Price review of spandex in 2023: in range-bound – ChinaTexnet.com
Home >> Textile News >> Price review of spandex in 2023: in range-bound

Price review of spandex in 2023: in range-bound

2024-01-22 09:01:06 CCFGroup

The price of spandex has shown an A-shaped trend in the past four years of the epidemic. It could be divided into three stages: the bottoming stage from January to August 2020, the sharp rise stage from September 2020 to August 2021, and the downward adjustment stage from September 2021 to the end of 2023. By the end of 2023, the price of spandex has basically approached the low point of the early stage of the COVID-19 pandemic.

 

hr_wordimg_1705475789676.png

1. Spandex performed the weakest among major raw materials of textiles and apparels in 2023

 

Looking at the price fluctuations of textile and apparel raw materials in 2023, the trend of textile and apparel raw material prices was volatile. PFY, NFY, and cotton yarn experienced small increases, while spandex and cotton yarn prices were weak, especially spandex, which has experienced the largest decline among textile and apparel raw materials. The price of spandex 40D dropped by as high as 8.4%. The spandex industry chain is still in a phase of expansion after experiencing a previous high prosperity cycle. Although demand has recovered, the recovery was slow. Spandex suppliers were heavily squeezed by the upstream and downstream industries. There was obvious internal price competition for spandex, and most companies in the industry were experiencing significant losses, while a few leading spandex enterprises still had a slight profit.

 

Price change of major raw materials of   chemical fiber and cotton textiles

Date

Spandex 40D

Polyester POY150/48

Nylon FDY70/24

Rayon yarn 30S

Cotton yarn 40S

2022-12-30

32,000

7,190

15,400

16,430

23,400

2023-12-29

29,300

7,490

17,600

16,630

23,240

Change:   yuan/mt

-2,700

300

2,200

200

-160

Change:  %

-8.4%

4.2%

14.3%

1.2%

-0.7%

 

2. Price summary of spandex in 2023

 

In terms of the price trend of spandex in 2023, the price trend showed an "M" shape, with weaker rebound in the second half of the year compared to the rebound of spandex in the spring. After New Year's Day, with the relaxation of the epidemic and market confidence restored, the demand for replenishment increased, and the price of spandex rebounded slightly. For example, the price of spandex 40D rose from 32,000yuan/mt in early-2023 to 35,000yuan/mt in mid-Mar, with a rebound of 9.4%. However, at the end of the first quarter, due to the downstream demand digestion of previous inventories, sales of spandex slowed down, and the price of spandex declined. Until the end of the third quarter, due to the approaching traditional peak season and the tight supply and rising prices of PTMEG, spandex experienced a weak rebound. The price of spandex 40D rebounded from the low point of the second half of the year, 30,000yuan/mt, to around 31,000yuan/mt in early-Oct, with a rebound of 3.3%. However, after late-Oct, due to the slowdown in the digestion of rigid demand and some buyers still compressing previous inventories, coupled with the price of BDO falling below 10,000yuan/my, the support from cost and demand weakened on spandex marke. Price of spandex once again declined. The downward adjustment trend continued until the end of the year.

 

hr_wordimg_1705475855843.png

3. Spandex price declined less on the year in 2023

 

The price decline of spandex in 2023 was smaller compared to 2022. Compared with the prices of conventional specifications of spandex at the beginning and end of 2023, the prices of 20D, 30D, and 40D decreased by 2700yuan/mt, 2200yuan/mt and 2700yuan/mt respectively, with decreases of 7.5%, 6.4% and 8.4% respectively. The decline narrowed compared to the wide decline of 50-60% throughout 2022.

 

 

Price change of spandex 20D, 30D and 40D in  2023

Date

20D

30D

40D

2022/12/30

36,000

34,500

32,000

2023/12/29

33,300

32,300

29,300

Change:  yuan/mt

-2,700

-2,200

-2,700

Change:  %

-7.5%

-6.4%

-8.4%

 

4. Annual price of conventional spandex varieties in 2023

 

The average prices of spandex 20D, 30D, and 40D in 2023 were 35,678yuan/mt, 34,504yuan/mt and 31,348yuan/mt respectively, representing a year-on-year decrease of 32%, 27% and 25% respectively.

 

Annual price of spandex 20D, 30D and 40D in  2023

Yearly price

20D

30D

40D

2022

52,628

46,974

41,555

2023

35,678

34,504

31,348

Change:  yuan/mt

-16,950

-12,469

-10,207

Change: %

-32.2%

-26.5%

-24.6%

 

Keywords: