SunSirs: Supported by the Positive Cost Side, the Price of Spandex Recovered Slightly
September 16 2022 15:41:56 SunSirs (John)
Price trend
Since September, the domestic spandex market has stopped falling and recovered slightly. According to the price monitoring of SunSirs, the average market price was 33,500 RMB/ton as of September 15, up 2.45% from the beginning of the month and down 58.64% year on year. The operating rate of the spandex industry slightly increased to 5.3%, and the supply of goods was sufficient.
Analysis review
In the upstream market, due to the rising focus of raw material BDO and the low operating rate of its own, which was at 35%, the overall mentality of PTMEG was strengthened, and the market price of PTMEG (1800 molecular weight) was 17,000-18,000 RMB/ton. In addition, the pure MDI market also showed an increase, with the reference price of 19,200-19,600 RMB/ton. The manufacturer supported the price, and the traders were reluctant to sell.
From the downstream perspective, in late August, with the relief of temperature drop and power limitation, the comprehensive operating rate of Jiangsu and Zhejiang looms rose to more than 67%, among which, 30% to 40% of the circular looms and 60% of the warp knitting looms were started. Demand side support has been enhanced. In September, the market turned from weak to strong, and the demand for staged replenishment was released, with further recovery expected.
Market outlook
Analysts from SunSirs believe that, in the short term, some spandex manufacturers still have the intention of rising, which is a good support on the cost side. However, downstream end customers hold a wait-and-see attitude towards raw material prices, and the sustainability of demand side orders needs to be verified. It is expected that in the short term, the spandex market will be dominated by narrow range and strong operation.
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