According to the price monitoring of SunSirs, the domestic spandex market fluctuated and declined in November. As of November 29, the average market price was 77,600 yuan/ton, down 3.72% from the beginning of the month and up 88.81% year-on-year. The start-up of spandex manufacturers has increased to a high of 8.8%. The spot supply in the market is stable and manufacturers are actively shipping. However, the market trading atmosphere is light and the wait-and-see atmosphere is strong.
Current mainstream price statistics in the spandex market (unit: yuan/ton)
The raw material pure MDI market situation in November was supported by tight spot supply and the market rebounded. However, the demand in downstream terminals was sluggish, and the market rebounded briefly and then fell back, showing mainly a narrow decline. And towards the end of the month, there are more goods arriving in Hong Kong from Japan and South Korea, and the mainstream quotations in the market have dropped. By the end of the month, the mainstream negotiations in the domestic market are at 21,500-22,300 yuan/ton for barreled pick-up wire transfer, which is 1,700-2,000 yuan/ton lower than at the beginning of the month.
Domestic PTMEG manufacturer equipment changes
The PTMEG market maintains consolidation. Currently, the mainstream factory price for 1800 molecular weight supply is around 47,000-49,000 yuan/ton, which is 1,000 yuan/ton lower than at the beginning of the month. However, due to the stable price of upstream BDO, some parts of it are higher. Supported by costs, factories have an obvious price support mentality. The industry Construction starts increased slightly by 8.30%.
Affected by the gradual slowdown in the shipment of autumn and winter fabrics such as flannel, the operating rate of circular knitting machines has partially declined. The operating rate of circular knitting machines and wrapping yarn in Xiaoshao area is around 50%. The operating level of the circular knitting machine and covered yarn market in Jiangsu is 40-50%. The downstream market orders in Guangdong are slightly following up. The operating level of the circular knitting machine, covered yarn and warp knitting market is 50-70%. At present, the undelivered orders of knitting factories can be made until the beginning of next month, and factories with sufficient orders can be made until the end of next month. However, some factories have no orders and mainly produce inventory. They generally lack confidence in the market outlook and mainly purchase spandex cautiously.
In terms of the textile industry, according to the SunSirs Textile Index, the textile industry weakened in November. As of November 29, the textile index was 1,044 points, down 49 points from 1,093 points at the beginning of the month, and 1,156 points higher than the highest point in the cycle (2018-09- 03) dropped by 9.69% and increased by 53.30% from the lowest point of 681 points on August 13, 2020. (Note: The period refers to 2011-12-01 to the present)
In terms of exports, my country’s textile and apparel exports in October were US$28.94 billion, a year-on-year increase of 16.5%. Among them, textile exports that month were US$12.5 billion, a year-on-year increase of 7.3%, returning to positive monthly growth for the first time since the second quarter of this year. Clothing exports in October were US$16.44 billion, a year-on-year increase of 24.7%.
Raw material prices have fallen slightly from their high levels, but the cost-end support can still be maintained. However, the demand side is currently slow to follow up, which is negative for spandex prices. Especially as domestic autumn and winter orders may gradually close, the trading atmosphere will be insufficient, the market weakness will intensify, and spandex prices are expected to maintain a downward trend in the short term.
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