In late July, the spandex price system in Fujian has shown a noteworthy signal: the price gap between different specifications is widening. According to industry public data, on July 29, the local spandex market maintained a consolidating trend overall, but the ex-factory price gap between 20D and 40D specifications has expanded to 3,000-4,000 yuan/ton, far higher than the 1,500-2,000 yuan/ton level at the beginning of the year. This structural divergence conveys far more information than the simple 'consolidating' phrase.
Industrial Logic of Price Divergence
Looking at specific quotations, the mainstream ex-factory price for 20D specification stabilized at 32,000-34,000 yuan/ton, 30D at 31,000-32,000 yuan/ton, while 40D fell back to 29,000-31,000 yuan/ton. The price gap between 20D and 40D has reached over 3,000 yuan/ton, which is not simply cost transmission but the result of combined forces from both supply and demand sides.
On the cost side, upstream raw materials PTMEG and pure MDI prices continued to rise in Q2, providing rigid support for spandex. However, the real driver of price divergence is the differentiated performance of downstream demand. High-denier spandex (20D) is mainly used in yoga wear, sports bras and other elastic fabrics, which maintained high prosperity in summer 2026; while 40D is more used in regular casual wear and underwear, where terminal demand growth has relatively slowed.
Transmission Effects on Weaving Enterprises
This price structure change means procurement strategies for weaving enterprises in Fujian and surrounding areas need recalibration. Fujian, as an important spandex consumption region in China, hosts a large number of warp knitting and circular knitting enterprises with rigid demand for spandex.
The relatively weak 40D price currently provides a cost window for weaving mills purchasing high-elasticity conventional fabrics. However, note that 40D price downside is limited - upstream raw material costs have not loosened, and spandex plant operating rates have dropped from 85% at the beginning of the year to around 78% currently, with supply contraction providing bottom support.
For enterprises using 20D specifications, preparation for high price levels is necessary. 20D spandex supply is more concentrated, with major capacity in top chemical fiber companies having stronger bargaining power. If downstream elastic fabric orders maintain current heat, 20D prices may remain firm or even slightly increase in Q3.
Dual Impact on Foreign Trade and Domestic Sales
From a foreign trade perspective, the price divergence in Fujian's spandex market has complex impacts on export-oriented weaving enterprises. In export orders, 40D spandex fabrics account for a higher proportion, and the current relatively low price helps reduce export product costs, enhancing competitiveness in Southeast Asian markets. But the 20D cost increase may weaken the price advantage of high-end elastic fabric exports.
In the domestic market, the continued growth of sportswear provides demand support for high-denier spandex. In H1 2026, domestic sportswear retail sales grew about 8% year-on-year, with categories like yoga pants and tight sportswear growing over 15%, directly driving 20D spandex procurement volumes.
Notably, this structural divergence in the spandex market is not a short-term phenomenon. As end consumption evolves towards functionalization and differentiation, price trends for different spandex specifications may continue to diverge. Weaving enterprises need to establish more refined procurement systems based on their product structures and target markets.