Data from the SunSirs commodity market analysis system indicates that the domestic spandex market generally trended downward with fluctuations in August; the average transaction price for mainstream 40D spandex was 29,666 RMB/ton at the beginning of the month, edging down 0.56% by the end of the month.
The spandex market remained sluggish and consolidated throughout August. By the end of the month, most domestic spandex producers were operating at normal levels, with the industry-wide operating rate at approximately 87%; major manufacturers maintained stable capacity utilization, ensuring ample supply. Amid the traditional off-season for textiles, operating rates at downstream factories—including those producing fabrics, underwear, and covered yarns—remained low; purchasing was driven primarily by immediate needs, with little appetite for bulk restocking, resulting in lackluster trading activity. Furthermore, with upstream PTMEG prices remaining stable, spandex producers faced margin pressure and limited room for price adjustments, leaving the market without upward momentum.
Looking ahead to September, the spandex market is entering a period of tug-of-war typical of the traditional peak season, with prices likely to remain volatile. On the supply side, the industry's overall strategy of controlling output will continue; notably, Phase II of Xinxiang Chemical Fiber’s project for an annual capacity of 100,000 tons of functional spandex fiber commenced operations in August. Should profit margins continue to recover, there are plans to restart some units currently undergoing maintenance, leading to an expected increase in supply.
On the cost side, fluctuations in crude oil prices remain the primary external variable, and changes in PTMEG plant operating rates will directly impact raw material prices. Should crude oil prices retreat from their highs, upstream cost support would gradually weaken, thereby diminishing the upward momentum for spandex prices.
The market is entering the traditional "Golden September" peak consumption season, theoretically raising expectations for a recovery in downstream apparel orders; however, downstream customers currently hold high inventories of greige fabric and remain cautious regarding high-priced spandex, leaving the actual materialization of demand uncertain. Should end-market orders fall short of expectations and downstream purchasing remain strictly on an as-needed basis, spandex prices risk a pullback. Moving forward, key factors to monitor include raw material price trends, adjustments to plant operating rates, and the actual placement of orders for autumn/winter fabrics.
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