Divergence in Polyester DTY Prices: Capacity Game Behind Pricing Strategies of Industry Leaders

A telling signal has emerged in the polyester filament market: on September 7, quotes for the same specification of polyester DTY (150D/48F, melt-spun, AA grade, semi-dull) differed by as much as 590 RMB/ton between two industry giants. Tongkun Group quoted 9760 RMB/ton, while Rongsheng Petrochemical quoted 10350 RMB/ton. Given similar feedstock costs, such a gap exceeds normal processing fee differences, reflecting divergent assessments of the current supply-demand landscape.

Price Divergence: Mirror of Leader Strategies

Tongkun's low-price strategy appears to be a proactive inventory reduction move. With weak end-demand recovery and generally high polyester plant inventories, trading price for volume can quickly recover capital and maintain operating rates. Rongsheng's insistence on a premium price seeks to preserve its product's high-end positioning, as its DTY often serves premium applications in downstream weaving. For buyers, a 590 RMB gap means nearly 6% fluctuation in per-ton raw material costs, which can determine order profitability in a low-margin era.

This divergence is not accidental. According to industry public data, new polyester filament capacity has been released intensively since 2026, while downstream weaving operating rates remain only around 60%, widening the supply-demand gap. In this context, pricing strategies among leaders have shifted from 'follow-the-leader' to 'divergent games': companies with strong cost control tend to use price wars to squeeze out small and medium capacity, while those with better product mixes try to maintain profit margins through premiums.

Industrial Impact: From Price Signals to Supply Chain Adjustments

Price divergence will rapidly transmit along the industrial chain. For weaving mills in clusters like Shengze and Changle, short-term procurement decisions will favor low-cost sources, potentially concentrating orders toward Tongkun, but also forcing companies like Rongsheng to intensify differentiated product development. Notably, DTY, as a main raw material for apparel fabrics, often leads changes in terminal garment orders. The current widening gap hints at pessimistic expectations for the 'golden September and silver October' peak season, with downstream restocking cautious.

For the broader chemical fiber industry, this divergence may accelerate consolidation. Small and medium factories lack economies of scale and struggle to survive price wars, while companies with integrated industrial chains (from PTA to polyester filament) can hedge risks through self-supplied feedstocks. Data shows that industry concentration has been rising in recent years, with the top ten enterprises accounting for over 60% of capacity. Price divergence is a typical feature of a maturing industry.

Practical Recommendations

For Buyers - Consider phased procurement of low-cost sources, but strictly inspect batch quality, especially dyeing uniformity and strength indicators. - Establish a multi-supplier comparison mechanism, leverage leader price gaps as negotiation chips, but avoid over-reliance on single low-cost sources. - Monitor PTA and MEG price trends; if crude oil falls, DTY quotes may have further room to decline, so consider postponing large orders.

For Foreign Trade Enterprises - Include price adjustment clauses in export contracts to hedge raw material volatility, especially for long-term agreements. - Utilize the current price gap window to lock in low-cost DTY inventory for next spring orders. - Strengthen cooperation with high-end suppliers to develop differentiated products (e.g., cationic modified, flame-retardant) to avoid low-price competition.