Dyestuffs gain momentum on shrinking demand for raw materials

Recent August China's textile exports amounted to $14.72 billion, up 47% year-on-year; clothing exports amounted to $16.21 billion, up 3.2% year-on-year, to achieve the first monthly positive growth during the year, triggering widespread concern. The textile and apparel industry "turnaround" is mainly because of the foreign trade season superimposed on overseas orders from India and other countries shifted sharply to China's domestic production.

On the upstream side, in early September, there was widespread news of rising dyestuff prices in the market, with disperse dyestuff prices being raised across the board. For example, in the case of disperse black ECT300% dye, the ex-factory price of the product has risen from 28 yuan/kg previously to 32 yuan/kg recently, up 14%. In the past two months, the price of the product has been increased by 36%. Tight supply is the main reason for the price increase of dyestuff.