In December 2020, my country’s textile and apparel exports were US$26.201 billion, a month-on-month increase of 6.55%. Among them, the export value of textiles (including textile yarns, fabrics and products) was US$12.291 billion, a month-on-month increase of 2.09%; the export value of clothing (including clothing and clothing accessories) was US$13.910 billion, a month-on-month increase of 10.84%.
From January to December 2020, my country’s cumulative export volume of textiles and clothing was US$291.222 billion, a year-on-year increase of 9.58%, of which the cumulative export volume of textiles was US$153.839 billion. A year-on-year increase of 29.24%; the cumulative export volume of clothing was US$137.382 billion, a year-on-year decrease of 6.37%. The overall clothing exports increased significantly, driving the prices of chemical fiber products to jump collectively.
The price of spandex has increased by 10,000 yuan/ton
Relevant data shows that in January 2021 On the 19th, spandex 40D was quoted at 39,000-42,000 yuan/ton, 30D was quoted at 48,000-52,000 yuan/ton, and 20D was quoted at 50,000-52,000 yuan/ton. However, the average price of spandex 40D in 2020 was only 30,900 yuan/ton, an increase of nearly 10,000 yuan/ton. Ton.
According to data from Zhuochuang Information and Chemical Fiber Industry Association , as of the end of 2020, domestic spandex production capacity was approximately 890,000 tons, and the cumulative spandex output from January to October was 678,000 tons, a year-on-year increase of 5.0%. Guosen Securities predicts that the full-year spandex output in 2020 will be approximately 780,000 tons, a year-on-year increase of 7.3%, and the operating rate will remain The high is about 87.5%.
At the same time, spandex was mainly driven by the demand for epidemic prevention materials in the first half of 2020. In the second half of the year, it was mainly driven by the improvement in downstream textile and clothing exports and the improvement in spandex exports. The current inventory of spandex has dropped from 50 days in August 2020 to about 15 days. The inventory is only 15,000 tons. The demand is still strong. Spandex is mainly used for texturing textile clothing and is often mixed with other fibers for mid-to-high-end clothing. With the People’s pursuit of high-end fabrics and clothing comfort has increased, and the demand for spandex is expected to grow by more than 10% in 2021.
The price of viscose staple fiber has increased by more than last year 34%
Viscose staple fiber was quoted at 13,200-13,300 yuan/ton on January 19. The gross profit level turned from negative to positive, with an increase of about 1,800 yuan/ton since the beginning of 2021. tons, with an increase of approximately 4,000 yuan/ton since the fourth quarter of 2020. The average price of viscose staple fiber so far in 2021 is 12,375 yuan/ton, and the average price in the fourth quarter of 2020 is 10,330 yuan/ton, a month-on-month increase of 19.8%. The average price for the whole year of 2020 is 9,920 yuan/ton, a month-on-month increase of 34%.
According to Zhuochuang Information data, currently viscose The weekly inventory of short fiber is only 5 days, which is at a historical low. Downstream companies have a strong buying mentality, and orders from viscose companies are generally pre-sold until after the Spring Festival. According to data from Zhuochuang Information and the General Administration of Customs, as of the end of 2020, the domestic viscose staple fiber production capacity was approximately 5.2 million tons, the actual production capacity was approximately 4.85 million tons, and the output was approximately 3.81 million tons, a year-on-year decrease of 3.9%. The current operating rate is approximately 84%. There will be no new production capacity for viscose staple fiber in 2021.
Guosen Securities Research stated that about 60% of the downstream of viscose staple fiber is rayon yarn. Affected by the epidemic, the demand for spunlace non-woven fabrics has increased significantly, which will drive viscose growth in the future. Short fiber demand recovers.
In terms of industries, the current domestic leading spandex companies include Huafeng Chemical, Xinxiang Chemical Fiber, Hyosung Spandex, Huahai Spandex, and Taihe New Materials, with a total production capacity of 600,000 tons/year, the industry CR5 is 67%. From the perspective of new production capacity, all new production capacity in the next three years will come from five leading companies. The new production capacity of Xinxiang Chemical Fiber and Taihe New Materials will mainly replace old equipment. Huafeng, Huahai, and Hyosung will mainly replace new equipment. The production time will be after the second half of 2021. The prosperity of the spandex industry is expected to continue in the future. By then, the CR5 of the industry will exceed 70%, the bargaining power of leading companies will be further enhanced, and the high profitability of the industry is expected to be maintained.
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