Import of spandex in Jan-Jul, 2021

According to the statistics from China Customs, imports of spandex, under Hs code 54024410, totaled 19.6kt in Jan-Jul, 2021, up by 48.4% or 6,390 mt on the year, which was mainly because demand was strong this year while presented meager during the same period of last year due to the outbreak of the pandemic. Monthly import of spandex was at 2,798 tons in Jan-Jul, 2021. The import unit price was at $9.165/kg, up by $3.023/kg on the year and $1.953/kg from the same period of 2019 respectively. Imports of spandex hit historic high in Jul 2021, up by 49.7% on the month and 100% on annual basis respectively. The import unit price in Jul increased by $0.567/kg on the month to $10.250/kg.

1. Spandex import by origin

Vietnam remained the biggest import origin for spandex in Jan-Jul, 2021, with import volume up by 28% on the year to 8,425 tons, accounting for around 43% of the total. South Korea was the second largest import origin, with import volume at 3,204 tons in Jan-Jul, up by 100% on annual basis and taking up around 15.7% of the total. Imports from Singapore rose by 45% on the year to 3,084, possessing 15.7% of the total. Imports from Japan increased to 1,680 tons and those from Indian totaled 1,099 tons. Imports from India approached at 405 tons and 694 tons in Jun-Jul respectively. Imports from Vietnam, South Korea and Singapore accounted for 75.1% of the total.

2. Import price of spandex by origin

Import price of spandex was diversified in Jan-Jul but that of most varieties obviously advanced on the year. Average import price rose by $3.023/kg compared with the same period of last year to $9.165/kg in Jan-Jul, 2021 and increased by $1.953/kg compared with the same period of 2019.

3. Import of spandex by destination

Guangdong, Zhejiang, Shanghai, Jiangsu, Shandong, Tianjin, Fujian and Sichuan were major import destinations for spandex. In Jan-Jul, 2021, Zhejiang and Guangdong accounted for around 91% of the total, up by 1.6 percentage points on annual basis, which were major spandex consumption markets. Zhejiang saw particularly higher proportion, with market share up by 21 percentage points to 46% compared with the corresponding period of 2019.