Polyester cord fabric imports surge YOY in Q3 2023 but exports decline

According to the data from China customs, import of cord fabric made from high-tenacity polyester yarn (hereinafter referred to as polyester cord fabric) was at 3358 tons in Jan-Sep, 2023, a year-on-year increase of 83%, and export of polyester cord fabric was at 104042 tons, down 0.92% on annual basis. The net exports amounted to 100684 tons, down by 2.41% on annual basis.

Supply of polyester cord fabric was tight due to sound demand for tyre. Price of HMLS PIY increased with tight supply and moderate cost and that of polyester cord fabrics was revised up by 500yuan/mt in late-Oct. 

Polyester cord fabric is a net exported product in China, with export far bigger than import.

Exports of polyester cord fabrics gradually moved up month by month in Q1 2023 and the exports in Feb and Mar both increased on the year. In the second quarter, export of polyester cord fabrics decreased over Q1, the Jun export hit yearly low, while export gradually climbed up in Jul and Aug and decreased slightly in Sep.

Among the export destinations, in Jan-Sep, 2023, Thailand remained the largest export destination, accounting for 24%, followed by Japan and South Korea, taking up 13% and 10% respectively. China's polyester cord fabrics were still mainly exported to Asia. 

As for the YOY change of absolute export volume, export to India rose the most among the major export destinatons and the export to Thailand still dropped the biggest.