price of spandex is estimated to face big downward pressure with rapidly increasing supply

price of spandex is estimated to face big downward pressure with rapidly increasing supply. In addition, affected by the pandemic, the performance of traditional peak season (Mar-Apr) is not good temporarily. Export orders are expected to be hard to be as good as last year as the production is recovering in Southeast Asia. Spandex companies show stronger cautious mindset amid high cost and with resistance to follow the uptrend on feedstock market. Spandex plants become more eager to bargain for lower price of PTMEG. As more than 80% of PTMEG plants are integrated suppliers, most are lucrative and show weak intention to raise price only because there is bullish support from supply and demand. In one word, cautious mindset intensifies on the market