Domestic Spandex Market Downturn in Steady Manner

PUWORLD (2011-11-22)--Domestic spandex market presented steady downturn manner as a result of increasing loss of producers, softening trading value, weak demand and close to decreasing capacities period of most producers. Most leading producers kept on the fence and no mainstream trading value was heard.

Up to the end of last week, 20D goods were mainly traded at Rmb 54000-62000/ton while 40D quotations were heard at Rmb 40000-45000/ton. Market remained insipid with limited sales. Downstream producers had low confidence for future market. Producers were pressurized to down adjust the quotations for maintenance the customer cooperation and consumption of more availability, which led to softened pricing. As a result of increasing losses, insipid demand lasting and close to restriction for production, pricing down adjustment intention weakened. Purchasers were not willing to buy as end demand weak and previous orders unfinished. Raw materials market continuous weakened also depressed spandex capacities. Main transactions were mainly amid small orders.