Spandex prices in Fujian have remained largely unchanged for several consecutive weeks. According to industry data from June 29, mainstream ex-factory prices for the 20D grade are flat at 33,000-35,000 RMB per ton, 30D at 32,000-33,000 RMB per ton, and 40D at 30,000-31,000 RMB per ton. This price plateau has persisted for nearly a month, reflecting a delicate balance between upstream and downstream forces.
Cost Support vs. Weak Demand
The current stalemate in spandex prices is essentially the result of two opposing forces. On the cost side, major raw materials such as PTMEG (polytetramethylene ether glycol) and pure MDI have seen minor fluctuations recently but remain at relatively high levels, providing a floor for spandex ex-factory prices. Producers have little incentive to cut prices aggressively as long as raw material costs stay elevated.
Downstream buyers, however, are operating on a different logic. Fujian's textile industrial cluster—a major consumer of spandex—includes warp knitting, weft knitting fabric mills, and intimate apparel manufacturers. These enterprises are currently facing slower-than-expected recovery in end-use orders, leading to extended inventory digestion cycles. Consequently, their procurement strategy has shifted from stockpiling to just-in-time purchasing.
Regional Industrial Chain Effects
Fujian's spandex market does not operate in isolation. As one of China's key spandex production hubs, its pricing trends are closely linked with those in Zhejiang and Jiangsu provinces. For instance, the 40D grade in Fujian is priced at 30,000-31,000 RMB per ton, roughly in line with East China quotations, indicating a highly homogenized competitive landscape across regions.
This narrowing of regional price differentials means reduced arbitrage opportunities for buyers. For Fujian-based spandex mills, it underscores the need to compete through cost efficiency and product differentiation rather than relying on geographic premiums.
When Will the Stalemate Break?
The key question for the market is how long this sideways trend will persist. Historically, spandex price breakouts require one of two triggers: a sharp move in raw material costs, forcing producers to adjust prices, or a significant pickup in downstream demand, upsetting the supply-demand balance.
Neither condition appears imminent. On the raw material front, PTMEG and MDI supply patterns are stable, with low probability of drastic swings in the near term. On the demand side, while the traditional peak season of "Golden September and Silver October" approaches, the strength of export order recovery remains uncertain—European and U.S. destocking continues, and capacity expansion in Southeast Asian competitors is ongoing.