According to China Customs, China PSF exports were 85.2kt in Nov, 2022, an increase of 3.5% year on year and up 10.6% from Oct.
In Jan-Nov, 2022, exports totaled 908.5kt, up 8.4% year on year. With excessive supply and price advantage compared with overseas PSF, PSF plants of China are active to seek for export markets in 2022. Therefore, exports increase from 2021, basically recovering to the level before the epidemic. On the one hand, the epidemic outside China is under normalization, and operating rate of end-users recovers, having higher demand for textiles. On the other hand, the sea freight reduces, favorable for exports.
The rise in 2022 was mainly attributed to the higher exports to some major export destinations, like Russia, Mexico, India and Brazil. During Jan-Nov, 2022, the exports to Brazil amounted to 47,534 tons, up 24.7% year on year, that to Russia were 40,944 tons, up 46.8% year on year and that to Mexico totaled 25,744 tons, up 50.8% year on year.
In 2023, the supply pressure remains large in China, and PSF plants will continue to seek for exports. Moreover, prices are low currently, and with the price edge for exports, PSF exports may go up further in 2023.
Post time: Jan-05-2023