In June, the spandex market rose rapidly. As of June 30, the price was 75200 yuan / ton, 8.36% higher than that at the beginning of the month and 138.73% higher than that at the beginning of the month, reaching a new high in the past decade. The current market supply is tight, especially in June, spandex industry started to maintain a high level of about 90%, although the production capacity remains stable, but the inventory level continues to drop to a historical low.
Since the outbreak of the epidemic, the global consumer’s home time has generally increased, and the corresponding demand for leisure and sports clothing products has increased. Spandex is an important raw material for weaving all kinds of lightweight and comfortable elastic fabrics. The content of spandex in these garments is generally high, which leads to the increase of demand for spandex. In addition, the overall demand is strong, the application field of spandex is expanding, and there is a huge growth space in medical, automotive interior and other differentiated industries. It is estimated that the future demand for spandex will have a stable growth rate of 6% – 10%, and the supply of spandex will be orderly.
According to statistics, by 2020, the total effective production capacity of spandex in China will reach 890000 tons, a year-on-year increase of 4.0%. From 2021 to 2022, new production capacity is also concentrated in Huafeng Chemical, Xiaoxing, Xinxiang Chemical fiber, Taihe new material and other leading enterprises. In 2020, the domestic production of spandex will be about 800000 tons, with an average operating rate of about 90%. In 2020, China’s Spandex export is about 65000 tons, with a year-on-year increase of 4.3%, and the apparent consumption is about 750000 tons, with a year-on-year increase of 8.3%. In the first five months of this year, the export volume of spandex was about 40500 tons, up 58% over the same period last year.
In addition, the strong rise of raw material end is also an important reason to drive the price of spandex up all the way. This year, affected by environmental protection, PTMEG industry chain is very hot. The market price of PTMEG is 1800 molecular weight, and the mainstream factory offers around 38000 yuan / ton, while the mainstream offer in the same period last year is 14000-15000 yuan / ton. The mainstream negotiation of pure MDI in East China market was 19600-20000 yuan / ton by telegraphic transfer in barrels, and the quotation in the same period last year was 13600-14200 yuan / ton by telegraphic transfer in barrels.
Both domestic demand and export are favorable to promote the development of spandex industry. It is difficult to improve the short-term supply shortage of spandex itself, and some factories still have the intention to explore. Superimposed raw material side support performance is acceptable, business community analysts expect the spandex market is expected to maintain a strong short term, later still need to pay attention to the cost side and terminal demand changes.
| Thiourea |