Nylon POY Price Breaches 14,000 Yuan Mark, Intensifying Inventory Pressure and Downstream Demand Game

Nylon POY prices fell below the 14,000 yuan per ton mark at the end of June 2026, with industry data showing a benchmark price of 13,650 yuan per ton, down 5.86% from the beginning of the month. This decline is not an isolated event. Over the past year, nylon POY prices have fluctuated from a low of 11,300 yuan per ton to a high of 16,950 yuan per ton, and have been in a continuous correction for more than two months. The current price sits at the mid-range of the annual cycle, still 3,300 yuan below the peak and with 2,350 yuan of upside potential from the bottom.

Supply-Demand Logic Behind the Price Movement

As a midstream product in the chemical fiber chain, nylon POY prices are directly influenced by upstream caprolactam costs and downstream weaving operating rates. Industry data indicates that the average price over the past year was 12,782.17 yuan per ton, meaning the current price is about 6.8% above the average, suggesting the market has not yet entered a trough. However, the fact that daily price changes have been zero for consecutive days signals a standoff between buyers and sellers around the 13,650 yuan level.

The price spread over the year reached 5,650 yuan per ton, a relatively high volatility among chemical fiber categories. For weaving companies, this means the timing of procurement directly determines cost advantage. The current price is on the lower side of the mid-range, but with 2,350 yuan of potential downside to the bottom, buyers should avoid chasing the market downward blindly.

Industrial Cluster Response and Inventory Transmission

Major consumption areas for nylon POY include the warp knitting and water-jet weaving clusters in Changle (Fujian), Yiwu (Zhejiang), and Wujiang (Jiangsu). These clusters are currently facing slower-than-expected recovery in downstream garment orders, with operating rates generally at 60-70% and cautious willingness to stock raw materials. Industry inventory data shows that nylon POY inventory days at chemical fiber factories have risen from 12 days at the end of May to 15 days at the end of June, with inventory pressure gradually transmitting to the midstream.

On the upstream side, caprolactam prices also weakened in June, reducing cost support. Notably, the decline in nylon POY (5.86%) has outpaced that of caprolactam (about 4.2%), indicating that terminal demand is exerting stronger downward pressure. This suggests that even if raw material prices stabilize, nylon POY prices are unlikely to rebound quickly.

Strategic Implications for Buyers and Mills

The current price environment demands different responses from two types of market participants. Buyers need to distinguish between essential restocking and speculative purchasing, while mills face the dilemma of cutting production to support prices versus maintaining market share.

For Buyers - Adopt a strategy of small, weekly replenishment to avoid being locked into high prices with large single purchases. The current price is at a mid-range, but the downtrend has yet to confirm a bottom; batch buying can reduce average cost risk. - Monitor operating rate changes during the traditional off-season in July-August. If weaving companies further reduce production, nylon POY prices could test the 13,000 yuan per ton level, presenting a better buying opportunity. - Negotiate floating-price long-term contracts with suppliers to transfer some price risk upstream while securing stable supply channels.

For Chemical Fiber Mills - Control operating rates to below 80% to avoid forced price cuts due to inventory buildup. The current 15-day inventory level is not yet alarming, but if it rises above 20 days, it could trigger more aggressive price reductions. - Prioritize fulfilling large customer orders and reduce low-price sales in the spot market. At the current mid-range price, large-order margins are still acceptable, while the spot market faces stronger bargaining pressure. - Watch for caprolactam maintenance schedules. If upstream units undergo concentrated maintenance in July, raw material prices may stabilize or even edge up, providing an opportunity to stabilize nylon POY prices and prevent a one-sided bearish sentiment from spreading.