Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic spandex market had remained stable since mid May, with a price of 29,000 RMB/ton for 40D spandex as of May 27th. The cost support was still acceptable, and terminal textiles were gradually entering the off-season. Downstream demand was average, and the transaction atmosphere was light.

Analysis review

In the raw material market, the domestic production of 1,800 molecular weight bulk PTMEG in the spandex field was based on a negotiation reference of 14,500-15,500 RMB/ton, with a decrease of 500 RMB/ton compared to mid month. The overall operating rate of the domestic PTMEG industry was around 72%. The pure MDI market was stable, with market spot prices ranging from 18,400 to 18,800 RMB/ton. Overall supply from manufacturers had decreased, and traders were reluctant to sell, indicating a willingness to raise prices.

Approaching the downstream stocking time, some downstream companies may purchase goods in moderation in the near future. However, due to the impact of the low consumption season in the textile industry, downstream companies had poor expectations for the future market and generally had a bearish mentality. The domestic market continued to weaken, foreign trade orders were relatively cold, and the production enthusiasm of weaving factories was gradually weakening. As of May 27th, the mainstream weaving industry in Jiangsu and Zhejiang had a operating rate of around 72%, and subsequent weaving machine operations may gradually decrease or maintain moderate procurement as the main focus.

Market outlook

Analysts from SunSirs believe that there had been no change in the spandex market, and there was a strong wait-and-see sentiment in the market. It is expected that the price of spandex will remain stagnant.

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