Latest data from China Customs shows, China’s spandex imports declined 7.4 per cent or 853 tons Y-o-Y to 10.6,000 tons during January-May period. Exports declined 15.8 per cent to 24.4000 tons 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.
As per a CCF Group report, exports of spandex decreased 13.4 per cent Y-o-Y to 35.1000 tons in the January-May, 2022 period. The average export unit price increased to $9.007/kg during the period. Exports of spandex reduced month by month during January-May, 2022. Although production of textiles and apparels recovered in Vietnam and India etc, replenishment of spandex dropped with rapidly declining spandex price. Spandex exports were especially low in May, at 5,417 tons, down 8 per cent M-o-M and 30.2 per cent Y-o-Y respectively, and the average export unit price at $8.715/kg, up $0.187/kg.
Spandex was 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 per cent 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. Vietnam, Singapore and South Korea remained major import origins of spandex, with proportion of these three nations as high as 80 per cent in January-May.
Imports from Vietnam rose by 11.5 per cent to 5,038 tons, those from Singapore reduced by 12.7 per cent, and those from South Korea and Japan apparently dropped by 15.1 per cent and 23.5 per cent Y-o-Y respectively.