Around 90% of demand for PTMEG is from spandex field in Chinese mainland

Around 90% of demand for PTMEG is from spandex field in Chinese mainland. Demand for spandex may be in stagnation as downstream plants are expected to shut down for the Spring Festival holiday intensively from Jan. The operating rate of spandex plants may reduce by that time after price close to cost line, which will end up with shrinking purchasing volume of PTMEG at the beginning of 2022. The production and sales tempo of PTMEG market is estimated to be disrupted and may cause short-term supply competition on PTMEG market.