PTMEG prices remained stable in mid-January 2025, as sluggish downstream demand from the spandex sector and weak cost support from feedstock tetrahydrofuran (THF) kept market sentiment subdued. With the Lunar New Year approaching in key APAC economies, procurement activity declined, prompting cautious buying behavior and limited market transactions.

In China, PTMEG market activity remained muted, with minimal price fluctuations due to sluggish spandex demand. Most buyers purchased only as needed, while some local distributors engaged in slight stockpiling to finalize year-end payments. However, large-scale restocking was absent, reflecting overall market caution. Spandex manufacturers struggled with high inventory levels, making it difficult to balance supply and demand.

As the Spring Festival approaches, downstream and terminal spandex factories gradually shut down, leading to weaker market transactions. Many buyers had already completed their year-end stocking, resulting in significantly lower procurement activity. Weaving operations slowed further, with limited transactions observed. Some traders engaged in minor replenishment, but most buyers adopted a wait-and-see approach, delaying larger purchases until post-holiday market conditions became clearer.

The cost side remained weak, offering little support to PTMEG prices. THF prices stayed subdued, with no significant upward momentum from raw materials. The spandex market in Zhejiang Province remained stable despite lower trading activity. Downstream spandex buyers were highly cautious, avoiding bulk purchases and prioritizing immediate operational needs, further constraining PTMEG demand.

The export market for PTMEG saws notable shifts. Zhejiang and Ningxia remained the primary export hubs, accounting for 70% of total PTMEG exports, though this marked a six-percentage-point decline year-on-year. Exports from Ningxia to Turkey dropped due to weaker demand, while Sichuan’s export volume surged by 62.9%, driven by increased shipments to Singapore. Imports from Vietnam saw a sharp rise due to expanded supply, but demand in Southeast Asia did not match expectations, leading to higher imports into China.

In Europe, weak PTMEG demand was evident as the textile industry continued to struggle with oversupply and declining market activity. Geopolitical tensions and logistical disruptions further exacerbated the crisis, limiting the demand for PTMEG-based products. France faced economic challenges that dampened industrial output, while Germany saw declining textile orders, directly impacting PTMEG consumption in fiber applications. Italy reported weaker demand for textile machinery, slowing PTMEG usage in key production processes.

In North America, PTMEG prices remained stable due to weak cost support and sluggish demand. The textile and apparel industries showed little improvement, with buyers limiting procurement to essential needs. The holiday season further dampened activity, keeping the market in a state of minimal movement.

As per ChemAnalyst, PTMEG prices are expected to remain under pressure in the coming weeks. The Lunar New Year holidays in APAC will likely pause procurement activity, while ample supply and weak demand in global markets, including North America and Europe, are expected to sustain a bearish outlook. Market recovery will depend on post-holiday demand trends in the spandex sector.