China's PSF export change in Jan-Jul, 2024

According to the China Customs, uncombed or uncarded PSF exports of China reached 99.4kt in Jul, 2024, up 1.9% year on year, but down 15.2% month on month. Imports were about 8,678 tons, up 1.1% year on year and 27.8% month on month.

In the first seven months of 2024, the exports amounted to 724.6kt, up 3.1% from the same period of 2023, to be the highest during 2019-2024.

In terms of the top 10 export destinations in the first seven months, Vietnam remained the largest export markets, with a volume of 152,423 tons, up about 29.1% or 34,395 tons from the same period of 2023. Russia saw the largest yearly growth of 54.7% to 37,536 tons. Pakistan ranked the second place, with a volume of 75,834 tons, but down 3.5% year on year. Exports to Indonesia saw the largest decline, down by 31.5% year on year. Exports to Turkey and the United States also declined obviously, down by 28.1% and 20.8% respectively.

The development of Chinese refining-chemical integration in the past few years not only optimize own industrial chain, but also gains obvious cost advantages on international market. Therefore, direct-spun PSF has much stronger competitiveness on international market, and buyers from Southeast Asia and Pakistan turn to import from yarn to PSF. Nevertheless, there is a new round of anti-dumping investigation. Brazil has started in the first quarter. In addition, if sea freight remains high and PSF producers support the processing spread, exports are hard to rise largely later.