SunSirs: The Market Has a Strong Wait-and-see Mood, and the Price of Spandex Is Weak and Difficult to Change

　　Since the Spring Festival, the spandex market has maintained a downward trend. As of February 22, the average spandex market price was 55,000 RMB/ton, down 6.78% from the price on February 7, and the same as last year’s price. The supply of goods is stable, and 7.9% of the spandex industry has started.

　　Analysis review

　　The upstream raw material market has been stabilized. The domestic market price of PTMEG (1,800 molecular weight) was 42,000-43,000 RMB/ton, and the negotiation evaluation was 40,500-42,000 RMB/ton. The spot in the pure MDI market was tight, and traders were reluctant to sell, and the reference price was around 23,500 RMB/ton.

　　The downstream terminal field followed up cautiously and continued to purchase on demand. The knitting factories in Xiaoshan and Shaoxing, Zhejiang, have a slow pace of resumption of work as a whole. Most small and medium-sized circular knitting machines have an operating rate of 30-40%, and some companies have a operating rate of around 60%.

　　Market outlook

　　SunSirs’analysts believe that the current spandex market is flat and weak. The raw material pure MDI market has been sorted out at a high level, the cost support has remained stable, the downstream domestic sales market has recovered slowly, and the wait-and-see mood is strong. It is expected that the spandex market will remain weak in the short term.