Sep 06, 2023
In Jun, with the approaching of BIS certification implementation, Indian market was quiet. Although there has been rumors on the delay of certification implementation, most market players were cautious when there was no confirmed notice from official. The export delivery and placement of orders both apparently decreased. According to the data from China customs, exports of PFY amounted to 339.2kt in Jun, 2023, down by 6.2% on the month, and most reduction was from Indian market.
On Jul 17, Indian government announced that the BIS certification of polyester FDY (IS 17261:2019), POY (IS 17262:2019) and PSY (IS 17265:2019) in India has been postponed to October 5, 2023. After this news landed, quiet Indian market became lively again. Inquiries from Indian players emerged intensively and export orders of PFY to India could be described as very hot. It was even heard that more than 3000 containers of PFY orders were placed last week from Indian buyers, with volume above 70kt, while it was not been confirmed temporarily.