Supply remains tight, spandex single-month increase exceeds 10%
Published on:
2020/11/01
Source:
In November, the pure MDI raw material market weakened, with downstream purchasing enthusiasm remaining low, new orders difficult to increase, and buying sentiment bearish. Approaching the end of the month, holders mainly focused on active shipments, and negotiation focus continuously declined. As of November 27, the market reference price for telegraphic transfer barrel packaging was 25,500-26,500 yuan/ton, with actual negotiations prevailing, down 7,500 yuan/ton from the beginning of the month. Wanhua Chemical's December 2020 pure MDI barrel listing price was 28,000 yuan/ton, unchanged from November, with the November settlement price at 27,500 yuan/ton. The PTMEG market operated weakly and consolidated, with cooling on both raw material and downstream demand sides, increasing wait-and-see intentions. Price-wise, the mainstream quotation for 1800 molecular weight sources is 17,000-18,000 yuan/ton, with actual negotiations at 16,200-17,500 yuan/ton, down 1,200-1,500 yuan/ton from the beginning of the month. The 40,000-ton unit in Yizheng Dalian remains shut down, with the industry's overall operating rate at 80%, maintaining a high level.
The downstream end market purchases according to demand, with trading atmosphere slightly cautious. The entire textile end market cooled down comprehensively in November. On one hand, the textile industry experiences seasonal weakness at this time every year; on the other hand, the previous "Double Eleven" stocking has somewhat overdrafted subsequent demand. According to China Textile City, downstream fabric trade is currently seeing order reductions and stoppages, with textile market orders generally decreasing, most of the affected orders being foreign trade orders.
Business Society analysts believe that the spandex market remains tight in supply and prices continue to hold at high levels. However, cost-side support is insufficient, and terminal market demand is gradually weakening, with fewer new orders following up, resulting in a strong overall market wait-and-see sentiment. It is expected that the spandex market will continue to operate at high levels in the short term.
(Source: Business Society)
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