Business

India Overtakes Brazil As The Largest Buyer Of China’s Rayon In H1

China’s total exports of rayon yarn at 123.324 kt in the first half of 2022, was up 50.88%, yoy, including 86.956kt of single yarn and 13.105kt of ply yarn, respectively up 54.57% and 59.53% on yearly basis. Thus, the export of pure spun yarn occupies 81% of total rayon yarn exports. At the same time, the export of rayon blended yarn amounts to 41.57kt, up 140.78% y-o-y. After 2020, the export growth in the first half of the year has been rising rapidly. The percentage of single yarn has been expanding to around 71%, while that of ply yarn is gradually squeezed. Rayon single yarn exported to five destinations (Brazil, Bangladesh, Pakistan, India and Vietnam) in the first half of 2022 amounts to 78.878kt, up 55% y-o-y, accounting for 91% of total single yarn exports, which was 68% in 2021 and the increment is mainly contributed by India. Therefore, the export dependency of China's rayon single yarn is still high. Rayon single yarn exported from Jiangsu, Zhejiang, Fujian, Xinjiang and Sichuan totals 84.433kt in the first half of 2022, rising 56.24% y-o-y. The percentage of major origins changes little, except for fast growth of Zhejiang. As for destinations of rayon yarn export, the percentage of major nations has been rising and it is noteworthy that India has replaced Brazil to become the largest destination, while no big changes have occurred in the origins.