July polyester exports: growth amid continuing divergence

Based on the latest customs data, polyester product exports in July amounted to 1.047 million tons, an increase of 197,000 tons year-on-year but a decrease of 67,000 tons month-on-month. From January to July, total polyester product exports reached 7.185 million tons, with a cumulative year-on-year increase of 802,000 tons. Overall, the exports of polyester products this year has been relatively good, although disparities remain evident.

Specifically, looking at the details, from a year-on-year perspective, July continued the trend of June, with all products except for filament yarn showing year-on-year growth. However, from a month-on-month perspective, most products experienced a certain degree of decline compared to June.

From January to July, the cumulative year-on-year increase in polyester exports was 802,000 tons, better than the same period last year (582,000 tons). Of this, bottle-grade PET alone contributed 712,000 tons, making it the main driver of the export increase. PET fiber chips and films also showed impressive growth, performing better than last year. However, filament yarn and staple fiber exports reversed, with filament yarn showing the weakest performance this year.

Looking at the trends in specific products, in June and July, both filament yarn and staple fiber exports saw significant declines month-on-month. Filament yarn was affected by BIS factors, and the higher base in the same period last year led to continued negative year-on-year growth. Staple fiber performed slightly better, but the overall trend was similar. In contrast, the non-fiber segment performed remarkably well in June and July, with both chip and bottle-grade PET exports performing well, and PET film exports also standing out, indicating market differentiation among different product categories.

There could be two possible explanations for the decline in filament yarn and staple fiber exports in June and July: either domestic filament yarn to staple fiber producers adjusted their strategies, gradually implementing a price-support strategy, making export negotiations more difficult; or overseas demand declined, leading to a corresponding decrease in raw material procurement.