On July 6, 2026, the quoted prices for polyester POY (150D/48F semi-dull) in the Zhejiang market widened to a range of 7,800-8,400 yuan per ton, a spread of 600 yuan. Such a divergence for the same specification is rare in recent months. Zhejiang, the most concentrated region for polyester filament capacity in China, is witnessing a release of supply-demand contradictions through this price split.
Price Divergence: Big Mills Hold Firm, Small Mills Under Pressure
Public quotes reveal a clear tiered differentiation among major Zhejiang producers. Rongsheng Petrochemical offered the lowest at 7,800 yuan/ton, followed by Senkai New Materials at 7,900 yuan. In contrast, Tongkun Group's Hengteng unit quoted 8,400 yuan, while Zhejiang Juxing Chemical Fiber quoted 8,050 yuan, Hangzhou Kaishi Chemical Fiber 8,300 yuan, Jiangsu Guowang Gaoke (Shenghong) and Zhejiang Jiabao New Fiber both at 8,250 yuan.
This structure implies that large integrated players (Tongkun, Shenghong) can maintain higher quotes due to their complete industrial chain and brand premium. Smaller polyester plants are forced to cut prices to reduce inventory. Rongsheng's relatively low quote may stem from its PX-PTA-polyester integration, giving it more flexible cost control.
Dual Pressure: Overcapacity and Raw Material Volatility
The core issue for the POY sector is capacity growth outpacing demand. From 2025 to 2026, new polyester capacity has been concentrated in Zhejiang, leading to persistent supply glut. Downstream weaving utilization rates remain around 60% in Jiangsu and Zhejiang, with end-user orders mostly small and just-in-time.
On the feedstock side, PTA prices have fluctuated recently, ranging between 5,800-6,200 yuan/ton, influenced by crude oil and PX supply-demand. This instability leaves polyester mills without a common pricing anchor. Some mills cut prices to accelerate destocking, while brand-conscious firms try to maintain market confidence by holding prices.
Transmission Effects on Downstream Procurement
For downstream users like weaving mills and texturing plants, this price divergence means a narrower procurement window. A 600-yuan spread translates to a 5-8% difference in greige fabric cost per ton. For small mills with thin margins, choosing the wrong supplier could wipe out monthly profits.
Notably, lower-priced goods often come with stricter payment terms and shorter delivery cycles, while higher-priced ones may include longer credit periods or more consistent quality. Buyers should evaluate not just the quoted price but also working capital and quality risks.