Changxing Polyester Yarn & Fabric Market Weekly: Raw Material Prices Decline, Procurement Window May Open

The Changxing polyester filament yarn market experienced a notable price correction this week (June 25-29). According to industry open data, POY 75D/36F, 100D/36F, and 150D/48F each dropped by 200 yuan/ton, settling at 8,350, 8,200, and 8,050 yuan/ton respectively. FDY series faced similar pressure, with 50D/24F, 61D/24F, and 68D/24F also declining by 200 yuan/ton. DTY and pure polyester/cotton yarns fell by 100-200 yuan/ton, showing a relatively milder decline. This round of decline is not an isolated event but a result of both upstream cost transmission and weak downstream demand.

Dual Pressure from Cost and Demand

Looking upstream, the recent weakening of PTA and PX prices directly squeezed the profit margins of polyester filament producers. POY and FDY, being direct spinning products, are most sensitive to upstream price fluctuations, hence the largest declines. DTY, which undergoes a texturing process with relatively fixed processing fees, saw a narrower drop. For pure polyester yarn, 21s and 32s fell by 200 yuan/ton each, while 45s dropped by 100 yuan/ton, reflecting insufficient purchasing appetite from downstream weaving mills for low-to-medium count yarns. In contrast, the price of T90/C10 45s blended yarn remained unchanged from last week, suggesting that blended products have found relative support at current levels.

Grey fabric prices, meanwhile, showed notable 'price stickiness'. Conventional varieties such as spun semi-dull pongee (170T, 190T), polyester taffeta (160T-210T), satin, and satin charmeuse remained unchanged week-over-week. This does not indicate strong demand; on the contrary, market feedback points to 'low sales volume'. The reason fabric prices have not followed raw materials downward is that weaving mills have yet to consume their previously purchased high-cost raw materials, preferring to reduce output rather than cut prices. This 'raw materials down, fabric stable' pattern is unsustainable. As high-cost inventories are gradually depleted, fabric prices will likely catch down.

Signal from the Regional Industrial Belt

As an important chemical fiber and weaving cluster in Zhejiang Province, price movements in Changxing serve as a leading indicator for neighboring markets like Shengze and Shaoxing. The broad price decline in polyester filament reflects the reality of insufficient orders faced by weaving mills across the Jiangsu-Zhejiang region during the off-season (June-July). Historically, late June is a window between the end of summer orders and the start of autumn orders, and price weakness is seasonally normal. However, a weekly drop of 200 yuan/ton is slightly larger than expected, suggesting upstream inventory pressure may be higher than the same period last year.

For buyers, current raw material prices have fallen back to late-May levels. If downstream apparel brand orders gradually pick up around mid-July, current prices may represent a near-term bottom. But if demand remains sluggish, there is a possibility that polyester filament prices could continue to fall below 8,000 yuan/ton (POY 150D).

Practical Recommendations

For Buyers - Monitor price trends of mainstream specifications like POY 150D and DTY 150D. If they fall another 100 yuan/ton or more next week, consider phased stockpiling. - For grey fabrics, although prices have not yet softened, seek 'price protection' clauses from suppliers, i.e., if raw materials fall further, fabric prices should adjust accordingly. - The spread between pure polyester 21s and 32s has widened to 1,100 yuan/ton (32s at 11,500 vs 21s at 10,400). 32s offers relatively better value and can be prioritized.

For Mills - In the short term, control inventory of POY and FDY to avoid heavy stockpiling during a downward price channel. - Adopt a 'weekly pricing' model for grey fabric quotations to cope with rapid raw material changes and reduce customer price disputes. - Watch for price stabilization signals in T90/C10 45s blended yarn. If this variety rebounds first, it may indicate a recovery in blended fabric orders.