2020 was a difficult year for the entire commodity market. Faced with the spread of public health events and the impact of the crude oil black swan incident, polyester products suffered an unprecedented decline. Similarly, polyester products and the textile and apparel industry Exports also bring unprecedented challenges.
According to customs data, the total export volume of the four major polyester products from January to June 2020 was 292.8 million tons, down 22.05% from the same period last year. The main reason for the decrease in export volume is the ongoing epidemic overseas and the impact of trade frictions.
Recently, at the key node of the return of overseas epidemic recovery orders, polyester filament exports are faced with ” roadblock” pressure.
Polyester filament: a new anti-dumping investigation may be coming
According to Korean media reports, currently Korean polyester yarn manufacturers have filed anti-dumping complaints against FDY manufactured and imported from China. In addition, anti-dumping complaints against POY and DTY made in China are also being carried out at the same time, in order to eliminate the dumping and sale of Chinese products in the Korean domestic market. serious unfair behavior.
The Korean chemical fiber industry has filed anti-dumping lawsuits against POY and DTY products originating in China, Taiwan, and Malaysia, but this is the first time that anti-dumping lawsuits have been filed against FDY. It is understood that South Korea’s anti-dumping complaint against FDY has been approved, and an anti-dumping complaint against DTY may also be filed in the future. Judging from the export volume of these two products:
FDY export volume and proportion of export volume to South Korea from 2017 to 2020
Source: Customs data
Judging from the export volume of FDY, in recent years, domestic FDY (HS Code 54024700) exports The volume is increasing year by year. The export volume in 2019 has been close to 420,000 tons. As the main export region of polyester filament in China, South Korea’s export volume of FDY is also among the top. It is basically at the top of the entire export volume. At the top three levels, export volume accounts for more than 10% of total export volume all year round. In the first half of 2020, domestic polyester filament FDY export volume was around 172,300 tons, and export volume to South Korea was 25,900 tons, accounting for More than 15%.
DTY export volume and proportion of export volume to South Korea from 2017 to 2020
Source: Customs data
From the perspective of DTY export volume, the domestic export volume of DTY (HS Code 54023310/54023390) is the export volume of FDY (HS Code 54024700) has more than doubled. Since 2018, the annual export volume has exceeded the level of one million tons, and exports to South Korea account for about 6-7% of it. In the first half of this year, the proportion of DTY exports to South Korea increased slightly and was already above 8%.
At present, South Korea’s anti-dumping investigation on Chinese-produced FDY may be inevitable, and the categories of anti-dumping investigations may be further increased in the future.
The reduction in overseas demand is inevitable, and there are still export barriers in the polyester industry
From the recent market From a development perspective, both polyester products and textiles and apparel are facing certain pressures. First of all, the overseas epidemic is still in the spreading stage, the global economic growth has slowed down or even shrunk, and the reduction in overseas demand has become inevitable. In addition, the export price of polyester products with the largest export volume is at a disadvantage, and its exports are affected to a certain extent. In addition, my country’s polyester products have been troubled by anti-dumping for many years, and there are still certain export barriers in the polyester industry.
Secondly, in the field of textiles and apparel, as the turning point of the overseas epidemic has not yet arrived, the export of masks and other medical supplies will become the main export force of China’s textiles and apparel in the long term; however, Sino-U.S. trade relations It is still tense that some other textile countries will form certain competition for my country’s textiles and clothing. At the same time, Vietnam and the EU have reached a free trade agreement. The agreement will be implemented from August 1. Vietnam will form a certain degree of order competition and diversion for China’s textile and apparel exports to the EU, which will have a greater impact on China’s apparel exports. Foreign countries It will still take time for demand to increase.
China’s polyester filament products are mainly sold domestically. However, with the expansion of domestic production capacity, especially the release of new production capacity since this year, the overcapacity situation in the industry has been aggravated. Therefore, polyester factories place more hope on the growth of export market demand. Only by actively responding to changes and pressures in the international market can they go further. </p
