On July 3, the polyester filament market saw sluggish trading, with the average sales rate of sample enterprises at only 33.0%, up 1.3 percentage points from the previous trading day. Behind this data lies a significant divergence in manufacturer sentiment: some enterprises have chosen to lower prices to stimulate sales, but downstream users only maintain demand-driven replenishment, making it difficult to increase overall transaction volume.
Industry Signals Behind Sales Data
The sales rates of 24 sample enterprises on that day were highly uneven, ranging from 0% to 200%. Most enterprises had sales rates concentrated between 15% and 40%, with only one company reaching an outlier of 200%, and the rest generally below 50%. This data indicates that the overall demand for polyester filament is weak, with only a few companies receiving phased orders due to price adjustments or customer relationships.
The prolonged low sales rate means that inventory pressure is accumulating at upstream polyester plants. If this trend continues, it is not ruled out that more companies will join the price reduction camp within the next two weeks. For downstream weaving enterprises, the current price environment may represent a phased procurement window, but caution is needed regarding the risk of further price declines.
Price Transmission Logic in the Industrial Chain
The transmission chain of the chemical fiber industry is clear: crude oil price fluctuations → PTA/ethylene glycol costs → polyester chips → polyester filament → grey fabric. Recently, the situation in the Middle East has been volatile, crude oil lacks upward momentum, but the cost side has not shown significant easing. Polyester chip prices remain high, squeezing the profit margins of polyester filament companies.
Against this backdrop, companies have limited room for price cuts, but low sales rates force them to offer concessions. This dilemma is the epitome of the current price tug-of-war between upstream and downstream textile sectors. For buyers, it is necessary to closely monitor cost-side changes: if crude oil prices fall, polyester filament may experience a round of compensatory declines; if costs remain strong, current prices may have already reached a phased bottom.
Responses from Regional Industrial Clusters
In major polyester filament production areas such as Xiaoshan, Shaoxing, and Tongxiang in Zhejiang Province, operating rates remain generally stable, but there are rumors of capacity reduction in some areas. In downstream weaving clusters like Shengze and Keqiao, operating rates hover around 70%, but new orders are insufficient, and corporate purchasing willingness is low.
This situation of 'upstream price support, downstream wait-and-see' is difficult to break in the short term. Foreign trade enterprises should note that overseas market demand is also weak, with some Southeast Asian textile mills having started to reduce production. If domestic chemical fiber prices continue to face pressure, it may further compress export profits.