28.6% — that figure means fewer than 29 tons out of every 100 tons produced by sampled polyester filament makers found a buyer on September 10. A further 1.2 percentage point drop from the previous trading day suggests downstream resistance is not a fleeting mood but a rational response to shrinking weaving orders. When the sales ratio lingers below 30%, inventory inflection at polyester plants typically arrives earlier than any price inflection — and that is the real warning signal for the chain.
Breaking Down the Sales Data: Structural Divergence Beneath the Chill
According to China Customs data and publicly available industry figures, the average sales ratio of sampled polyester filament producers stood at 28.6% on September 10, down 1.2 percentage points from the prior trading day. More telling is the dispersion across companies: daily readings ranged from 10% to 50%, with several firms stuck at 10%–20% while a handful still reached 40%–50%.
This divergence indicates the market is not uniformly frozen. Orders are concentrating among mills with cost advantages or differentiated product capabilities. For buyers, this means the bargaining window is opening, but the margin for error in supplier selection is narrowing.
The immediate trigger for the decline is downstream resistance to high prices. With feedstock prices at elevated levels, weaving mills prefer to draw down existing inventories and postpone restocking rather than chase prices higher. Thin inquiries and lackluster sales are essentially downstream players trading patience for negotiating leverage.
Industrial Belt Reaction: Weaving Slowdown Transmits Upstream
Why have looms slowed down? Across major textile hubs such as Keqiao, Shengze, and Nantong, a consensus is forming: the rhythm of end-user orders is shifting, and weaving mills are unwilling to take on low-margin orders at high feedstock costs. The marginal decline in weaving utilization is now transmitting upstream to polyester plants.
For polyester producers, a sales ratio below 30% brings twin pressures. First, inventories accumulate passively, tying up working capital. Second, cutting prices to move volume would further compress margins. This dilemma typically pushes plants to offer concessions on settlement terms and payment periods in exchange for shipment volume.
The bargaining focus across the chain is shifting from "will prices rise" to "who carries the inventory." Weaving mills are pushing inventory pressure back upstream by reducing purchase frequency, while polyester plants try to hold prices to protect margins. This tug-of-war is unlikely to break in the short term, and the sales ratio will probably fluctuate at low levels.
Implications for Buyers and Exporters
For buyers, the core variable in today's market is not the absolute price but suppliers' willingness to ship. Plants with persistently weak sales ratios tend to offer noticeably more flexibility on bulk orders and payment terms — a window to lock in costs.
For exporters, the risk to watch is delivery timing rather than price. A weaving slowdown may extend production cycles for certain categories, especially orders requiring specific filament specifications. Confirming suppliers' raw material inventories and production schedules in advance is more effective than单纯 pressing for lower prices.
Over a longer horizon, a sales ratio persistently below 30% is often a prelude to proactive destocking across the chain. Once weaving orders recover, upstream restocking demand could release in a concentrated burst, rapidly amplifying price elasticity. Procurement pacing needs to leave room for such a reversal.