The price is expected to increase by 40.31 per cent over the price in May 2021 to reach 1,17,524.90 yuan per metric ton in September 2021, according to Fibre2Fashion’s market analysis tool TexPro.
The demand for conventional spandex exceeds its supply. The demand is majorly sustained by high operating rate of thermal fabric makers and covered yarn plants. Thus, the price of conventional spandex may rise amid tight supply.
In May 2021, a supply crunch was observed in the Chinese spandex market. The sales were good and the operating rate of downstream warp knitting and circular knitting thermal fabric plants and covered yarn mills remained high. The fabric industry was using spandex as one of the raw materials.
In Q1 2021, the price increased owing to tight supply and moderate downstream demand. Also, the inventory had dropped.
The price of spandex had increased due to a moderate demand, rising prices of major feedstock and in expectation of a higher price in later period. The stocks remained low and buyers actively purchased it. Some spandex producers suspended the offers due to rising feedstock prices. The procurement of spandex was strong in China before and after the Chinese New Year holiday in February.
Fibre2Fashion News Desk (KD)