China's spandex import &export keep falling Y-O-Y in Jan-Jul

According to the latest data from China customs, exports of spandex amounted to 47.3kt in Jan-Jul, 2022, a year-on-year decrease of 7.3% or 3743 tons. Imports of spandex declined by 27.5% or 5387 tons on the year to 14.2kt in in Jan-Jul. That meant the net exports were at 33kt, up 5.2% on annual basis. Imports of spandex touched bottom in Feb and gradually increased but dramatically fell in Jun and Jul. Exports of spandex kept falling month by month in Jan-May, moved up in Jun and shrank on the month in Jul.

Export down by near 10% y-o-y

According to the latest data from China customs, exports of spandex amounted to 47.3kt in Jan-Jul, 2022, a year-on-year decrease of 7.3% or 3743 tons. The average export unit price was at $8.687/kg in Jan-Jul, 2022, up by $0.688/kg on the year. Exports of spandex slipped by near 10% on the year in Jan-Jul, 2022. The production and export recovered in textile and apparel production bases including India and Vietnam, but demand for spandex dropped with faster falling spandex price. Suppliers saw reducing new orders and dropping export volume. Spandex exports were at 5,562 tons in Jul, down 17.3% m-o-m and up 13.5% y-o-y respectively, and the average export unit price at $7.278/kg, down $0.907/kg.

Spandex were exported to 95 nations or regions in Jan-Jul, 2022, up by 1 on annual basis. Turkey remained the biggest export destination, followed by South Korea and Pakistan. The proportion of the top three nations amounted to 40.8% of the total. Exports to Indonesia apparently rose by 51.3% year on year to 1,659 tons.

Exports to Brazil, Bangladesh and Taiwan, China decreased fell by 30-50% on the year, with volume down by 1,063-1,375 tons.

Imports reduced by around 30% on annual basis

Imports of spandex declined by 27.5% or 5,387 tons on the year to 14.2kt in in Jan-Jul. Import unit price averaged at $10.099/kg, up by $0.934/kg year on year. Imports of spandex remained low in Jan-Jul, 2022. As Hyosung Quzhou's plant suspended production in Apr and May amid the pandemic, imports of spandex from Vietnam increased, with imports of May hitting 4-year high. However, imports in Jun and Jul shrank to 4-year low.

Vietnam, Singapore, South Korea and Japan remained major import origins of spandex, with proportion of these four nations as high as 90% in Jan-Jul, 2022, with import volume from these four nations down by 20-30% year on year.