China's PSF exports continue to reach record high in Jan-Nov, 2024

According to the China Customs, uncombed or uncarded PSF exports of China reached 121.3kt in Nov, 2024, up 14.8% year on year, but down 4.2% month on month. Imports were about 8,260 tons, down 24.0% year on year and 9.2% month on month.

In the first eleven months of 2024, the exports amounted to 1.199 million tons, up 7.5% from the same period of 2023, to be the highest during 2019-2024.

In terms of the top 10 export destinations in the first eleven months, Vietnam remained the largest export markets, with a volume of 250,194 tons, up about 21.8% from the same period of 2023, with a proportion of 20.7%. Egypt saw the largest yearly growth of 53.6% to 30,169.4 tons. Pakistan ranked the second place, with a volume of 126,418 tons, up 10.4% year on year, and its proportion reached 10.5%. Exports to Indonesia saw the largest decline, down by 33.4% year on year. Exports to Turkey and the Bangladesh also declined obviously, down by 28.8% and 22.5% respectively. The exports to the United States continued to reduce from the trade war in 2018, and its proportion only reaching 3.4%.

The PSF exports continue to grow in 2024, hitting a record high further. The growth is mainly attributed to the obvious price advantage of Chinese PSF on international market due to low polymerization costs, industrial chain upward shift of exports and part of replacement of viscose by PSF. In 2025, with Trump returning to power, China and U.S. relations are likely to become tense again, increasing export pressure and leading to pessimistic expectations for apparel demand. However, the export advantages of textiles still exist, and PSF exports are expected to maintain growth, although increases in exports will be limited due to anti-dumping measures.