Spandex exports move down in Q1-Q3, 2020
According to the customs data, exports of spandex (Hs code: 54024410) amounted to 46.5kt in Jan-Sep, 2020, down by 2.9% or 1,393 mt on the year, mainly affected by the COVID-19. Average export unit price was $4.764/mt in Jan-Sep, down by $0.464/kg y-o-y. Spandex exports totaled 6602mt in Sep, up 9.6% m-o-m and 32.1% y-o-y respectively, and the average export price was at $4.618/kg, down by $0.029/kg on the month.
Spandex exports curved a “V-type” tendency in Jan-Sep, 2020. Spandex exports surged by 15.6% on the year in Q1, declined by around 40.5% y-o-y in Q2 and gradually moved up in Q3. The exchange rate of USD against RMB appreciated in Jul-Sep, but overseas demand for textiles and apparels gradually recovered with eased lockdown, recovering production abroad but the shutdown of some overseas plants. Exports in Aug and Sep rose by 17.6% and 32.1% on the year respectively, keeping rising for 2 months after decreased in Apr-Jul.
1. Exports of spandex to Turkey declined but those to Brazil rose
Exports of spandex to Vietnam, Brazil, South Korea, Taiwan, China and Columbia rose on the year in Jan-Sep, 2020, and those to other major destinations fell apparently. Export markets for spandex increased by 2 to 90 in Jan-Sep affected by the pandemic.
Turkey remained the biggest destination in Jan-Sep, with volume at 7,526mt, sharing around 16.2% of the total spandex exports, but the volume decreased by around 30% on the year. Local production of textiles and apparels was impacted by the pandemic in Mar-Jun, showing apparently falling demand for spandex. Exports to Brazil increased and the proportion of Brazil was at 7.7%, up by 5.6%.
Exports of spandex in Jan-Sep, 2020 by destination (Unit: tons) | |||
Volume | Proportion | Proportion change | |
Turkey | 7526 | 16.20% | / |
Vietnam | 3879 | 8.30% | 0.50% |
Brazil | 3565 | 7.70% | 5.60% |
South Korea | 3397 | 7.30% | / |
Egypt | 3090 | 6.60% | -1% |
Iran | 2631 | 5.70% | / |
Pakistan | 2187 | 4.70% | / |
Bangladesh | 1886 | 4% | / |
Others (81 nations) | 157000 | 33.80% | 2.10% |
- Export unit price of spandex by nations
Average export unit price of spandex largely decreased in Jan-Sep, 2020, which was at $4.764/mt, down $0.464/kg compared with the same period of last year.
3.Export origins of spandex by province
Zhejiang, Jiangsu, Guangdong, Chongqing, Henan and Shandong were major export origins for spandex in Jan-Sep, 2020, with the total proportion of these provinces at 93.3%, up by 0.1% on the year.