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SunSirs: Driven by Both Upstream and Downstream Weaknesses, the Price of Spandex Was Showing a Downward Trend
December 27 2023 15:05:48SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, the domestic spandex market had been stable recently. As of December 25th, the price of 40D spandex was 32,125 RMB/ton, a decrease of 1.38% compared to December 18th, and the industry's operating rate remained around 72%.

Analysis review

The domestic pure MDI had been weakly adjusted, and the overall shipping enthusiasm of traders had increased. The mainstream market quotation had been lowered. As of December 25th, the spot reference price in the East China market was between 20,000 to 20,300 RMB/ton for self delivery in barrels, which was about 500 RMB/ton lower than the beginning of the month. The overall operating rate of the domestic PTMEG industry had been lowered to around 78%, and prices remained stable, with a molecular weight of 1800 PTMEG quoted at 18,000-18,500 RMB/ton.

As the end of the year approached, orders for the terminal weaving industry were decreasing. Considering the gradual weakening of terminal demand support, there was significant pressure on the overall inventory of products. And downstream factories lacked confidence in the future market, with a strong mentality of purchasing raw materials on dips and a strong wait-and-see attitude. The operating rates of terminal texturing, weaving, and printing and dyeing had partially declined, and the comprehensive operating rate of Jiangsu and Zhejiang weaving machines had dropped to around 73%. If orders continue to decrease, there will be a strong expectation of "load reduction".

Market outlook

SunSirs’ analysts believe that cost support was weakening, downstream demand continued to be weak, and spandex's prosperity was weakening. Driven by weak costs and demand, it is expected that the price of spandex will continue to decline in the short term.

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