October polyester exports rebound strongly across all categories

The export data for polyester products in October has been released, showing a significant rebound and overall strong performance.

According to the latest customs data, October polyester exports from Chniese mainland reached 1.133 million tons, a year-on-year increase of 256,000 tons and a month-on-month increase of 152,000 tons. Cumulative exports from January to October totaled 10.422 million tons, marking a year-on-year growth of 1.237 million tons.

The export volumes for key polyester products showed increases both year-on-year and month-on-month, including polyester filament, which had been underperforming previously.

The monthly trend chart for specific sub-products is shown below. It is evident that all product exports experienced simultaneous fluctuations in September and October, with a noticeable month-on-month decline in September, followed by a significant rebound in October. In fact, a similar trend can be observed across the broader fiber-textile-apparel value chain based on the author's analysis.

Export Trend of Specific Polyester Products

This fluctuation is likely attributed to shifts in shipment schedules.

Previously, the spokesperson for the General Administration of Customs stated that the slowdown in export growth in September was mainly due to several short-term, sporadic factors. These included two typhoons that made landfall consecutively in the Yangtze River Delta region, which caused shipping schedules to be delayed. Additionally, global shipping disruptions, container shortages, and anticipated negotiations related to the expiration of labor contracts for dockworkers on the U.S. East Coast also impacted the shipping and logistics rhythms of enterprises. As a result, some September shipments were delayed to October, leading to a significant increase in export volumes in October.

However, in terms of actual order-taking, feedback from some sources indicates that while the macroeconomic environment improved slightly at the end of September, prompting additional orders in some markets, export orders declined significantly after October. Recent feedback has also been relatively subdued, which warrants further follow-up on these data trends.

From a cumulative perspective, the negative growth in polyester filament yarn exports this year is almost certain. However, the non-fiber segment has shown considerable incremental growth, with the export market contributing significantly to this year's demand for PET bottle-grade chips.