During the first three quarters of 2024, the export volume of major Chinese dyed products increased while prices fell.
According to China Customs statistics, from January to September 2024, China's eight major categories of dyed products Export volume reached 24.19 billion meters, a year-on-year increase of 2.44%, with the growth rate slowing down by 0.29 percentage points compared to the first half of the year; Export value reached US$22.721 billion, a slight year-on-year decrease of 0.01%, with the growth rate slowing down by 0.74 percentage points compared to the first half of the year; Average export unit price was US$0.94/meter, a year-on-year decrease of 2.39%, with the decrease expanding by 0.44 percentage points compared to the first half of the year. In the first three quarters, China's major dyed product exports showed a trend of increasing volume and decreasing prices. The growth rate of export volume gradually slowed down from the rapid growth at the beginning of the year to the current low growth level. The cumulative growth rate of export value continued to slow down, turning negative in September. The average export unit price hit a new low for the same period in nearly ten years, and the decline is still expanding, with the industry facing considerable competitive pressure in exports.
Weak external demand is a major reason for the pressure on industry exports. Since the beginning of this year, although the inflation rate in major developed countries has shown a downward trend, and the monetary policies of European and American countries have gradually shifted from tightening to easing, global trade remains weak, the manufacturing PMI index remains in the contraction range, and the overall recovery momentum still needs to be improved. Overall, the international market demand for China's textile and garment products shows a weak recovery trend. From January to September, China's cumulative textile and garment exports reached US$222.41 billion, a year-on-year increase of 0.5%, with the growth rate slowing down by 1.0 percentage point compared to the first half of the year. Among them, cumulative garment exports reached US$118.11 billion, down 1.6% year-on-year. At the same time, under the trend of industrial transfer, the increase in dyeing capacity in Southeast Asia and South Asia has created direct competition for China's dyed product exports, further increasing the pressure on the industry's foreign trade.
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.
Contact
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
Mobile
CopyRight © 2025 Henan Tongzhou Cotton Industry Co., Ltd.