Truist Reports on Ceramic and Vinyl Imports

Charlotte, NC, June 15, 2023-Truist has issued the following report on ceramic and vinyl imports, 

“Ceramic Imports Showed a Decline with More Slowing from Mexico. Overall ceramic unit imports decreased 9.2% year over year, versus a sharper decline last month, for units down 5.7% year-to-date. Mexico slowed further, down 1.9% year over year increase, compared to 30%+ year over year growth in both January and February.

“Vinyl Flooring Sees Increase In Imports; Likely US Customs Release of Product Detained Under UFLPA Documentation Request. Imports saw a notable increase in units in April, up 28.9% year over year, compared to a 48.1% year over year decline in the prior month. Units from China, the largest source of material, was up 58.2% year over year, following a sharp decline last month, while South Korea declined 11.3% year over year. We believe this growth from China reflects a release of some product that US Customs detained under the Uyghur Forced Labor Prevention Act (UFLPA), which last month had been detained, requiring further documentation.”