A price gap of 150 yuan per ton is unusual in polyester POY, a highly standardized product category. On September 24, 2026, Rongsheng Petrochemical quoted 9,300 yuan/ton for 150D/48F semi-dull first-grade POY, while Zhejiang Yongsheng quoted 9,150 yuan/ton for the identical specification. The specifications are exactly the same, both origins are in Zhejiang, yet the price difference is nearly 1.6%. This figure itself carries more information than any market commentary — it shows that the POY market is moving from unified pricing toward tiered pricing.
Where Does the Price Gap Come From
Rongsheng Petrochemical is based in Hangzhou, while Yongsheng is in Shaoxing. Both belong to Zhejiang's core chemical fiber industrial belt, but their cost structures differ. Hangzhou's large-scale melt-direct spinning lines, captive power plants, and integrated PTA facilities should theoretically deliver lower unit costs. Yet Rongsheng's quote is actually higher, which indicates that the dominant factor in current POY pricing is no longer production cost, but inventory strategy and customer structure.
As an industry leader, Rongsheng's customers are mainly large weaving enterprises and long-term contract users, so its quotes emphasize stability and brand premium. Yongsheng relies more on flexible pricing to attract small and medium-sized customers, and the 9,150 yuan/ton level clearly signals a volume-driven intent. For buyers, this means that the negotiable space for the same POY specification across different suppliers is widening.
From a supply chain transmission perspective, POY is the upstream product of polyester filament, and its price divergence will be amplified downstream through texturing and weaving. Texturing plants purchase POY, process it into DTY, and supply it to fabric mills. If POY procurement costs differ by 150 yuan/ton, the processing profit margin of texturing plants will be directly compressed or released, which in turn affects the competitiveness of DTY quotes.
Weak Demand Is the Root Driver
The fundamental reason for the widening price gap is that downstream demand is insufficient to support a unified pricing alliance. Since the third quarter of 2026, the textile industry has entered the traditional "Golden September and Silver October" peak season, but terminal orders have not shown the expected concentrated surge. Weaving enterprises are maintaining moderate operating rates, and their raw material procurement strategy is mainly "small orders, multiple batches, buy as needed."
This purchasing behavior directly weakens the price-holding ability of POY suppliers. When large suppliers try to maintain quotes at 9,300 yuan/ton, small and medium-sized suppliers grab orders at 9,150 yuan/ton, and the price gap naturally forms. More notably, the semi-dull first-grade specification itself represents mainstream demand. The fact that the price gap appears in a mainstream specification indicates that market competition has entered a stage of stock-based gaming.
For upstream PTA and ethylene glycol segments, POY price divergence will in turn suppress raw material procurement willingness. If POY profits are compressed, polymerization plants may reduce operating rates, further cutting spot PTA purchases, creating a negative feedback loop from filament to raw materials.
Divergent Reactions Across Regional Industrial Belts
Shaoxing and Hangzhou industrial belts are reacting differently to the price divergence. Shaoxing is dominated by small and medium-sized texturing and weaving enterprises with high sensitivity to raw material prices. The 9,150 yuan/ton quote is more readily accepted by local customers, and Yongsheng's volume-driven strategy is highly compatible with Shaoxing's industrial ecosystem.
Hangzhou and its surrounding areas host more large weaving and trading enterprises. Although Rongsheng's 9,300 yuan/ton quote is relatively high, it still maintains customer stickiness by relying on stable quality consistency and supply capability. This "same province, different prices" pattern is essentially a reflection of customer structure differences within the industrial belt.
From a longer-term perspective, POY price divergence is not an isolated event. Since 2026, the degree of quote variation across polyester filament categories has generally increased, reflecting the industry's shift from scale expansion to efficiency competition. Enterprises with integrated cost advantages can choose to hold prices, while those relying on purchased raw materials must adjust prices flexibly.
Impact on Procurement and Production
For buyers, a 150 yuan/ton gap means monthly procurement costs can differ by tens of thousands of yuan. For a texturing plant using 500 tons of POY per month, choosing different suppliers can result in a monthly cost difference of 75,000 yuan. In the thin-margin texturing segment, this amount can determine profit or loss.
For factories, the widening price gap also creates room for formulation and process adjustments. If lower-priced POY is procured, factories can appropriately adjust texturing process parameters while ensuring finished product quality, optimizing overall costs. However, it should be noted that POY from different suppliers may differ in spinnability, breakage rate, and other indicators. A lower price does not necessarily mean a lower total cost.
For traders, the widening price gap means increased arbitrage opportunities across regions and suppliers, but it also amplifies inventory depreciation risk. In an environment of weak demand, the strategy of stockpiling in anticipation of price increases carries higher risk.