Significant drop in China's spandex prices amid market slump

The FOB price of spandex was recorded at $5.53 per kg during January-March 2023. It fell by 13.56 per cent over the last year to $4.78 per kg. There was a decrease of 1.99 per cent to $5.42 per kg in April-June 2023, down from $5.53 per kg in the previous quarter. The price then softened by 1.29 per cent to $5.35 per kg in July-September 2023. The product has since seen a steep decline of 10.65 per cent, bringing the price to $4.78 per kg, according to Fibre2Fashion's market insight tool TexPro.

In the Chinese domestic market, the price of spandex was noted at $4.89 per kg in January-March 2023. It fell by 9 per cent to $4.45 per kg in the April-June quarter and further by 5.39 per cent to $4.21 per kg in July-September 2023. However, the prices slightly recovered by 0.24 per cent to $4.22 per kg, as per TexPro.

Over the past year, spandex prices in the Chinese domestic market declined by 13.70 per cent. This decline in spandex prices indicates sluggish market conditions in the women's garment segment. High inflation in developed countries has significantly impacted the retail demand for garments.

Fibre2Fashion News Desk (KUL)