SunSirs: The Demand Side's Follow-up Was Insufficient, and Spandex Prices Maintained Downward in May
June 01 2023 14:06:28 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic spandex market continued to decline in May, with an average price of 33,375 RMB/ton in the 40D market as of May 30th, a decrease of 4.98% compared to the beginning of the month. The spandex market was operating in a weak situation, with sufficient supply from factories and many shipments with profit margins. The cost side support was average, and the demand side followed slowly.
Analysis review
The willingness of downstream weaving factories to stock raw materials was not strong. With the arrival of the hot summer season, textile and clothing consumption was in the off-season stage, and terminal orders were insufficient. Sales of most products in places such as Wujiang and Changxing in Zhejiang have significantly decreased compared to the previous period. The start-up rate had also further weakened, with the Jiangsu and Zhejiang weaving start-up rate around 60%.
Market outlook
Analysts from SunSirs believe that there was insufficient follow-up on the demand side, and downstream textile companies were more cautious in replenishing. The inventory pressure of spandex manufacturers was increasing, and the support from raw materials PTMEG and pure MDI was average. It is expected that the spandex market will continue to fluctuate downward in June.
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