Chuan Manufacturers To Re
Entered after 2010, the urethane product has been rising continuously, the 40D prices rose to 54,000 yuan after the Spring Festival / ton. Spandex industry-related news from yesterday’s market understands that the recent domestic spandex manufacturers may become widespread price increases by 10%. As the degree of industry, economy recovery, spandex plate to start again, it is ready to fly?
Festival for the biggest gain in six months, creating market
Spandex prices last soared from the Chinese New Year began. Information, 40D spandex from prices before the Spring Festival 51,000 yuan / ton to 54,000 yuan / ton, or nearly 6%; 20D over the same period from the pre-holiday price of 72,000 yuan / ton rose to 76,000 yuan / ton. It is understood that the price hikes since mid-2009 is also the largest increase since the previous one.
Corresponds to a strong pulled spandex prices, the domestic Big Three listed companies related industries Huafeng Spandex, Yantai Spandex and Woori Holding’s recent performance has not disappointed investors. Three stocks in February rose an average of 11%, far higher than the corresponding Shenyin chemical index rose 1.5%.
Last year, daily news show, Huafeng Spandex spandex business revenue reached 514 million yuan, gross margin was 6.19%, both of the above-mentioned three companies are the highest. But from the results published in 2009 Letters of view, Yantai Spandex net profit has been about flat, and Huafeng Spandex. According to GF Securities [0.00 0.00%] analysis, spandex prices up 1,000 yuan per / ton, Yantai Spandex earnings per share (EPS) will be thickening of 0.1 yuan / share. This means that spandex Festival of the rise in prices has been driven Yantai Spandex EPS increase of 0.3 yuan / share, while last year the company’s EPS was 0.67 yuan.
Factory price increases 10% ready to fly?
Then Spandex price explosion near future will be? How much of listed companies in turn be affected?
The industry explained that the historical experience shows that price movements are often linear polyurethane type, either rose or fell. Sources disclosed that the recent price increase of domestic spandex manufacturers will generally around 10% is expected to end the first half of 40D price will rise to 60,000 yuan / ton. If the final implemented, for the present spandex related stocks is a big positive.
Days congenial industry researcher Su Wenjie Gu believes that the recent rise spandex caused mainly by supply and demand gap, in addition to the domestic downstream textile industry in December last year, domestic demand growth coupled with positive growth of exports is also an incentive. Spandex is expected to short-term prices will quickly rise to 58,000 yuan / ton level. However, because of the limited capacity of the downstream receiving, spandex in the rose to 58,000 yuan / ton vicinity of the gains may slow down.
If the estimated, 40D spandex 10% price increase would mean that EPS would be rapidly pulled Yantai Spandex 0.5 yuan / share is about equal to last year’s EPS of 80%. Yantai Spandex call yesterday, its securities on behalf of DONG Hai responded, because the industry is in peak season, the company is indeed mentioned once before and after the Spring Festival price, but because the information is very sensitive to price increases is currently hard to say whether the recent price increases will be; In addition, due to export list increases, the company Kevlar production lines have all been re-production, a great impact on performance, but mostly the short list, and can not guarantee that production lines will always be in full production.
The Woori Holding Company insiders said that price increases is normal market behavior, all the public notice shall prevail. As before the deadline, could not be reached Huafeng Spandex relevant person in charge.
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