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Glass fiber industry: Roving / Yarn market analysis in 2022
August 2, 2022
Domestic: The price of roving is loose at a high level, and the price of glass fiber yarn has bottomed out and rebounded. In terms of roving, as of July 22, 2022, the average price of alkali-free glass fiber roving was 6,117 yuan/ton, with a monthly increase of -332 yuan/ton; the average price of medium-alkali glass fiber yarn was 5,900 yuan/ton, and the price remained unchanged this month. ; The average price of direct yarn is 5650 yuan/ton, and the monthly increase is -350 yuan/ton. Due to the centralized production of new production capacity, the price of roving is loose at a high level. In terms of spinning yarn, as of July 22, 2022, the average price of electronic yarn was 9,550 yuan/ton, with a monthly increase of 50 yuan/ton. After the epidemic, PCB production in East China has gradually recovered, downstream demand has improved, and the price of electronic yarn has bottomed out.
Due to the disruption of the epidemic, inventories rose slightly. The overall inventory of the glass fiber industry in June was 447,100 tons, a year-on-year increase of 216,900 tons and a month-on-month increase of 54,400 tons. Affected by the epidemic, downstream enterprises started to slow down their shipments.
The roving capacity is put into operation as planned, and the spinning capacity is slightly delayed. From the point of view of actual production, in terms of roving, the actual new production capacity of the industry up to now is 370,000 tons, which are 100,000 tons of Hebei Yuniu Fiberglass (March 28), 30,000 tons of Sichuan Yuda (May 20), and 15 tons of Jushi Chengdu. 10,000 tons (May 28), Chongqing Sanlei 100,000 tons (June 27), HD Fiberglass 50,000 tons (July 8); moon). On the whole, the production of roving capacity is progressing as planned, which will lead to price loosening in the short term. In terms of fiber spun yarn, up to now, the newly added production capacity is 355,000 tons, which are 60,000 tons of Taishan Fiberglass (commissioned at the end of 21), 60,000 tons of Kingboard Group (mid-to-early January), and 100,000 tons of China Jushi (June 18) , Chongqing International 150,000 tons (June 29), in addition to Taishan fiberglass 15,000 tons of production line cold repair (end of January).
Compared with the production plan, the 100,000-ton production capacity of China Jushi has been slightly delayed, supporting the price to rebound in the short term.
The growth rate of exports has declined, which is related to the entry of the overseas market into the off-season, in which the prices of roving, glass fiber and products still maintain a year-on-year increase. In June 2022, my country's glass fiber and products exported 169,400 tons, a year-on-year increase of 15.6%, a month-on-month decrease of 10.0%, and the year-on-year growth rate slowed down; the average export price was 1,943 US dollars / ton, an increase of 5.3% year-on-year and a month-on-month increase of 3.3%. %.
Among them, the export of roving was 59,600 tons, down 4.8% year-on-year and 12.84% month-on-month; the average export price was 1,135 US dollars / ton, an increase of 10.6% year-on-year and a month-on-month decrease of 1.5%. The month-on-month drop was due to the loosening of domestic prices and the intensified export competition. Compared with the domestic and foreign roving price increases, the average monthly increase from January to June was 23.8%, while the domestic increase was only 6.8%, and the foreign increase was still higher than the domestic one.