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Insight | Time:Dec 6 2017 1:18PM
Nylon 6 textile filament exports surpass imports
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Nylon 6 filament supply becomes seriously surplus after large capacity expansions in 2011. Chinese domestic market has witnessed fierce competition, and export market develops greatly.

Import volume of nylon 6 filament occupies around 10% of the total volume of Chinese domestic nylon 6 filament in the past few years, and it is higher than export volume. But as Chinese domestic high-grade filament market expands and matures, demand for imported high-grade products decreases gradually, while exports increase. Export volume occupies around 5% of the total volume in the past few years, but it increases annually and surpasses import volume in 2017. Net export volume turns positive from negative.

Export volume of nylon 6 textile filament rises year by year. In terms of destinations, exports to Brazil, Vietnam, Turkey, Indonesia and South Korea climb evidently. On one hand, downstream textile capacity expands in the countries and some Chinese domestic plants move to the countries, so demand for Chinese domestic textile filament rises. On the other hand, Chinese domestic filament is more cost-effective and it replaces the filament of some overseas suppliers. Exports to Hong Kong, Italy and Thailand decrease obviously. Particularly, the proportion of exports to Hong Kong decreases from 17% in 2012 to 6% in 2017.

Rapid rise of nylon 6 filament exports not only lies in higher quality and larger capacity, but also results from increasing RMB exchange rate. The exchange rate hiked greatly from end-2015 to early-2017, which promoted nylon 6 filament exports largely, and it stayed high at 6.5-6.8 though it dropped in 2017.

As Chinese domestic textile filament plants introduce high-grade and efficient spinning devices, there would be more high-end and diverse filament in Chinese mainland. If macro economy does not fluctuate largely, nylon 6 filament exports would continue rising in the future.

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