SunSirs: No Favorable Support on the Supply and Demand Side, Spandex in the Chinese Market Remains Weak

　　On January 11, China’s spandex market maintained a downward trend. The average market price was 60,200 yuan/ton, down 2.59% from the previous day and up 41.98% year-on-year.

　　Spandex manufacturers are operating at a high level of 8.5%, and the supply is stable. However, there is no favorable support from the supply and demand sides. Most of the spandex manufacturers choose to make profit promotions. The actual transaction is limited, and the resistance of manufacturers to shipment increases.

　　The PTMEG market in China’s spandex field is maintained, the upstream BDO price is loose and down, and the cost support is weakened. However, 7.9% of the PTMEG industry started to decline, which boosted the price. At present, the mainstream factories of 1800 molecular weight sources offer around 47,000-49,000 yuan/ton. 5.1% of the pure MDI industry has started construction, the spot is tight, traders are reluctant to sell, and downstream small orders are purchased.The downstream terminal market demand is slow to follow up. About 40% of the construction in the circular knitting field and about 50-60% in the warp knitting field are underway. The enthusiasm for entering the market is not good, and most customers lack confidence in the market outlook and continue to purchase just in need. The trading atmosphere was general, and the overall market was hardly optimistic.

　　The supply of spandex is sufficient, the supporting role of the cost side is maintained, and the downstream purchase intention is not good. It is expected that the spandex market will remain weak and volatile in the short term.