hitting historic new low

With decreasing spandex prices, the price spread has been narrowed to historic low. Price of spandex 40D dropped far more than its major feedstock since the fourth quarter of 2021, with decrement of spandex 40D as high as 47.1% and that of PTMEG and MMDI only around 24.1%. The price spread between spandex 40D and its major raw materials shrank to 8,794yuan/mt, even more than 4,000yuan/mt lower than the sluggish period in Q1 2020. Spandex companies saw bigger losses, and more units cut production in East China.