China’s polyester exports reach 1.047 mn tons in July despite monthly decline.

In July 2024, the export landscape for polyester products showed mixed results, as reported by the CCF Group. Total exports reached 1.047 million tons, marking a year-on-year increase of 197,000 tons. However, this figure indicated a decline of 67,000 tons compared to previous month. From January to July 2024, cumulative exports of polyester products rose to 7.185 million tons, reflecting a robust year-on-year growth of 802,000 tons. This performance underscored a strong export trend for polyester products, despite some notable fluctuations.

A closer look at the data revealed that most polyester products, excluding filament yarn, saw year-on-year growth in July, continuing a trend observed since June. Nevertheless, on a month-on-month basis, many products experienced declines relative to June figures. During June and July, both filament yarn and staple fiber exports notably decreased month-on-month. Filament yarn exports were particularly affected by regulatory changes, including new BIS regulations, while facing a challenging comparison to last year's high base, resulting in continued negative year-on-year growth. Staple fiber, although showing resilience, followed a similar declining trend.

The decline in filament yarn and staple fiber exports during these months could be attributed to two main factors: adjustments in domestic producers' strategies, potentially adopting price-support measures that complicated export dynamics, and reduced overseas demand affecting raw material procurement.

Overall, while the polyester export sector showed resilience and significant year-on-year growth in the first seven months of 2024, challenges such as regulatory impacts and fluctuating international demand continued to shape its performance month-to-month.