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Insight | Time: May 24 2022 2:17PM  Editor:Monica Jiang
Sparkling refined cotton import of China in 2022
 
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Refined cotton import and export of Chinese mainland has performed well this year. The export market is recovering and import volume keeps rising.


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According to customs data. China exports 7.086kt of refined cotton in Apr 2022, up 13.9% m-o-m and up 3.8% y-o-y. The import volume is 2.601kt, up 42.1% m-o-m and up 962.1% y-o-y. The import of Apr accounts for 36.7% of the export during the month.


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In the first four months of 2022, China totally exports 28.3kt of refined cotton, up 27.5% y-o-y and the import volume amounts to 5.937kt, up 362% y-o-y, thus the import occupies 21% of exports. 


China was unexpectedly hit by the COVID-19 in 2020 and the export of refined cotton decreased notably during the year, but foreign trade market was resuming in 2021 with the control of epidemic and economic recovery and the export continued to perform well. In 2022, refined cotton import of China keeps increasing because some companies turn to import refined cotton due to higher price of cotton linter in China. At the same time, the base number of refined cotton import is not large and the huge price gap between imported and domestic goods in particular has spurred the growth of imports. Since Jul 2021, the import of refined cotton has been rising for consecutive ten months.

 

In Apr, the export price of refined cotton averages at $2,332/mt, up 2.6% m-o-m and up 55.7% y-o-y. The import price is $1,171/mt, down 5.8% m-o-m and down 54.4% y-o-y. During Jan-Apr, the export and import price averages at $2,309/mt and $1,273/mt respectively.

 

In conclusion, refined cotton export of China has been recovering since 2021 when the epidemic abroad has been gradually controlled and the export volume in the first four months of this year has grown by almost 28%. At the same time, the import market of refined cotton is sparkling this year due to the higher price of cotton linter and huge price spread of refined cotton between Chinese and foreign market. The import volume has been rising for consecutive ten months y-o-y. In Apr, the import volume increases by 962% and the growth in the first four months of this year is 362%.

[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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