Decline in U.S. Broadwoven Fabric Price to $1.1 per Square Meter in July 2023

Decline in U.S. Broadwoven Fabric Price to $1.1 per Square Meter in July 2023

In July 2023, the price of broadwoven fabric in the United States dropped to $1.1 per square meter (CIF, US), representing a decrease of -5.6% compared to the previous month. However, the overall import price showed a relatively stable trend during the period under review. The most significant growth rate was observed in June 2023, with a 9.3% month-on-month increase in the average import price. While the price reached its peak at $1.2 per square meter in January 2023, it remained slightly lower from February 2023 to July 2023. Prices varied depending on the country of origin, with South Korea having the highest price of $2.1 per square meter, while India had one of the lowest prices at $351 per thousand square meters. From July 2022 to July 2023, Turkey experienced the most notable price growth at 10.2%, while other major suppliers witnessed more modest increases. Import volume of broadwoven fabric into the United States surged by 10% in July 2023, reaching 205M square meters compared to the previous month. However, imports recorded an overall decline during the period under review. The most significant growth rate in import volume was observed in April 2023, with a 16% month-on-month increase. Imports reached their peak at 280M square meters in July 2022 but failed to regain momentum from August 2022 to July 2023. In terms of value, broadwoven fabric imports reached $222M in July 2023. Although imports continued to decrease, the most rapid growth rate was recorded in May 2023, with an 8.3% increase compared to the previous month. India was the largest supplier of broadwoven fabric to the United States in July 2023, accounting for a 44% share of total imports. China ranked second with a 38M square meter import volume, while Pakistan ranked third with a 7.5% share. Over the period from July 2022 to July 2023, India experienced an average monthly growth rate of -1.5% in import volume, while China and Pakistan had average monthly growth rates of -0.8% and -0.7%, respectively. Furthermore, China, India, and Pakistan were the top three suppliers in terms of value, with a combined 37% share of total imports.

Source: IndexBox Market Intelligence Platform

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