Spandex: Jan-Feb exports rise but imports reduce

According to the latest data from China customs, exports of spandex scored 16.5kt in Jan-Feb, 2022, up 8.2% on annual basis. Imports of spandex approached 3,033 tons, down by 23.4% over the same period of last year. The net export was at 13.4kt, a year-on-year increase of 19.3%.

Export saw near 10% of increase

Exports of spandex scored 16.5kt in Jan-Feb, 2022, up 8.2% or 1244 tons on annual basis. The average export unit price was at $9.344/kg in Jan-Feb, up by $3.528/kg on the year. As for monthly data, exports were at 8440 tons in Jan, up by 35.3% m-o-m and down 3.2% y-o-y, with export unit piece at $9.62/kg, down by $0.528/kg on monthly basis. Spandex exports totaled 8029 tons in Feb, down 5% on the month and up 23% over the corresponding period of last year, with export unit price down by $0.566/kg to $9.054/kg. Exports of spandex witnessed a big year-on-year increase, which was mainly because domestic supply of spandex was longer and overseas demand for spandex sustained strong.

There were 77 export destinations for spandex in Jan-Feb, 2022, up by 5 compared with the same period of last year. Turkey remained the biggest export market, followed by South Korea, Egypt and Pakistan. The proportion of these four nations accounted for 60.2% of the total.

Spandex imports reduced by more than 20%

Imports of spandex approached 3,033 tons, down by 23.4% or 928 tons over the same period of last year. The average import unit price rose by $3.480/kg on the year to $11.320/kg in Jan-Feb, 2022. Spandex imports decreased by 43% on the month and 35.3% on the year respectively to 1,630 tons in Jan 2022 and the unit price averaged at $1.632/kg, down by $0.069/kg on the month. Spandex imports reached 1,403 tons in Feb, down 14% on monthly basis and 3% on yearly basis respectively. The import unit price was at $10.958/kg, down by $0.674/kg m-o-m.

Vietnam, Singapore and South Korea were major import origins of spandex, totally taking up more than 75% of the total. Imports from Vietnam obviously decreased and those from Japan also reduced by around 120 tons. Falling imports from Vietnam was mainly because supply of spandex became longer instead of being tight and downstream demand was plain. Domestic buyers mainly consumed spandex produced by foreign spandex plants in China. As the regulation of pandemic eased in Southeast Asia, production and export recovered. Local demand in Southeast Asia and exports to nearby regions rose.