Export of polyester products was a hot spot earlier. Total export of polyester rose by more than 20% in Jan-Apr, 2023, especially to India mainly due to the advanced replenishment. Exports of polyester may gradually decrease in Q2 when the overseas consumption continues reducing and exports of finished goods in Southeast Asia keep falling. According to the survey made by CCFGroup, some export-oriented polyester companies have seen declining orders since late-May.

As for domestic demand, after the concentrated release of backlog demand in Q1, the slope of sequential repair of domestic and foreign demand will become more moderate in Q2. However, as textile and clothing are seasonal consumer goods, there is still a chance for domestic demand for autumn and winter wear in the second half of the year. Demand is expected to start growing in Sep-Oct, and may even be postponed to Oct (mainly due to the significantly shortened production cycle of e-commerce clothing in recent years, and the peak season time has also been postponed). Before that, the main focus is on market replenishment, sensitive to price.