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SunSirs: The Demand Weakly Recovered During the ‘Golden September’ Period, and Spandex Prices Slight

Increase font size  Decrease font size Date:2023-09-28   Views:61

  According to the Commodity Market Analysis System of the SunSirs, after a slight upward trend in the domestic spandex market at the beginning of the month, prices operated stably. As of September 25th, the price of 40D spandex was 34,250 RMB/ton, an increase of 0.74% compared to the beginning of the month and a year-on-year decrease of 0.36%. The overall industry started construction at around 72%. The market price of spandex was relatively strong, the raw material market slightly declined, the shipping was average, and downstream procurement was mainly based on demand.

  Analysis review

  The domestic pure MDI market was relatively weaker. As of September 25th, the pure MDI market in East China was declining, and traders were more active in shipping. The mainstream spot market in the local market was negotiated at 21,300-22,000 RMB/ton in barrels for self pickup, while the low end price was the price of imported goods to old customers. Downstream pre holiday stocking intention was not high, and mostly were purchased through small orders. The overall follow-up atmosphere was poor, and the market trading was slow. The overall operating rate of the PTMEG industry had slightly increased to over 81%. The mainstream market quotation for 1800 molecular weight PTMEG was referenced at 21,000 RMB/ton, and some factories did not provide external quotations for the time being.

  During the "Golden September", the textile market had improved to a certain extent compared to July and August. The comprehensive operating rate of Jiangsu and Zhejiang weaving machines had slightly increased to over 65%, but it was lower than the same period last year. The recovery of consumer confidence still required a relatively long process. The international market consumption remained weak, and the short-term decline in domestic textile and clothing exports may be difficult to change. From January to August 2023, the cumulative export of textile and clothing reached 197.21 billion US dollars, a decrease of 10%.

  Market outlook

  Analysts from SunSirs believe that the cost support was loosened. Under the "strong expectations and weak reality", downstream demand was not significantly boosted, and orders were still dominated by short orders and small orders. It is expected that spandex prices will be stable and adjusted to be weaker in October.

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