Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea - 2022

Contents:

1. Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea (CIF) - 2022
2. Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea (FOB) - 2022
3. Imports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea
4. Exports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea

Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea (CIF) - 2022

The average import price for synthetic staple fibres, carded, combed or otherwise processed for spinnings stood at $6,167 per ton in 2022, declining by -15.3% against the previous year. In general, the import price, however, enjoyed a perceptible increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 49% against the previous year. As a result, import price reached the peak level of $7,285 per ton, and then plummeted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($12,000 per ton), while the price for Taiwan (Chinese) ($867 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea (FOB) - 2022

In December 2022, the average export price for synthetic staple fibres, carded, combed or otherwise processed for spinnings amounted to $5,602 per ton, with a decrease of -51.8% against the previous month. In general, the export price recorded a pronounced decrease. The pace of growth appeared the most rapid in January 2022 an increase of 236% against the previous month. As a result, the export price reached the peak level of $24,756 per ton. From February 2022 to December 2022, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Japan ($78,333 per ton), while the average price for exports to China ($1,635 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea

In 2022, overseas purchases of synthetic staple fibres, carded, combed or otherwise processed for spinnings were finally on the rise to reach 536 tons after two years of decline. In general, imports, however, continue to indicate a abrupt descent.

In value terms, imports of synthetic staple fibres, carded, combed or otherwise processed for spinnings reduced to $3.3M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +12.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.4% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 38%.

Top Suppliers of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning to South Korea in 2022:

1. United States (217.1 tons)
2. China (165.9 tons)
3. Japan (95.5 tons)
4. Italy (23.5 tons)
5. Turkey (13.0 tons)
6. Taiwan (Chinese) (8.8 tons)
7. Vietnam (8.8 tons)

Exports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in South Korea

For the third consecutive year, South Korea recorded decline in overseas shipments of synthetic staple fibres, carded, combed or otherwise processed for spinnings, which decreased by -88% to 289 tons in 2022. Over the period under review, exports recorded a sharp slump. The smallest decline of -1.3% was in 2021.

In value terms, exports of synthetic staple fibres, carded, combed or otherwise processed for spinnings fell notably to $1.4M in 2022. Overall, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year.

Top Export Markets for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning from South Korea in 2022:

1. Kenya (86.8 tons)
2. China (66.8 tons)
3. Uganda (56.8 tons)
4. Vietnam (26.5 tons)
5. India (25.7 tons)
6. Japan (12.9 tons)
7. Turkey (4.6 tons)
8. Indonesia (1.1 tons)
9. United States (1.0 tons)

Source: IndexBox Market Intelligence Platform