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Predicament surrounds spandex industry
30
Jan '08
Although the textile industry saw a rapid growth last year, rising prices of raw material, international trade frictions and RMB appreciation are going to affect the sector in 2008.

According to experts, the purchasing power of the raw materials will go down leading to decline in prices and spandex manufacturers will not remain untouched from this crunch.

Analysts believe that though initially it may not seem much, in later half of the year, prices are bound to plunge drastically, which will shrink profits for the domestic industry. At present, the sector registers profit between the ranges of 10,000 to 20,000 yuan per ton.

Further, adding to the industry's woes, Korean Hyosung will set up the production lines of spandex in Turkey, Vietnam and Brazil in order to meet the local market's demand, which will inevitably bite into China's spandex exports.

However, as a ray of hope, few of the spandex suppliers have finished their investment projects and will contribute the raw materials to the market.

Fibre2fashion News Desk - China

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