China's cotton yarn imports dropped significantly in September 2024
In September alone, I imported US$380 million worth of yarn, a year-on-year decrease of 38.9%. Imports from all major sources decreased, with significant drops from Vietnam, India, Pakistan, and Uzbekistan, by 30.3%, 86.2%, 69.1%, and 49.6% respectively. This is mainly due to a significant decrease in cotton yarn imports, which fell by 47.7% year-on-year.
From a product category perspective, from January to September 2024, imports of cotton yarn totaled US$2.69 billion, down 15% year-on-year, with an import volume of 1.12 million tons, down 7.3% year-on-year; chemical fiber imports reached US$1.08 billion, up 4.8% year-on-year; imports of silk and wool/animal yarns were US$2.152 million and US$100 million respectively, up 31% and 12.9% year-on-year. Cotton yarn accounts for 70% of China's total yarn imports.
From the perspective of import sources, the top five sources of imported cotton yarn are all from Asia, accounting for 90% of the total. From January to September 2024, imports from the top five cotton yarn sources decreased except for Uzbekistan and Malaysia. Imports from Vietnam totaled 507,000 tons, up 0.6% year-on-year, accounting for 50.9% of total cotton yarn imports, with an import value of US$1.41 billion, down 7% year-on-year, accounting for 52.3% of the total imports. Imports from Uzbekistan and Malaysia increased by 42.3% and 15.8% respectively, while imports from Pakistan and India decreased by 30.4% and 54.2% 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.
Address: 10th Floor, Henan Nongxin Building, No. 19 Commercial Outer Ring Road, Zhengdong New District,Zhengzhou, China
Tel：86037165836206
Email：tongzhou@tongzhoucotton.com
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