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Insight | Time: May 26 2020 3:34PM
Impact of India's anti-dumping investigation on China polyester single yarn market
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According to Ministry of Commerce, the Ministry of Commerce and Industry of India announced that it will initiate an anti-dumping investigation on polyester yarn (polyester spun yarn) originating in China, Indonesia, Nepal and Vietnam on May 21, 2020. The products mainly involves the products under Indian customs code 55092100. According to the announcement, stakeholders should submit relevant information to the investigating authority within 30 days from the date of filing.

So what’s the impact of the anti-dumping investigation on China polyester single yarn market?

Looking from polyester single yarn imports of India, it totaled 64kt in 2019 with 46% from Indonesia and 30% from China. However, the imports from the countries involved in the investigation-China, Indonesia, Vietnam and Nepal- accounted for 99% of total polyester single yarn imports of India, which nearly covered all polyester single yarn imports.

During the pandemic, demand for polyester single yarn was bearish both in India local market and overseas, and Indian spinners suffered much. The anti-dumping investigation at this time is to protect and support Indian local spinners to a certain extent. In the meantime, import pattern may be changed to promote Indian local spinners to occupy the market.

Polyester single yarn exports of China amounted to 218kt in 2019 and among the total, about 21kt was exported to India. Comparatively, India’s anti-dumping investigation will impact the polyester single yarn exports of China as the export orders were already sporadic and the investigation will bring more problems, but due to limited shares, the impacts will not be as large as imagined.

In recent years, polyester single yarn exports of China to India declined year by year. In 2020, the export orders nearly stagnated, so the anti-dumping investigation will inevitably intensify the downtrend. As economic activities recover gradually across the world, some spinners in China reported to take export orders. Based on the favorable factors, the export orders are expected to restore. Many spinners may prefer to export to other countries instead of India.

As a whole, the anti-dumping investigation may have large impact on India local import market, and later, China’s exports of polyester single yarn to India is expected to reduce.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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