A sales ratio of 28.6% would normally signal deep caution at this point in the calendar. On September 10, the average sales ratio of sampled polyester filament enterprises slipped another 1.2 percentage points day-on-day. Downstream resistance to current feedstock prices is not emotional—it is a rational response forced by thin order margins. More importantly, the deceleration at weaving mills is not an isolated event; it resonates with the decline in sales ratios.
The Real Temperature Behind Sales Data
Looking at the daily sales distribution disclosed by sampled enterprises, more than 60% fell into the 10% to 30% range, with only a handful touching the 50% ceiling. This dispersed structure—mostly sluggish, a few spiking—indicates the market is not frozen across the board but increasingly polarized. Enterprises with differentiated product support can still move goods, while conventional varieties face clear pressure.
The core contradiction behind consecutive sales ratio declines lies in blocked price transmission. Polyester filament quotes remain elevated, but downstream fabric orders cannot follow with price increases. Weaving enterprises are squeezed in the middle, with per-meter fabric profit compressed to a critical point. When high-priced feedstock cannot translate into finished product premiums, reducing purchases and destocking becomes the most direct defensive move.
For buyers, this means a short-term bargaining window is opening. But note: a low sales ratio does not equal immediate price loosening, because polyester plants' inventory buffers and production cut adjustment capabilities are also at play.
Weaving Deceleration Is Not Just Off-Season
Public industry data shows that the decline in loom utilization rates and its duration both exceed seasonal norms. In past off-seasons, production cuts were typically an order rhythm issue. This round of deceleration overlays three pressures: high feedstock costs, weak terminal demand, and shortened foreign trade order cycles.
From the perspective of regional industrial belt responses, pickup pace in major weaving clusters across Jiangsu and Zhejiang has clearly slowed. Some factories have shifted from two-shift to single-shift operations. This is not simply "doing a bit less"—enterprises are reassessing order-taking risk. Orders locked in with high-priced feedstock face extremely high loss probability if currency fluctuations or customer price pressure hit.
The upstream-downstream transmission chain is also changing. In the past, rising feedstock prices pushed fabric prices up. Now, the fabric end refuses to follow, which in turn suppresses feedstock purchase volumes, forming a negative feedback loop. This reversal in transmission direction is a key indicator for judging the depth of this adjustment.
Practical Advice for Buyers and Factories
For Buyers - Build positions in batches; avoid locking in high-priced feedstock all at once; use the low sales ratio period to negotiate tiered pricing - Monitor supply stability for differentiated varieties; conventional varieties can have procurement pace moderately deferred - Clarify delivery cycles and price adjustment clauses with suppliers to reduce performance risks from feedstock volatility
For Factories - Prioritize orders with profit support; remain cautious on large low-margin orders; avoid using high-priced feedstock for loss-making orders - Use the loom deceleration period for equipment maintenance and process optimization to build capacity flexibility for the next order recovery - Increase communication frequency with downstream customers; lock in Q4 intention orders early to reduce blind stocking
The core contradiction in the current market is not disappearing demand, but rebalancing between price and profit. A sales ratio below 30% is a warning signal, but also an adjustment window. Those who manage feedstock costs and order quality well at this stage will gain the initiative when the next cycle begins.