VFY export price of China further rises in Sep despite a notable decline in volume

According to customs data, VFY (H.S. code: 54033190) export of China in Sep 2024 is 7,143 tons, a month-on-month decrease of 19.77% and a year-on-year reduction of 34.48%. In Jan-Sep, the cumulative export volume is 68,450 tons, up 1.26% from the same period of 2023 with the volume of 67,601 tons. The average export volume in the first nine months of 2024 is 7,606 tons, which is higher than 7,511 tons in the same period of 2023.

The export price of VFY has been falling since the beginning of this year, from $5,676/mt in Jan to $5,156/mt in Jul, but rebounding to $5,514/mt in Sep. In Jan-Sep this year, the average export price is $5,359/mt, which is much lower than $5,715/mt in the same period of 2023.

India, Pakistan and Turkey are still the top three destinations of China's VFY export, accounting for 83% of total in the first nine months of 2024. As for origins, Jilin Chemical Fiber, Xinxiang Chemical Fiber, and Yibin Grace are the major exporters in China, taking up 94% of the total volume.

Among the top destinations like India, Pakistan and Turkey, the export in Sep 2024 generally decreased compared to the same period of 2023, especially a marked reduction of India at 45%. The export to the rest two countries respectively fell by 19% and 22% on yearly basis. As for the top three origins, the export from Jilin, Henan and Sichuan all decreased, representing a year-on-year reduction of 8%, 52% and 34% in Sep.