.

Downstream domestic sales of autumn and winter fabrics and lining materials still sold well, with a small number of orders for domestic spring and summer fabrics and a small number of orders for foreign trade. However, due to the relatively high inventory pressure on conventional grey fabric in spring and summer, there was no significant improvement in the market. There was a strong wait-and-see sentiment on the demand side, and the transaction atmosphere was average. Against the background of the off-season, the expected demand weakened, making it difficult to improve the fundamentals of sufficient spandex supply, and the market supply pressure remained unchanged. The comprehensive operating rate of Jiangsu and Zhejiang weaving had partially rebounded, and as of November 23, the comprehensive operating rate of Jiangsu and Zhejiang weaving was over 75%.

Market outlook

SunSirs’ analysts believe that cost support was weak, and the pressure on spandex factories to ship was relatively high, mainly actively shipping. Near the end of the month, there may be a phased procurement of raw materials from downstream, and the spandex market may experience a weak and stable adjustment in the short term.

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