Spandex Market Morning Express (Dec 8, 2010)

Currently, ruling price of spandex 40D is pegged at 67000-68000yuan/mt (lower at 65000yuan/mt and higher at 70000yuan/mt). In Xiaoshan and Shaoxing, spandex 20D is traded at 85000-88000yuan/mt (higher at 90000yuan/mt). Some spandex traders sell at low price for cash out.

Meanwhile, O/R of circular knitting market of Xiaoshan and Shaoxing is around 30-40%. Local orders situation slightly improves, which also spurs inquiries on 20D. However, trading volume remain small.

($=CNY6.66)

source:CCFGroup.com