China acrylic fiber imports rise y-o-y in 2021

In 2021, China acrylic fiber import volumes totaled 75,000 tons, up 10.3% from 68,000 tons of 2020.

The rise in 2021 was mainly attributed to the increase in March-May, up about 7,800 tons during the period or 49.7% year on year. On one hand, the consumption was stimulated first in overseas markets, and the recovery of Chinese production met the demand. On the other hand, Chinese acrylic fiber plants maintained low operating rate during the period due to unfavorable cash flow. In the first half year of 2020, the market was resuming work and plants were restarting production gradually under the pandemic, and the release of demand was more in the second half year. In 2021, the acrylic fiber plant operating rate averaged at 53.1%, lower than 57.4% of 2020. Under the demand recovery, spinning mills were active to seek for the sources.

For the imports in 2022, ACN profitability is supposed to shrink with high supply, and acrylic fiber producers may be flexible to adjust the prices based on own cash flow, to conform the yarn market situation. Therefore, acrylic fiber imports may see year on year decline again in 2022.