China's May polyester industrial yarn exports spike to India but shrink to EU

According to the latest data from China customs, PIY exports were at 42.7kt in May, 2023, down by 9.1% m-o-m and 13% y-o-y respectively.

Exports of PIY to the non-EU nations were at 35.8kt in May, up by 0.4% on the month, and those to EU were at 6.9kt in May, down by 39% over Apr. Therefore, the proportion of EU decreased to 16% in May from 24% in Apr. Actually, falling exports of PIY to the EU was within expectation. On May 12, 2023, the European Commission announced to launch the second anti-dumping sunset review investigation on high tenacity yarns originating in China, and the anti-dumping tariff apparently increased in the final decision. The specific analysis can be found in China's polyester industrial yarn export to face escalating pressure after EU raised anti-dumping duty. Under such circumstance, the exports of PIY to EU were greatly impacted, which shrank substantially in May.

There was another big change in May. Exports of PIY to India almost doubled. Exports of PIY to India were at 5603 tons in May, up by 96% on the month and 75% on the year respectively, hitting historic high, which was mainly impacted by the BIS certification of India and some players purchased in advance.

In summary, impacted by the anti-dumping of the EU and the news of BIS certification of India, exports of PIY witnessed two big changes in May. The first one was plunging exports to the EU and another one was surging exports to India.