test

Member ID:
Password:
Stay logged in for 30 days
Pls change your password according to new rules.
close

login CCFGroup App

Insight | Time: Jun 24 2022 9:13AM  Editor:Tina Kong
China's spandex import &export both reduce Y-O-Y in Jan-May
 
Text size

According to the latest data from China customs, exports of spandex amounted to 35.1kt in Jan-May, 2022, a year-on-year decrease of 13.4% or 5,435 tons. Imports of spandex declined by 7.4% or 853 tons on the year to 10.6kt in in Jan-May. That meant the net exports were at 24.4kt, down 15.8% on annual basis. Imports of spandex touched bottom in Feb and gradually increased, while exports of spandex kept falling month by month. Net exports also tended to decrease.

image.png

Spandex export declines more than 10%


According to the latest data from China customs, exports of spandex amounted to 35.1kt in Jan-May, 2022, a year-on-year decrease of 13.4% or 5,435 tons. The average export unit price was at $9.007/kg in Jan-May, 2022, up by $1.335/kg on the year. Exports of spandex reduced month by month in Jan-May, 2022. Although the production of textiles and apparels recovered in Vietnam and India etc., the replenishment of spandex dropped with rapidly declining spandex price. Spandex exports were especially low in May, at 5,417 tons, down 8% m-o-m and 30.2% y-o-y respectively, and the average export unit price at $8.715/kg, up $0.187/kg.

image.png

Spandex were exported to 91 nations or regions in Jan-May, 2022, flat on the month. Turkey remained the biggest export destination, followed by South Korea and Vietnam. The proportion of the top three nations amounted to 46.5% of the total.


Exports to Brazil, Columbia, Bangladesh, Egypt, Taiwan, China and India all decreased by 30-70% on annual basis, down by 451-1,532 tons on the year.


Major export destinations of spandex in Jan-May, 2022
Destination Volume/kg Value/USD Proportion Average price/$/kg YOY change/kg YOY change/%
Turkey 12,003,183 103,002,994 34.20% 8.581 617,238 5.40%
South Korea 2,322,063 18,458,888 6.60% 7.949 206,104 9.70%
Vietnam 1,983,311 18,580,997 5.70% 9.369 28,831 1.50%
Taiwan China 1,856,752 19,063,132 5.30% 10.267 -637,226 -25.60%
Pakistan 1,799,850 18,864,656 5.10% 10.481 258,824 16.80%
Egypt 1,652,628 16,133,080 4.70% 9.762 -683,427 -29.30%
Indonesia 1,277,129 11,764,927 3.60% 9.212 449,031 54.20%
Bangladesh 1,045,205 10,125,417 3.00% 9.687 -956,065 -47.80%
Iran 965,181 8,715,465 2.80% 9.03 330,271 52.00%
Netherlands 767,932 6,815,230 2.20% 8.875 99,708 14.90%
Other 9,384,104 84,224,258 26.80% 8.975 -5,148,204 -35.40%
Total 35,057,338 315,749,044 100% 9.007 -5,434,915 -13.40%


image.png

Imports of spandex shrink by around 10%


Imports of spandex declined by 7.4% or 853 tons on the year to 10.6kt in in Jan-May, and the average import unit price was at $10.364/kg in Jan-May, up $1.804/kg y-o-y. Imports of spandex amounted to 3,488 tons in May, up 41.9% y-o-y and 51.5% m-o-m respectively, with import unit price averaged at $9.323/kg, down by $0.47/kg on the month. Monthly imports of spandex hit multi-year high in May.

image.png

Vietnam, Singapore and South Korea remained major import origins of spandex, with proportion of these three nations as high as 80% in Jan-May. Imports from Vietnam rose by 11.5% to 5,038 tons, those from Singapore reduced by 12.7%, and those from South Korea and Japan apparently dropped by 15.1% and 23.5% year on year respectively.


Import origins of spandex in Jan-May, 2022
Origin Volume/kg Value/USD Proportion Average price/$/kg YOY change/kg YOY change/%
Vietnam 5,038,248 44,180,619 47.40% 8.769 519,482 11.50%
Singapore 1,916,792 23,086,505 18.00% 12.044 -277,842 -12.70%
South Korea 1,629,981 18,589,630 15.30% 11.405 -289,166 -15.10%
Japan 981,435 14,356,168 9.20% 14.628 -300,731 -23.50%
UK 477,892 3,926,910 4.50% 8.217 -122,983 -20.50%
Other 583,572 6,003,699 5.50% 10.288 -381,812 -39.60%
Total 10,627,920 110,143,531 100.00% 10.364 -853,052 -7.40%


[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.
Related Articles
Spandex: production curtailment to exaggerate in July
China spandex industry operation report (Jun 16-30, 2022)
Price of spandex declines slower
Petrochemical market morning express (Jul 1, 2022)
Spandex market daily (Jun 30, 2022)
PET bottle chip industry development under the epidemic
Price of spandex for circular knitting heads south
State Council releases the eighth extension list of goods levied
Petrochemical market morning express (Jun 30, 2022)
Spandex market daily (Jun 29, 2022)
 
Research
PET bottle chip industry development under the epidemic
China's MEG market outlook-H2 2022
PX price spikes - How does PX turn the tide
PTA struggle for direction under rising cost and weak demand
PSF industry development amid ups and downs
Polyester demand forecast in H2 2022
 
 

娴欏叕缃戝畨澶33010902000742鍙