Spandex prices have eventually bottomed out in China after continuously falling for a full year by contrast with other chemical fibers. Demand is fueling the rebound whereas material costs have been mixed.
Spandex prices have begun bottoming out in China after staying frozen for a large number of weeks.
A recovery of demand from spandex (or elastane) processors has boosted price offers on the market.
Overhauling operations have limited the opportunity to raise production at the same time.
As a consequence, price offers from leading producers for benchmark 40D bright have been increased by 2,000 yuan per metric ton or about 6%.
Huafeng is now offering its spandex at 36,000 yuan per MT whereas Huaihai offers 34,000 yuan.
Raw material costs have been mixed with PTMEG staying unchanged whereas MDI was clearly rising.
Spandex prices have been depressed by a lack of demand in the past years allied to a rise of capacities.
Prices had nearly reached a 10-year low at the enf of last year before they have eventually bottomed out.
A previous rebound had been experienced from the start of 2016 with prices however beginning to fall again from January 2018.
Spandex prices could continue rising in the coming weeks as textile production will progressively climb over seasonal trends.
Source: Emergingtextiles
