Polyester POY Price Spread Widens: Supply-Demand Dynamics Behind Quotation Divergence in Zhejiang Chemical Fiber Enterprises

On July 6, 2026, the quoted price range for polyester POY (150D/48F semi-dull) in Zhejiang widened to 7,800-8,400 yuan per ton, a spread of 600 yuan. This compares to a spread of only around 200 yuan in the same period of 2025. While some leading enterprises are selling at a low of 7,800 yuan, others still hold firm at 8,400 yuan, signaling a fundamental shift in market pricing logic.

Quotation Divergence: Dual Pressure from Costs and Inventory

According to public data, Zhejiang Juxing Chemical Fiber quoted 8,050 yuan/ton, Hangzhou Kaishi Chemical Fiber quoted 8,300 yuan/ton, Tongkun Group's Hengteng Differential Fiber quoted 8,400 yuan/ton, Jiangsu Guowang High-Tech (Shenghong Chemical Fiber) quoted 8,250 yuan/ton, Zhejiang Jiabao New Fiber quoted 8,250 yuan/ton, Rongsheng Petrochemical quoted 7,800 yuan/ton, and Zhejiang Senkai New Materials quoted 7,900 yuan/ton. Among the seven companies, Rongsheng and Senkai offered the lowest prices, while Tongkun Group held the highest, clearly reflecting different judgments on cost control and inventory management.

Rongsheng's low-price strategy is not accidental. As an integrated PTA-polyester leader, Rongsheng enjoys cost advantages in upstream PTA, and its pricing often carries an intention to actively destock. Tongkun's high quote of 8,400 yuan likely relates to its premium strategy for differential fiber products and suggests lower inventory pressure. This divergence means that simply looking at the industry average price is no longer sufficient to gauge market trends.

Downstream Transmission: Weakening Weaving Demand

Behind the quotation divergence lies a signal of weak downstream demand. In the first half of 2026, operating rates at weaving mills in Zhejiang and Jiangsu remained at 65%-70%, lower than the 75% seen in the same period of 2025. The recovery of terminal garment export orders has been slower than expected due to overseas inventory cycles. As a key raw material for draw texturing yarn and direct weaving, price fluctuations in polyester POY directly transmit to the grey fabric and fabric sectors.

When the upstream price range expands, downstream buyers tend to wait and see, hoping for even lower prices. This 'buy on rising, not falling' mentality exacerbates inventory pressure for high-priced enterprises. From an industrial logic perspective, Rongsheng's 7,800 yuan quote may become a short-term market anchor. If other companies do not follow with price cuts, they risk slower shipment in July.

Regional Competition: Internal Dynamics of Zhejiang's Chemical Fiber Cluster

Zhejiang is China's largest production base for polyester POY, with the three cities of Shaoxing, Hangzhou, and Jiaxing accounting for about 40% of national capacity. The current quotation data shows that companies in Shaoxing (Juxing, Jiabao) quoted in the 8,050-8,250 yuan/ton range, while those in Hangzhou (Kaishi, Rongsheng, Senkai) showed a wider span from 7,800 to 8,300 yuan. This intra-regional price disparity reflects differences in raw material procurement models, energy costs, and product mix.

Notably, Jiangsu Guowang (Shenghong) entered the Zhejiang market with a quote of 8,250 yuan, indicating intensifying cross-provincial competition. Shenghong's capacity release in Jiangsu is exerting price pressure on local Zhejiang firms. If PTA prices continue to fluctuate in the coming two months, profit margins for Zhejiang POY enterprises will be further squeezed, potentially accelerating industry consolidation.

Practical Recommendations

For Buyers - Focus on the shipment pace of low-price enterprises like Rongsheng and Senkai. If their inventories decline significantly, the current low-price window may close. - July is a traditional off-season. Consider phased procurement to avoid locking in high prices in one go. If high-price companies like Tongkun start adjusting prices, it can be seen as a market turning signal. - Prioritize suppliers with a high degree of integration (e.g., Rongsheng, Tongkun) for better risk resistance and delivery stability.

For Mills - For POY producers, avoid blindly expanding capacity. Instead, focus on differentiated products (e.g., cationic, flame-retardant POY) to enhance bargaining power. - Monitor PTA futures trends and use hedging instruments to lock in raw material costs, preventing passive price following. - If inventory exceeds 15 days, consider proactive price cuts to destock and avoid forced selling later.