Polyester POY Quotes Edge Down: 150D Spec Under Pressure, Regional Spread Widens

The polyester POY market saw a slight downward adjustment at the start of this week, with the 150D/48F semi-dull specification becoming the focus of price changes. According to publicly available industry data on July 3, mainstream ex-factory prices in Zhejiang ranged from 8,050 to 8,200 RMB/ton, down by about 50-80 RMB/ton from the previous week. Although the magnitude is limited, it signals short-term pressure in the upstream section of the supply chain.

Quote Divergence: Shaoxing-Hangzhou Spread Widens Looking at regional quotes, Juxing Chemical in Shaoxing offered 8,050 RMB/ton, while Rongsheng Petrochemical in Hangzhou quoted 8,200 RMB/ton, creating a spread of 150 RMB/ton. This spread is relatively high compared to the past two months, suggesting differences in inventory strategies and order structures between the two regions. Shaoxing, as a weaving cluster, has downstream operating rates hovering around 70%, making buyers cautious about raw material purchases. Hangzhou, home to large polyester plants, offers more stable supply, supporting firmer quotes.

Cost Transmission: PTA and MEG Range-Bound Cost support for polyester POY comes mainly from PTA and MEG. Since late June, spot PTA prices have traded narrowly between 5,800 and 5,900 RMB/ton, while MEG has stayed around 4,500 RMB/ton. The lack of clear directional movement in feedstock has led polyester plants to adopt a conservative pricing approach. Meanwhile, crude oil prices fluctuating between 70 and 75 USD/barrel have weakened the cost drive for the polyester chain. Against this backdrop, the POY quote decline reflects supply-demand fundamentals rather than a cost collapse.

Supply-Demand Dynamics: Weaving Sector's Hand-to-Mouth Buying Caps Price Upside On the demand side, the comprehensive operating rate of weaving mills in Jiangsu and Zhejiang fell to around 73% at end-June, down about 5 percentage points from the May peak. Terminal garment orders have entered a traditional low season, with grey fabric inventories accumulating. Weaving mills are purchasing raw materials on a hand-to-mouth basis, with little willingness to stock up. This directly limits the upside for POY prices. On the supply side, polyester plant operating rates remain above 88%, with stable POY output and mid-to-high social inventory levels. Under a loose supply-demand balance, mills have to offer small price discounts to move goods.

Foreign Trade Perspective: Southeast Asian Diversification Pressure Persists Notably, China's polyester filament yarn export volume growth narrowed to less than 3% year-on-year in the first half of 2026, as polyester capacity in Vietnam, Indonesia, and other countries continues to ramp up. Some overseas buyers are shifting inquiries to Southeast Asia, indirectly suppressing domestic POY prices. For foreign trade enterprises, both domestic and export markets face shrinking bargaining room, requiring closer attention to exchange rate fluctuations and shipping schedules.

Operational Recommendations ### For Buyers - Current prices are at a moderately low level for the year. If inventory turnover is within 15 days, consider locking in 1-2 weeks of supply in batches to avoid price rebound risk. - Monitor the Shaoxing-Hangzhou spread. If it exceeds 200 RMB/ton, prioritize Shaoxing sources to lower costs. - Negotiate short payment terms or cash discounts with suppliers, as the current buyer's market offers relatively greater room for bargaining.

For Foreign Trade Firms - When quoting Southeast Asian clients, reference domestic POY prices minus freight and tariffs to avoid order profit compression from domestic price declines. - Monitor RMB exchange rate fluctuations. If the rate oscillates in the 7.2-7.3 range, consider using forward forex contracts to lock in profits. - Use the current low domestic price window to boost export promotion of POY or downstream grey fabrics, especially targeting Middle Eastern and African markets.