June polyester exports recede, mainly dragged down by PFY and PET bottle chip

According to the latest data from China customs, exports of polyester products decreased on the month and on the year in Jun 2023, and the decrement of PFY and PET bottle chip export was apparent.

Export increased in the first half of 2023: mainly contributed by PFY and PSF

Export of polyester products outshined in H1 2023, which amounted to 5534kt, up by 592kt over the same period of last year. Export of PFY accounted for above 70% in total polyester export and that of PSF occupied 20%, up by 119kt on annual basis, while that of PET bottle chip and PET fiber chip did not rise much, only increasing by 23kt year on year.

In terms of YOY growth rate, the exports of polyester products rose by 12%. Among this, export of PFY advanced by 27%, that of PSF grew by 24%, that of BOPET rose by 6% and that of PET fiber chip and PET bottle chip ascended by only 1%.

June export decreased on the month, mainly attributed by PFY and PET bottle chip

As for the month-on-month basis, exports of polyester products were at 868kt in Jun, down by 54kt on the month. Export of PSF saw minor increase on the month and that of other products all dropped over last month, especially PFY and PET bottle chip.

With falling overseas demand in 2023, export of PET bottle chip confronted obvious pressure. Total export of PET bottle chip and PET fiber chip reduced by 29kt month on month in Jun and slipped by 103kt on annual basis.   

Exports of PFY also reduced by 24kt on the month in Jun. Exports of PFY to India decreased by 30kt in Jun over May, apparently dragging down the export in Jun.

PFY exports surged in the first half of 2023 affected by the BIS certification of India but it fell greatly on the month in Jun. However, the BIS certification of polyester FDY, POY and PSY in India has been postponed to October 5, 2023, theoretically favoring PFY exports. Export orders of PFY to India have apparently warmed up recently according to the survey made by CCFGroup, while the final export volume depends on the local demand in India.