China's PFY export consolidates at high level in June but may fall later

According to the latest data from China customs, PFY exports were at 382.7kt in June 2025, down 2.15% on the month and up 21.66% on the year respectively. The total PFY exports in January-June amounted to 2114.4kt, up by 10.94% on annual basis. The net PFY exports were at 379kt in June, down 2.3% on the month and up 22.93% on annual basis respectively. The net PFY exports totaled 2089.9kt in January-June, a year-on-year rise of 11.79%.

In June, the PFY export volume saw a slight decrease but remained at a relatively high level. Among them, the export volumes of POY, FDY, and DTY were 72,400 tons, 54,400 tons, and 199,700 tons respectively. In June, only POY saw an increase, rising by 1,800 tons. Although FDY and DTY maintained high year-on-year growth, their export volumes in June both dropped slightly, decreasing by 2,000 tons and 3,000 tons respectively. From January to June 2025, the cumulative export of POY was 352,400 tons, with a cumulative year-on-year decrease of 0.28%. The cumulative exports of FDY and DTY from January to June were 319,000 tons and 1,093,900 tons respectively, up 12.73% and 20.26% year on year respectively. The category with the largest year-on-year increase was other PFY, with cumulative exports of 19,700 tons from January to June, a year-on-year growth of 61.74%.

As for the major export destinations, in June, there was a divergence in month-on-month export performance, while year-on-year growth was mostly significant. Countries with relatively large month-on-month export growth included Egypt (25.34%), Pakistan (23.69%), and Turkey (19.79%); those with substantial year-on-year growth were India (107.47%), Brazil (56.34%), and Egypt (42.41%). Only exports to Bangladesh and South Korea declined both year-on-year and month-on-month, with year-on-year decreases of 2.10% and 0.94% respectively. From January to June, in terms of year-on-year growth, India and Indonesia still saw relatively large increases, at 81.35% and 30.77% respectively.

June was in the tariff buffer period, and both China and Southeast Asia faced the issue of rushing exports to the United States. As a result, China's PFY exports remained at a high level, increasing by 21.68% compared with last year. The consumption of raw materials due to export rushes in Southeast Asia also led to a relatively high proportion of POY exports in the total PFY exports in the past two months. July is the off-season for exports. Coupled with the expiration of the three-month tariff buffer period for the United States on countries other than China in July and the advance release of some orders, the export of PFY is expected to face a significant decline in the later period.