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Insight | Time: Jul 26 2018 4:11PM
Spandex imports rose by close to 40% in H1 2018
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In the first half of 2018, the import volume of spandex was 14.7kt, up 3938mt or 37% year-on-year; the average import unit price from January to June 2018 was $6.818 /kg, down by $0.208/kg year on year.

In June 2018, spandex imports were 2377mt, a decrease of 5% from the previous month, and an increase of 74.7% year-on-year. June average import price was $7.222/kg, down $0.237/kg month-on-month.

Imported spandex was mainly from Vietnam, Singapore, South Korea and Brazil.

There were 19 import origins in the first half of 2018, an increase of 3% from the same period last year. Vietnam accounted for 30%, and imports of spandex from Vietnam increased by 18% year on year to 4472mt, remaining the biggest import origin, far higher than other markets. Among other import origins, Singapore and South Korea accounted for more than 10% in the first half of the year, with total imports at 2,049mt and 1,474mt, up by 49% year on year and down by 1% year on year respectively. In the first half of 2018, imports from Brazil surged significantly as Invista increased the allocation of Brazilian spandex to China, with total volume up by 73mt on the year to 1,060mt.Japan accounted for 7%, up 43% y-o-y.

Among the major spandex import origins, Vietnam retained the biggest supplier in China in the first half of 2018. The import volume increased by about 20%. Spandex import from Vietnam Hyosung increased apparently as the quality of new product improved in China and some customers showed sound buying interest toward spandex from Vietnam.

Most imported spandex in China was high-quality sources, so the average import price was often high. The main production enterprises of these sources were mainly Hyosung, Invista and Asahi Kasei. The average import price of Asahi Kasei in the first half of 2018 was $16.028/kg. The import unit prices of South Korea, Netherlands, Vietnam, Brazil and the United States, etc. were lower than the average level, while the import unit prices of Germany, Thailand, Singapore and Japan were higher than the average price in H1 2018.

The annual capacity of spandex was expected to reach 1,110kt by the end of 2018 after new capacity put into production, an increase of about 10% year-on-year. This growth was still concentrated in Chinese mainland market. Since 2014, the import volume of spandex has been relatively stable in China, maintaining around 20-22kt. It is expected that the year-on-year growth of China's spandex imports will be significant as the allocation of spandex from Invista Brazil and Singapore increases and more spandex from Hyosung Vietnam is delivered to Chinese mainland this year.
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