Since July, the nylon filament market in Shengze and Jiaxing has entered a classic stalemate: prices are stable, but transaction volumes are low. Although upstream raw materials like caprolactam have rebounded, downstream weaving mills show little appetite for restocking, with spot transactions limited to urgent small orders. This dynamic—upstream costs rising, downstream prices frozen, and traders' margins squeezed—is testing the resilience of the entire supply chain.
Price Divergence: Fine Deniers Command Premiums, Coarse Deniers Face Cutthroat Competition
According to the latest price list, the divergence within nylon filament is stark. Fine denier specifications like 17D/1F semi-dull monofilament are quoted at RMB 18,100 per ton, while coarse denier items like 110D/24F semi-dull multifilament are at only RMB 10,800 per ton—a spread of nearly RMB 7,000. This extreme gap reflects structural differences in supply and demand. Fine deniers are used in high-end garment linings and ultra-thin fabrics, with high technical barriers and relatively rigid supply. Coarse deniers, used in luggage and tents, face ample capacity and competition from polyester and polypropylene alternatives.
Another notable signal: the price spread between full-dull and semi-dull series is narrowing. For the 40D/12F specification, full-dull is quoted at RMB 15,800 per ton, while semi-dull is at RMB 14,900—a gap of only RMB 900, below the historical average. This suggests that the market's enthusiasm for matte-finish fabrics is cooling, possibly due to seasonal shifts in summer apparel demand.
Regional Capacity: Origin Labels Reveal Cost Gradients
The price list includes multiple origin markers—'Hai'an,' 'Changsha, Hunan,' 'Fujian,' 'Zhejiang,' 'Shandong,' and 'Taiwan'—clearly mapping the industry's capacity distribution and cost gradients. Hai'an's 40D/12F nylon-6 FDY is priced at RMB 14,900 per ton, while Fujian's 28D/10F is at RMB 15,900, a gap of RMB 1,000. Fujian, a major private-sector nylon hub, naturally commands a premium due to higher electricity and labor costs.
Taiwan-made 160D nylon-6 ATY full-dull is quoted at RMB 15,400 per ton, only RMB 100 more than the Shandong-made equivalent. This indicates that in conventional ATY varieties, Taiwanese technology and cost advantages have been largely matched by mainland producers. For foreign buyers, this means the premium for 'Made in Taiwan' is shrinking, and cost-effectiveness will be re-evaluated.
Demand Side: Terminal Orders Weak, Destocking Becomes Theme
The core contradiction in the current nylon filament market is that the raw material rebound is cost-push, not demand-pull. Downstream weaving mills widely report that terminal orders are falling short of expectations, especially in the export sector. Fast-fashion brands in Europe and the U.S. are still destocking slowly, slowing their purchases of nylon fabrics. The weaving operation rate in Shengze has dropped from 78% in early June to around 72%, with some small mills even suspending production.
In terms of inventory, major nylon filament traders in Shengze and Jiaxing are holding 25-30 days of stock, well above the normal 15-20 days. Under pressure to free up cash, some traders have started offering hidden discounts, especially on mainstream items like 110D and 140D, where actual transaction prices are RMB 200-300 lower than listed quotes. This 'officially stable, actually declining' pattern suggests that a full-scale price adjustment is only a matter of time.
Outlook: First Wave of Adjustments Likely in Mid-July
Balancing upstream cost support and downstream demand weakness, a moderate price adjustment for nylon filament is highly probable by mid-July. The adjustment is expected to be in the range of RMB 300-500 per ton, with fine deniers seeing limited cuts and coarse deniers potentially falling more. For buyers, now is not the time to build inventory; instead, stick to just-in-time purchasing and wait for the adjustment window to become clear.