China's Jan-May spandex import &export both reduce by 10% Y-O-Y

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.

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.

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.

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.

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.