Spandex Market Morning Express (Dec 28, 2010)

This morning, spandex sales remain dull and ruling price gradually stabilizes after previous drops. However, some spandex traders or producers sell at low price for cash out and cautious sentiment is still strong. As spandex price gradually tends to cost line, spandex traders or downstream plants are willing to purchase at bottom price.

In Xiaoshan and Shaoxing, O/R of air covered yarn declines to 50-60% level. Local spandex 40D price is pegged at 60000yuan/mt, with higher at 63000yuan/mt.

In Zhuji and Yiwu, Zhejiang, O/R of conventional covered yarn slightly declines and a few middle or small plants have shut down units for vacation. Local spandex 20D for covered yarn is traded at 78000-80000yuan/mt, with lower at 76000yuan/mt.

$1=CNY6.63

source:CCFGroup.com