Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic spandex market continued to maintain stable this week (October 23-27). As of October 27, 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 9.87%. The industry's starting rate remained around 72%. Mainstream manufacturers had stable quotations and a clear wait-and-see attitude.

Analysis review

The domestic pure MDI spot market decreased, and the industry's operating load had remained around 85%, which created a positive boost for the market. Prices had slightly increased. As of October 27th, the domestic pure MDI market quoted 20,300 to 20,500 RMB/ton, an increase of 200 to 300 RMB/ton compared to last week. The domestic PTMEG price remained stable, with a molecular weight of 1,800 quoted at 21,000 RMB/ton. Two sets of 30,000 ton/year PTMEG devices from Henan Nenghua were shut down on the evening of September 20th, following the shutdown of raw materials. They had been restarted, and the operating rate of the domestic PTMEG industry had increased to around 83%.

As the end of October approached, terminals were gradually weakening, and the "Double Eleven" and Christmas promotion effects were limited, resulting in insufficient motivation to undertake new orders. As of October 27th, most weaving manufacturers had increased inventory pressure, coupled with weak new orders. The enthusiasm for replenishing raw materials had decreased, only maintaining purchasing goods just in demand and mainly consuming inventory of raw materials.

Market outlook

Analysts from SunSirs believe that as of October 27th, the spandex industry was experiencing a new round of challenges and opportunities, with continuous increase in production capacity, abundant supply and insufficient downstream demand, and a weak supply and demand pattern. In the short term, spandex factories are facing certain operating pressure, and there is expected to be a risk of price weakness.

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