According to the Commodity Market Analysis System of the Business Society, the domestic spandex market continued to maintain stability this week (October 16-20). As of October 20, the price of 40D spandex was 34250 yuan/ton, which was unchanged from the beginning of the week and a year-on-year decrease of 9.57%. The industry’s starting point remained around 72%. At present, the quotation of the spandex factory is temporarily stable, and there are discounts for actual orders.

Current mainstream price statistics of spandex market (unit: yuan/ton)

20D/ 30D/ 40D

Zhejiang/ 38000./37000./35000

Henan/ 37000./35500./33000

Fujian/ 37000./34000./32500

Jiangsu/ 39500./37500./36500

The domestic pure MDI price continues to decline, and the mainstream spot market in the East China region is negotiating a price of 20000 to 20300 yuan/ton for wire transfer and self pickup in barrels, a decrease of about 200 yuan/ton compared to last week. The domestic price of PTMEG is stable, with a molecular weight of 1800 quoted at 21000 yuan/ton, and some factories do not offer prices to the outside world temporarily. The overall operating rate of the industry is around 78%. Two sets of 30000 ton/year PTMEG units from Henan Nenghua were shut down on the evening of September 20th, following the shutdown of raw materials, and are expected to restart in the near future.

After the National Day holiday, the textile market’s shipments were lukewarm and did not show the expected explosive scene of “nine gold and ten silver”. Overall performance was fatigue, with orders mainly being small and medium-sized. Moreover, most textile companies have reported that the recovery time for the final payment is relatively long, resulting in increased financial pressure and inventory pressure on finished products. Therefore, they are more cautious in starting and producing. Currently, the operating rate of weaving machines in the Jiangsu and Zhejiang regions is around 65%. The ‘Silver Ten’ is over half way through, and the confidence support of enterprises is limited. Many people take a wait-and-see attitude and place orders cautiously.

Analysts from Business Society believe that the current spandex market is in a stalemate, with weaker support for the raw material end, and downstream maintenance is just in need of follow-up. During the peak season, the overall market situation was weaker than expected, and the purchase and sales volume was delayed, which did not meet expectations. There is generally a lack of confidence in the future market. In the short term, without significant improvement in fundamentals, the price of spandex may be weak.