In the two major textile clusters of Shengze and Jiaxing, the recent nylon filament market shows a pattern of 'upstream rising, downstream diverging.' On the raw material side, caprolactam market prices have reached the range of RMB 10,950-11,000 per ton, with nylon 6 chips following suit to RMB 11,400-11,500 per ton, both posting slight increases week-on-week. However, this cost pass-through has not triggered a uniform response in the weaving sector, with significant differences in price and volume performance across specifications.
Specification Divergence: Fine Denier Hot, Coarse Denier Cold, Matte Has Bright Spots
In the fine denier segment, 15D/34F nylon DTY continues to sell well, supported mainly by orders for lightweight nylon-spun and sportswear fabrics. Meanwhile, transaction volumes for 30D/1F bright trilobal profiled yarn remain weak, signaling that demand for imitation silk products has not yet entered peak season. 160D nylon air-textured yarn maintains decent sales, primarily used in outdoor gear and luggage fabrics.
70D/24F nylon 6-FDY regular yarn has recently performed tepidly, with prices stable around RMB 13,800 per ton, mainly due to sluggish orders for nylon-polyester blended fabrics, with downstream buying limited to essential restocking. Notably, 40D/24F full matte FDY has emerged as a bright spot, with demand rising cyclically, directly corresponding to the recovery of orders for water-jet woven matte high-density nylon-spun fabrics. In contrast, 70D/24F full matte FDY performs generally, priced at RMB 15,300-15,500 per ton, primarily impacted by substitution from polyester FDY full matte products, which offer cost advantages in conventional fabrics like polyester taffeta.
Procurement of 20D/1F and 30D/1F semi-dull nylon monofilament has picked up, but prices have remained largely unchanged, indicating that downstream players are mainly making quantitative replenishments rather than panic buying. Nylon 66 DTY, due to its narrow application range, has been in a state of price without volume recently.
Total Demand Expands, but Inventory Digestion Cycle Lengthens
From an annual perspective, total demand for nylon interwoven fabrics this year has expanded compared to the same period last year. Orders for nylon interwoven fabrics are still being placed in early July, but the main action for downstream weaving mills is to digest existing inventories rather than aggressively chasing price increases. This suggests that despite the upward oscillation in upstream raw material prices, the pace of orders from end brands has not accelerated significantly, and the weaving sector remains cautious about high inventories.
This pattern of 'orders exist, inventories high, procurement slow' implies a time lag in the transmission of raw material price increases to greige fabric prices. If upstream prices continue to rise without a synchronized increase in end orders, the profit margins of weaving enterprises will be further compressed.
Outlook: Short-Term Adjustment Pressure Remains
Overall, upstream caprolactam and chip prices still have short-term support, but further upside is constrained by downstream acceptance. Given that weaving sector stockpiling is largely complete and some specifications face competition from substitutes, it is expected that overall nylon filament prices will undergo moderate adjustments next week, with divergence across specifications persisting.