On September 7, 2026, the domestic polyester DTY (150D/48F semi-dull textured) market sent a telling signal: Tongkun Group quoted 9760 CNY/ton while Rongsheng Petrochemical quoted 10350 CNY/ton for the same specification and grade, a price spread of 590 CNY/ton. In today's highly integrated polyester industry, such divergence is unusual and hints at far more than a simple pricing difference between two companies.
Behind the Spread: Cost and Strategy Divergence
The direct raw material for DTY is POY, which in turn relies on PTA and MEG. Both Tongkun and Rongsheng are giants in the polyester value chain, but their integration levels differ—Tongkun concentrates on polyester filament capacity, while Rongsheng leverages its refining-petrochemical integration for stronger upstream PX-PTA influence. Theoretically, Rongsheng should enjoy a cost advantage, yet its DTY quote is 590 CNY/ton higher. This suggests that DTY pricing is no longer purely cost-driven but is heavily influenced by inventory levels and sales strategies.
Industry data indicates that polyester operating rates remained above 80% in Q3 2026, but downstream weaving mills adopted a cautious, hand-to-mouth procurement approach. In this context, Tongkun's lower quote likely aims to accelerate inventory turnover and secure orders, while Rongsheng's higher price may reflect brand premium maintenance or deliberate order intake control. This divergence means actual transaction prices for the same DTY spec have become two-tiered, and buyers focusing only on industry averages may miss optimal cost windows.
Region and Brand: New Variables in Procurement
The delivery location on the quotes is also telling. Tongkun lists Zhejiang Province, while Rongsheng lists Zhejiang/Hangzhou—geographic proximity rules out logistics cost differences, confirming that the 590 CNY/ton gap stems from individual corporate strategies rather than regional supply-demand dynamics.
For downstream weaving mills, this sends a clear message: in raw material procurement, supplier brand positioning, inventory pressure, and cash flow needs directly influence quotes. Decisions must shift from monitoring the industry average to tracking individual suppliers. With continued polyester filament capacity expansion and intensifying homogenized competition, price divergence among leading producers may become the new normal.
Supply Chain Transmission: From DTY to Fabric Orders
DTY price movements do not stop at the raw material stage. The 150D/48F spec is widely used in woven fabrics, oxford cloth, and luggage base fabrics; its price changes directly affect greige cloth costs and fabric quotes. The current divergence means downstream fabric suppliers face greater cost uncertainty when accepting orders—if they calculate costs based on Tongkun's low price but cannot secure stable supply from high-price suppliers like Rongsheng, profit margins may shrink.
More importantly, this spread could trigger a chain reaction: some weaving mills will increase purchases from low-price suppliers, depleting their inventory and prompting subsequent price hikes; meanwhile, high-price suppliers may eventually cut prices if orders remain weak. Thus, the short-term widening spread may signal a medium-term adjustment in DTY price benchmarks. Foreign trade companies should incorporate price flexibility clauses in long-term contracts.