Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan - 2023

Contents:

1. Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan (CIF) - 2023
2. Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan (FOB) - 2023
3. Imports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan
4. Exports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan

Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan (CIF) - 2023

The average import price for synthetic staple fibres, not carded, combed or otherwise processed for spinnings stood at $1,250 per ton in December 2023, shrinking by -2.1% against the previous month. Overall, the import price showed a perceptible slump. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 45% month-to-month. The import price peaked at $3,213 per ton in June 2023; however, from July 2023 to December 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($13,665 per ton), while the price for Indonesia ($995 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan (FOB) - 2023

The average export price for synthetic staple fibres, not carded, combed or otherwise processed for spinnings stood at $1,079 per ton in December 2023, shrinking by -22.9% against the previous month. Over the period under review, the export price recorded a perceptible setback. The most prominent rate of growth was recorded in May 2023 an increase of 266% m-o-m. As a result, the export price attained the peak level of $3,932 per ton. From June 2023 to December 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was Turkey ($15,078 per ton), while the average price for exports to the UK ($1,003 per ton) was amongst the lowest.

From December 2022 to December 2023, 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.

Imports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan

In 2022, overseas purchases of synthetic staple fibres, not carded, combed or otherwise processed for spinnings decreased by -53.8% to 146K tons, falling for the second year in a row after two years of growth. Overall, imports recorded a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 70%. As a result, imports attained the peak of 324K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of synthetic staple fibres, not carded, combed or otherwise processed for spinnings contracted notably to $261M in 2022. Over the period under review, imports, however, showed a modest expansion. The pace of growth was the most pronounced in 2021 with an increase of 32%. As a result, imports attained the peak of $415M, and then contracted dramatically in the following year.

Top Suppliers of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning to Pakistan in 2022:

1. China (29.6K tons)
2. Indonesia (21.3K tons)
3. Thailand (10.5K tons)
4. South Korea (3.2K tons)
5. Taiwan (Chinese) (2.8K tons)
6. Malaysia (1.9K tons)
7. Bangladesh (1.6K tons)

Exports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Pakistan

In 2022, the amount of synthetic staple fibres, not carded, combed or otherwise processed for spinnings exported from Pakistan fell to 12K tons, with a decrease of -5% against 2021 figures. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 237%. As a result, the exports attained the peak of 12K tons, and then shrank in the following year.

In value terms, exports of synthetic staple fibres, not carded, combed or otherwise processed for spinnings expanded markedly to $21M in 2022. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 255% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Top Export Markets for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning from Pakistan in 2022:

1. Turkey (2.6K tons)
2. United States (2.0K tons)
3. United Arab Emirates (0.7K tons)
4. United Kingdom (0.2K tons)
5. Italy (0.1K tons)
6. Lithuania (0.1K tons)

Source: IndexBox Market Intelligence Platform