In the second quarter of 2026, bulk textile raw material prices exhibited an extreme divergence. Spandex led with a 12.66% quarterly gain, followed by viscose staple fiber at 7.74% and cotton at 4.56%. Conversely, nylon POY plunged 13.20%, acrylonitrile fell 12.89%, and nylon FDY dropped 12.72%, while the entire polyester series declined over 10%. Among the 17 monitored commodities, 11 declined by more than 5%, resulting in an overall quarterly change of -5.15%.
Rising Stars: Independent Rally of Spandex and Viscose
Spandex prices rose from 26,333 yuan/ton to 29,667 yuan/ton, a year-on-year increase of 21.09%. This was directly linked to sustained demand for stretch fabrics from sportswear and yoga apparel exports. Viscose staple fiber climbed from 13,180 yuan/ton to 14,200 yuan/ton, up 9.06% year-on-year, driven by dissolving pulp costs and maintenance shutdowns. Cotton rose from 16,802 yuan/ton to 17,568 yuan/ton, up 15.88% year-on-year, but more due to acreage reduction expectations and reserve purchases than real demand recovery.
Downstream yarns showed weaker gains: viscose yarn up only 3.02%, cotton 21S up 2.33%, and cotton 32S up 1.44%. This squeezed spinning margins, as factories struggled to pass on higher raw material costs.
Deep Declines: Nylon and Polyester Rout
Nylon chain suffered the worst. Nylon POY fell 13.20%, nylon FDY 12.72%, and nylon DTY 12.49%, all above 10%. Acrylonitrile, the upstream raw material, also fell 12.89%. The core logic: capacity expanded too fast, while downstream fabric demand growth lagged, unleashing a supply-demand imbalance in Q2.
Polyester chain was equally bleak. Polyester POY fell 11.41%, FDY 10.59%, DTY 11.89%, staple fiber 10.52%, and yarn 6.56%. PTA, the key raw material, declined 11.79%. Two factors drove this: weaker crude oil prices removing cost support, and low operating rates at weaving mills causing high polyester filament inventory.
Raw silk fell 5.20%, down 9.42% year-on-year, indicating demand pressure in the silk sector.
Industry Impact: Profit Redistribution and Procurement Windows
This divergence reshaped profit distribution across the chain. Spandex and viscose producers saw improved margins, while downstream fabric and apparel companies faced cost pressure. For nylon and polyester firms, Q2 likely widened losses, especially for those with high inventory.
From a procurement perspective, Q2 offered a low-price window for nylon and polyester. However, if terminal orders remain weak in Q3, prices may fall further.