Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic spandex market temporarily stabilized this week (October 9-13). As of October 13, the price of 40D spandex was 34,250 RMB/ton, which was unchanged from the beginning of the week and a year-on-year decrease of 5.19%. The industry's starting rate remained around 72%. The price trend of spandex in the market was strong, and the cost side had weakened. Downstream cautious wait-and-see sentiment was strong, maintaining just in demand procurement.
Analysis review
The domestic pure MDI market declined, and the overall negotiation atmosphere was not good. Traders mostly shipped following the market, and the mainstream negotiated price for self delivery on spot goods in barrels in the market was 20,200 to 20,500 RMB/ton, a decrease of 1,000 to 1,500 RMB/ton compared to the end of September. The overall operating rate of the PTMEG industry was around 78%, with a molecular weight of 1,800 PTMEG quoted at 21,000 RMB/ton. Some factories did not provide quotations for the time being.
The downstream textile industry was in a holiday mode during the National Day holiday period, with poor order performance and average market shipments overall. Production enterprises generally had about 1-3 days off, and most trading companies were also on vacation. After the holiday, the resumption of work was average, and the comprehensive operating rate of Jiangsu and Zhejiang weaving was around 65%. It is expected that the traditional peak season market will gradually come to an end in late October, and the operating load will steadily decrease.
Market outlook
Analysts from SunSirs believe that as of the 13th, the price of spandex had been mainly stagnant, with some cost side loosening. As downstream and terminal winter orders were gradually delivered, there was a risk of further shrinkage on the demand side, and the supply pressure on spandex would become prominent. In the short term, the upstream and downstream lack support, and the price of spandex may be weaker.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.