Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea - 2022
Contents:
- Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea (FOB) - 2022
- Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea (CIF) - 2022
- Exports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea
- Imports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea
Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea (FOB) - 2022
In December 2022, the average export price for synthetic staple fibres, not carded, combed or otherwise processed for spinnings amounted to $1,359 per ton, approximately mirroring the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in February 2022 when the average export price increased by 4.2% m-o-m. The export price peaked at $1,480 per ton in July 2022; however, from August 2022 to December 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was China ($2,047 per ton), while the average price for exports to Poland ($958 per ton) was amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea (CIF) - 2022
In 2022, the average import price for synthetic staple fibres, not carded, combed or otherwise processed for spinnings amounted to $2,125 per ton, growing by 4.5% against the previous year. In general, the import price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 20% against the previous year. Over the period under review, average import prices attained the peak figure at $3,547 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
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 the United States ($10,789 per ton), while the price for Vietnam ($777 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Synthetic Staple Fibres, Not 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, not carded, combed or otherwise processed for spinnings, which decreased by -13.5% to 678K tons in 2022. Over the period under review, exports recorded a precipitous decline. The smallest decline of -3% was in 2020.
In value terms, exports of synthetic staple fibres, not carded, combed or otherwise processed for spinnings declined slightly to $1.2B in 2022. Overall, exports continue to indicate a abrupt slump.
| Export of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 177 | 155 | 168 | 159 | -3.5% |
| China | 165 | 152 | 144 | 94.0 | -17.1% |
| Turkey | 41.1 | 36.7 | 46.5 | 61.3 | 14.3% |
| Vietnam | 68.6 | 60.3 | 63.9 | 58.3 | -5.3% |
| Italy | 59.2 | 46.7 | 61.8 | 56.3 | -1.7% |
| Japan | 59.9 | 45.0 | 47.0 | 53.8 | -3.5% |
| Germany | 51.6 | 45.6 | 51.8 | 51.2 | -0.3% |
| Poland | 45.4 | 43.4 | 49.9 | 45.1 | -0.2% |
| Belgium | 25.8 | 22.8 | 26.5 | 26.7 | 1.1% |
| Spain | 20.9 | 19.9 | 25.2 | 26.5 | 8.2% |
| Indonesia | 22.0 | 20.6 | 27.9 | 26.3 | 6.1% |
| United Kingdom | 32.5 | 27.1 | 27.7 | 26.1 | -7.0% |
| Brazil | 23.8 | 19.0 | 23.4 | 24.2 | 0.6% |
| Others | 1,460 | 1,238 | 462 | 482 | -30.9% |
| Total | 2,253 | 1,932 | 1,226 | 1,191 | -19.1% |
Top Export Markets for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning from South Korea in 2022:
- United States (109.1K tons)
- China (46.6K tons)
- Italy (46.1K tons)
- Poland (43.1K tons)
- Vietnam (38.8K tons)
- Turkey (38.2K tons)
- Japan (36.2K tons)
- Germany (33.2K tons)
- United Kingdom (24.7K tons)
- Spain (22.8K tons)
- Belgium (19.7K tons)
- Indonesia (18.7K tons)
- Brazil (17.1K tons)
Imports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea
For the third year in a row, South Korea recorded decline in supplies from abroad of synthetic staple fibres, not carded, combed or otherwise processed for spinnings, which decreased by -56.6% to 18K tons in 2022. In general, imports faced a sharp reduction. The smallest decline of -4.3% was in 2020.
In value terms, imports of synthetic staple fibres, not carded, combed or otherwise processed for spinnings fell markedly to $38M in 2022. Overall, imports saw a dramatic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 2.1% against the previous year.
| Import of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.7 | 16.1 | 18.5 | 16.2 | 8.5% |
| United States | 8.3 | 4.2 | 5.1 | 5.7 | -11.8% |
| Japan | 3.3 | 4.0 | 4.0 | 5.1 | 15.6% |
| Vietnam | 2.6 | 3.2 | 3.2 | 2.9 | 3.7% |
| Thailand | 6.5 | 3.1 | 2.5 | 1.8 | -34.8% |
| Indonesia | 5.2 | 2.5 | 1.8 | 1.6 | -32.5% |
| Malaysia | N/A | N/A | N/A | 1.6 | 0% |
| Taiwan (Chinese) | 3.3 | 1.9 | 0.8 | 0.6 | -43.3% |
| Others | 53.3 | 46.4 | 47.2 | 2.3 | -64.9% |
| Total | 95.2 | 81.4 | 83.2 | 37.7 | -26.6% |
Top Suppliers of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning to South Korea in 2022:
- China (8.4K tons)
- Vietnam (3.7K tons)
- Thailand (1.4K tons)
- Indonesia (1.2K tons)
- Japan (0.9K tons)
- Malaysia (0.8K tons)
- United States (0.5K tons)
- Taiwan (Chinese) (0.2K tons)
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