Mainland China's PTA export performance is flat, what about overseas demand?


China's mainland 2024 PTA exports in January 349,700 tons, an increase of 75.6% year-on-year. 221,100 tons of exports in February, down 28.4% year-on-year, last year's average monthly exports in the vicinity of 290,000 tons, there is no significant increase for the time being. Mainly exported to Turkey, Vietnam, Oman, Egypt and other countries, India because of the impact of the BIS, currently through the way of feed imports from mainland China every month to maintain the amount of 1 ~ 20,000 tons near.

China Taiwan, January-February PTA exports were 85,000 tons, 77,000 tons, higher than last year's monthly average of 60,700 tons, an increase of 126% year-on-year, 12.6%, mainly to India to enhance the export volume is more obvious, 57,000 tons in January, 52,000 tons in February. The region's PTA exports to a relatively single place, mainly concentrated in India and Vietnam.

South Korea in January-February PTA exports were 203,000 tons, 233,000 tons, the same higher than last year's monthly average of 174,000 tons, an increase of 26%, 32%. South Korea's PTA exporters are concentrated in Europe, including more Turkey, 97,000 tons in January, 145,000 tons in February.

And from the countries (regions) exported to Turkey, India, Vietnam's PTA volume, the polyester demand in these countries can still be stable, maintained at the normal level, individual may be slightly higher (may also have the impact of the pace of customs clearance), indicating that the local polyester start is still maintained at a higher level.

With China's integration enhancement, China's polyester products export advantage increased, exports, however, at the same time, South Korea and Taiwan polyester start fell to a lower level, so Taiwan and South Korea, although there is no PTA capacity additions, but because of the reduction of self-use, leading to expand the export volume of PTA as much as possible. Although the integration of the same enhance the competitiveness of PTA products, but due to tariffs and policies, such as the European Union on South Korea's PTA tariff-free; Taiwan part of the PTA has the Indian BIS certification, for Turkey, India, China's PTA's advantage is not obvious, but in comparison, from the second half of last year, China's mainland to Vietnam's volume of the volume of the enhancement, but the volume can not yet fully make up for the volume of going to India's volume, therefore, the current incremental exports of mainland China's PTA is still a certain resistance.

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