According to SunSirs’commodity market analysis system, the domestic spandex market has exhibited a unilaterally strong upward trend since the beginning of April. The price of 40D spandex has demonstrated a pattern of continuous, steady growth—devoid of any significant corrections—and by month-end, it was approaching the 30,000 RMB/ton threshold, marking a substantial increase within the month. As of April 30, the domestic price for 40D spandex stood at 29,166 RMB/ton, representing a 10.76% rise compared to the start of the month. When combined with a year-to-date cumulative increase exceeding 20%, a definitive reversal in the industry cycle is clearly evident.
The cost side provides strong support; prices for upstream raw materials—such as BDO, PTMEG, and tetrahydrofuran—continue to rise, driving up spandex production costs. This pressure has compelled companies to collectively raise prices, with leading enterprises adjusting their quotes upward multiple times within the month.
The supply side continues to undergo a shakeout; following a four-year cycle of industry-wide losses, obsolete capacity has exited the market. With minimal new capacity additions projected for 2026, the industry's CR5 (the combined capacity share of the top five enterprises) has surpassed 80%, establishing an oligopolistic structure. Consequently, enterprises' pricing power has significantly strengthened, while inventory levels have continued to deplete, reaching historical lows.
On the demand side, restocking is underway for the peak season; during the traditional textile peak months of March and April—colloquially known as "Golden March and Silver April"—downstream fabric mills and lingerie manufacturers are replenishing their inventories on an as-needed basis. The proportion of spandex content in textiles continues to rise, and this trend is further bolstered by the expanding demand from emerging sectors such as smart wearables, resulting in a steady release of essential market demand.
Market Outlook
Regarding the near-term market outlook, manufacturers demonstrate a strong proactive willingness to stabilize prices; notably, Tayho Advanced Materials has explicitly stated that "spandex prices may continue to rise in the second quarter." Currently, market acceptance of price hikes remains high, and raw material inventories are at normal levels, alleviating any pressure to destock or engage in speculative hoarding. Cost support remains firm, as upstream chemical prices hold steady at elevated levels; this persistent cost pressure further limits the downside potential for spandex prices. In May, downstream textile orders are expected to maintain their peak-season momentum, with steady demand continuing to drive consumption. On the supply side, no new production capacity is coming online; furthermore, routine plant maintenance has become a standard practice, ensuring that the current tight supply landscape persists. Consequently, spandex prices are projected to sustain their upward trajectory—climbing modestly from their current high levels—with no significant risk of a major market correction.
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