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SunSirs: Cost and Demand Were Both Weak, and the Spandex Prices May Decline
December 14 2023 11:12:21SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic spandex market remained stable in December. As of December 13th, the price of 40D spandex was 32,575 RMB/ton, unchanged from the beginning of the month and down 9.51% year-on-year. The industry's operating rate remained around 72%.

Analysis review

The domestic pure MDI market as stable, and the mainstream negotiated self delivery price for domestic spot goods was 20,500-20,800 RMB/ton. The market negotiation atmosphere was light, traders followed the market, and downstream demand was sluggish. The overall operating rate of the domestic PTMEG industry was around 82%, and the price trend continued to decline. Among them, the price of 1800 molecular weight PTMEG remained at 18,000-18,500 RMB/ton.

Entering December, terminal demand had significantly weakened, orders had decreased, and the winter replenishment market was coming to an end. Recently, the shipment speed of autumn and winter fabrics had slowed down compared to the previous period, and downstream factories had relatively poor enthusiasm for stocking raw materials, which hads dragged up the price of spandex. The downstream had a bearish attitude and the raw materials had not been digested, so the procurement of spandex was mainly based on rigid demand.

Market outlook

SunSirs’ analysts believe that the cost side was operating weakly, and downstream wait-and-see sentiment had become stronger. As of December 13th,  there was little room for improvement in demand for spandex, and there are expectations of further weakness in the future. Under the dual weak pattern of cost and demand, it is expected that there is a possibility of a decline in spandex prices in the short term.

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