According to the SunSirs Commodity Market Analysis System, the spandex market in May exhibited a trend of rising initially before declining. As of May 29, the domestic price for 40D spandex stood at 29,833 RMB/ton—unchanged from the beginning of the month—marking a cumulative year-to-date increase of over 25%. Throughout May, amidst the interplay between support from raw material costs and the seasonal lull in downstream demand, the market displayed a distinct pattern of strength in the early part of the month followed by weakness in the latter part.
At the beginning of the month, the spandex market continued the warming and upward trend observed in April. Bullish sentiment was strong, and manufacturers demonstrated a firm resolve to uphold prices; consequently, prices rose steadily, reaching their monthly peak in early May. In East China, the mainstream tax-inclusive quotation for 40D spandex reached 36,600 RMB/ton. This phase of price appreciation was primarily driven by robust support from the upstream raw materials sector; key inputs—such as PTMEG and MDI—continued to trade at elevated levels, significantly driving up spandex production costs and laying a solid foundation for price appreciation across the entire industry chain. Concurrently, the overall operating rate within the domestic spandex industry remained at a high level of 85%–90%, while aggregate corporate inventory levels were maintained within a low yet reasonable range of 20–25 days. This limited inventory pressure further contributed to the market's strengthening performance at the start of the month.
Since mid-May, market conditions have experienced a slight pullback; elevated prices have dampened the purchasing sentiment of downstream buyers, initiating a phase of sustained, volatile decline. The textile market has now entered its traditional off-season; operating rates among downstream weaving enterprises are hovering at a mere 50% to 70%, while orders for finished apparel and home textiles remain generally scarce, resulting in insufficient support from essential market demand. Faced with high spandex prices, downstream enterprises have displayed palpable resistance, largely adopting a conservative, "buy-on-demand" strategy with purchases made strictly as needed. With no signs of concentrated inventory replenishment, market trading activity remains sluggish—a situation that has completely exhausted the momentum for further price appreciation, thereby driving prices to retreat from their recent highs.
Analysts at SunSirs believe that, in the short term—specifically in June—low inventory levels in the spandex market, coupled with high raw material costs, will provide support for price floors. However, weak downstream demand will limit upside potential, making it difficult for the market to break free from its current sluggish pattern; overall, the primary focus will remain on maintaining price stability while working to deplete existing inventory.
SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.
