In the final week of June 2026, Fujian's spandex market saw subdued trading, with prices remaining flat for the third consecutive week. The 20D grade held at 33,000-35,000 yuan per ton, 30D at 32,000-33,000 yuan, and 40D within a narrow 30,000-31,000 yuan range. This stalemate reflects a deep tug-of-war between raw material costs and end-user demand.
The Cost-Demand Deadlock
Prices of key spandex raw materials PTMEG and pure MDI stabilized in June, providing a floor for spandex quotes. However, this support has not translated into upward momentum. Downstream weaving mills—especially those in Fujian producing sportswear fabrics and stretch textiles—are operating at only 60-70% capacity, shifting from monthly stocking to order-based purchasing. Cautious, just-in-time buying has become the norm.
This means the cost transmission chain has hit a snag at the spandex stage. Producers cannot pass on upstream price increases, forcing them to absorb raw material volatility and squeezing profit margins. For buyers, the current price stability actually signals potential concessions from manufacturers.
Fujian's Supply-Side Reality
Fujian, a major spandex production hub in China, hosts key players such as Huafon Chemical and Hyosung Spandex. Regional capacity is massive, and new capacity added during 2025-2026 has continued to exert supply-side pressure. With weak demand, producers are reluctant to raise prices for fear of losing market share, resorting to hidden discounts or extended payment terms to secure orders.
Meanwhile, industry operating rates have dropped from around 85% at the start of the year to roughly 70%. Some small-to-medium units have even implemented temporary shutdowns for maintenance to manage inventory. This passive production cut has temporarily eased the supply-demand imbalance but has not fundamentally resolved the overcapacity issue.
End-Use Demand and Export Headwinds
The price standoff is underpinned by a slowdown in ordering from apparel brands. Key spandex applications—sportswear, yoga pants, lingerie—are in a destocking cycle. Export markets face similar challenges: while orders from Southeast Asia show some recovery, price sensitivity is extreme, with buyers increasingly turning to lower-cost spandex from Vietnam and India, exerting downward pressure on Fujian's quotations.
This trend means Fujian spandex producers must either achieve cost breakthroughs or differentiate their products to maintain export share. Conventional 40D spandex is already in a red ocean, while functional varieties—ultra-fine denier, chlorine-resistant, antibacterial—command premium pricing.
Outlook: Short-Term Stalemate, Medium-Term Divergence
In the near term, July-August is traditionally a low season for textiles, and Fujian spandex prices are likely to consolidate. If PTMEG prices soften, spandex quotes may dip slightly. However, as autumn-winter fabric preparation begins in September, demand could improve marginally, potentially triggering a seasonal rebound—though limited by overall overcapacity.
For industry players, the current environment resembles an endurance race: well-capitalized, diversified leaders can weather the cycle, while smaller manufacturers dependent on standard grades face consolidation.