China's PSF exports hit a new high in Oct, 2024

According to the China Customs, uncombed or uncarded PSF exports of China reached 126.7kt in Oct, 2024, up 20.4% year on year, and 21% month on month, to reach a record high. Imports were about 9,093 tons, up 2.9% year on year but down 14.5% month on month.

In the first ten months of 2024, the exports amounted to 1.078 million tons, up 6.8% from the same period of 2023, to be the highest during 2019-2024.

In terms of the top 10 export destinations in the first ten months, Vietnam remained the largest export markets, with a volume of 223,075 tons, up about 23.15% or 41,939 tons from the same period of 2023. Egypt saw the largest yearly growth of 55.9% to 9,886.9 tons. Pakistan ranked the second place, with a volume of 109,625 tons, up 6.89% year on year. Exports to Indonesia saw the largest decline, down by 35.7% year on year. Exports to Turkey and the Bangladesh also declined obviously, down by 26.25% and 23.3% 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. According to some reflection, after the macro environment in end Sep warms up, some orders are concluded in Oct, which might lead to higher exports.