Other Synthetic Filament Yarn (Excluding Sewing Thread) Prices in China
China Other Synthetic Filament Yarn (Excluding Sewing Thread) Export Price in September 2022
In September 2022, the other synthetic filament yarn (excluding sewing thread) price amounted to $6,054 per ton (FOB, China), with a decrease of -9% against the previous month. Over the last eight months, it increased at an average monthly rate of +2.0%. The most prominent rate of growth was recorded in February 2022 an increase of 23% m-o-m. Over the period under review, the average export prices attained the maximum at $6,654 per ton in August 2022, and then contracted in the following month.
There were significant differences in the average prices for the major export markets. In September 2022, the country with the highest price was Russia ($14.5 per kg), while the average price for exports to Brazil ($1,651 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.
China Other Synthetic Filament Yarn (Excluding Sewing Thread) Exports
In September 2022, shipments abroad of other synthetic filament yarn (excluding sewing thread) was finally on the rise to reach 3.5K tons for the first time since May 2022, thus ending a three-month declining trend. Overall, exports, however, continue to indicate a slight descent. The pace of growth was the most pronounced in March 2022 when exports increased by 52% m-o-m. The exports peaked at 4.6K tons in May 2022; however, from June 2022 to September 2022, the exports failed to regain momentum.
In value terms, exports of other synthetic filament yarn (excluding sewing thread) expanded significantly to $21M (IndexBox estimates) in September 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 with an increase of 26% month-to-month. The exports peaked at 26K tons in May 2022; however, from June 2022 to September 2022, the exports remained at a lower figure.
China Other Synthetic Filament Yarn (Excluding Sewing Thread) Exports by Country
Bangladesh (613 tons) was the main destination for exports of other synthetic filament yarn (excluding sewing thread) from China, accounting for a 17% share of total exports. Moreover, exports of other synthetic filament yarn (excluding sewing thread) to Bangladesh exceeded the volume sent to the second major destination, South Korea (299 tons), twofold. Vietnam (264 tons) ranked third in terms of total exports with a 7.5% share.
From January 2022 to September 2022, the average monthly rate of growth in terms of volume to Bangladesh was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: South Korea (+5.9% per month) and Vietnam (+4.2% per month).
In value terms, Russia ($1.9M), Vietnam ($1.9M) and Turkey ($1.6M) were the largest markets for other synthetic filament yarn (excluding sewing thread) exported from China worldwide, with a combined 25% share of total exports.
In terms of the main countries of destination, Russia, with a CAGR of +48.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
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