China's import of yarn decreased significantly in August 2024
Imports decreased significantly in August
In August, yarn imports totaled US$380 million, a year-on-year decrease of 40.5%. Imports from all major sources declined, with significant drops from Vietnam, India, Pakistan, and Uzbekistan, by 26.7%, 82.1%, 73.7%, and 43.5% respectively. This is mainly due to a sharp decrease in cotton yarn imports, which fell by 49.3% year-on-year.
From January to August 2024, yarn imports totaled US$3.55 billion, a year-on-year decrease of 4.6%, with an import volume of 1.26 million tons, representing a 1% year-on-year increase.
By product category From January to August 2024, imports of cotton yarn reached US$2.44 billion, down 9.1% year-on-year, with an import volume of 1.009 million tons, a decrease of 1.5% year-on-year; chemical fiber imports amounted to US$960 million, up 7.3% year-on-year; imports of silk and wool, animal yarns totaled US$1.788 million and US$90 million respectively, up 14.9% and 13.8% year-on-year. Cotton yarn accounts for the majority of China's yarn imports, representing 70% of the total.
By import source The top five sources of imported cotton yarn are all from Asian countries, accounting for 90% of the total. From January to August 2024, imports from the top five sources increased except for India and Pakistan. Cotton yarn imports from Vietnam reached 507,000 tons, a year-on-year increase of 3.4%, accounting for 50.2% of total cotton yarn imports, with a total import value of US$1.26 billion, down 3.2% year-on-year, accounting for 51.9% of the total imports. Imports from Uzbekistan and Malaysia increased by 59.1% and 15% respectively, while imports from Pakistan and India decreased by 24.3% and 45.2% respectively.
Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.
Tongzhou Cotton Market Brief, Week 1 of March 2025
1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.
In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.
On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.
Henan Tongzhou Cotton Industry Co., Ltd.
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Henan Tongzhou Cotton Industry Co., Ltd.
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Email：tongzhou@tongzhoucotton.com
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