Apparel / Textiles & Accessories

At present, domestic demand is relatively stable, and external demand has become the focus of market attention. However, shipping fees have been rising all the way, container orders are still full in September, and polyester industrial yarn and its downstream exports are still expected to be blocked. Considering that the inventory pressure of factories is gradually increasing, there is no significant shrinkage on the supply side. , Under the contradiction between supply and demand, the polyester industrial yarn market may hardly see a big improvement in September.

List of export data of polyester industrial yarns in the past three years;

Source: Longzhong Information

The import dependence of polyester industrial yarns is mostly maintained in the range of 1-2%. After Hailide’s increase in Vietnam’s production capacity last year, the local epidemic affected demand less than expected. Some products were imported for domestic consumption, resulting in a significant increase in total imports compared with the same period last year. However, the low total amount has little impact on the market. And under normal domestic demand, considering that the export dependence of polyester industrial yarn accounts for about 30%, the market pays more attention to the export situation of polyester industrial yarn. As can be seen from the above figure, the total export volume of polyester industrial yarn in the first half of the year has increased compared with the same period in the previous two years. However, the total export volume in July fell short of expectations, down 3.63% from the same period in 2019.

The same and month-on-month comparisons of the top 20 export trading countries of polyester industrial yarn in July 2021 (unit: ton/year)

Source: Longzhong Information

According to statistics from the General Administration of Customs, my country’s imports of polyester industrial yarns in July 2021 were 42700 tons, and the cumulative imports were 285,400 tons. The imports were -0.65% month-on-month and +235.95% year-on-year. The cumulative imports were compared with the same period last year. +275.99%. According to statistics from the General Administration of Customs, in July 2021, my country’s export volume of polyester industrial yarn was 414,300 tons, and the cumulative export volume was 326,400 tons. The export volume was -11.44% month-on-month and +28.31% year-on-year, and the cumulative export volume was +39.68 year-on-year. %.

The data shows that in July 2021, the top 20 trading countries for polyester industrial yarn exports accounted for 80.04%, +2.59% from the previous period and +1.18% from last year. It can be seen that the total volume of the top six exporters of polyester industrial yarn is even There was a slight decrease, and the largest decrease was Turkey, which decreased by 226.6 tons month-on-month and 1218.66 tons year-on-year. Most of the last 14 countries had a small increase. In general, the total export volume of the top 20 trading countries of polyester industrial yarn was relatively It is stable, so in the short term, the export situation of polyester industrial yarn may maintain a narrow range, and the consolidation will be the main focus.

China Export Container Freight Index (CCFI):

Source: Longzhong Information

The biggest factor affecting exports this year is the shortage of containers and the increase in ocean shipping charges. The China Export Container Freight Index (CCFI) has been continuously updated to record highs during the year. It closed at 3,09.58 points as of September 3, a year-on-year increase of 43.41%, but containers in the third quarter Orders are still full, so in the short term, shortage of containers and high sea freight may not help the export of polyester industrial yarn and its downstream products to improve.

In summary, the export data performance is weak, the superimposed container freight index is still optimistic, the foreign trade situation is still blocked in September, the current demand side recovery of superimposed polyester industrial yarn has not shown any significant improvement, the raw material side remains weak and fluctuating, and the inventory pressure of enterprises is gradually increasing, but There is no obvious tightening plan on the supply side, and the contradiction between supply and demand may restrict the polyester industrial yarn market in September, or it will be difficult to see a big improvement.