According to the Commodity Market Analysis System of Business Society, the domestic spandex market continued to decline in December. As of December 29th, the price of 40D spandex was 32125 yuan/ton, a decrease of 1.38% from the beginning of the month and a year-on-year decrease of 9.51%.

The cost side continues to weaken, and the pure MDI market for raw materials is declining. The spot reference in the East China region is between 20000-20300 yuan/ton for wire transfer in barrels for self pickup, a decrease of 500-1000 yuan/ton from the beginning of the month. The overall wait-and-see atmosphere in the market is strong, and downstream inquiries are light. In December, the raw material BDO was weak and downward, with average overall cost support. The PTMEG market declined, and mainstream factories quoted 17000 yuan/ton, a decrease of about 1500 yuan/ton from the beginning of the month. As of the end of December, the overall operating rate of the industry was around 78%.

Under the seasonal off-season background, the terminal elasticity, weaving, and printing and dyeing startup rates have slightly declined to around 72%. In terms of exports, as the end of the year approaches, there are signs of a rebound in foreign trade orders. In November, textile and clothing exports amounted to 23.66 billion US dollars, a decrease of 1.8%, and a month on month increase of 3%. Among them, textile exports amounted to 11.12 billion US dollars, a decrease of 0.5%, and a month on month increase of 3.8%. Clothing exports amounted to 12.55 billion US dollars, a decrease of 3%, and a month on month increase of 2.4%.

According to analysts from Business Society, as the Chinese New Year approaches, terminals will gradually take a break from mid January, leading to a rapid decline in production in the weaving industry and further contraction in demand. Due to insufficient cost support, it is expected that spandex prices will remain weak in January 2024.