8,400 yuan per ton — that is the latest spot quote for Shaoxing Jiabao's semi-dull FDY 75D/36F, down about 100 yuan from the previous level. This polyester filament yarn producer in Shaoxing recently adjusted quotes across its entire range of polyester FDY products, covering more than ten specifications in both semi-dull and bright series.
Background
According to publicly available industry data, the adjustment covers common specifications from 75D to 300D. In the semi-dull FDY series, 75D/36F was quoted at 8,410 yuan/ton, while 150D/96F, 200D/96F, 300D/96F, and 300D/192F were all quoted at 8,110 yuan/ton. In the bright FDY series, 75D/36F was quoted at 8,760 yuan/ton, 108D/36F at 8,660 yuan/ton, 150D/48F at 8,610 yuan/ton, and 200D/96F and 300D/96F both at 8,610 yuan/ton. The reduction range is 100-150 yuan/ton, marking a relatively concentrated price adjustment in recent times.
Notably, this price cut is not an isolated event. From the perspective of the polyester industry chain, polyester FDY, as a mainstream product in the filament category, is often considered a barometer of market supply and demand. Shaoxing Jiabao's move suggests that at this point, polyester mills are leaning towards a "volume over margin" strategy.
Industry Impact
The direct impact of this price adjustment is felt at three levels. First, it puts bearish pressure on the polyester FDY spot market. The multi-score rating system's -1 rating reflects the current loose supply-demand balance — downstream weaving mills show weak purchasing willingness, intermediate trader inventories are slow to clear, and factories are forced to cut prices to stimulate shipments.
Second, it creates a contagion effect on overall polyester sector sentiment. Polyester staple fiber (PSF) and polyester FDY are both downstream products of the polyester chain. Although the main PSF contract 2609 on the Zhengzhou Commodity Exchange closed at 6,858 yuan/ton on July 6, up 74 yuan/ton from the previous trading day with open interest increasing by 15,420 lots, the spot market bearishness has already weighed on the futures market. The PSF multi-score rating of -0.5 is a quantitative reflection of this "futures-spot divergence" pressure.
Third, for downstream buyers, the current price window presents heightened bargaining value. On one hand, lower prices mean reduced procurement costs in the short term. On the other hand, if market expectations weaken further, prices may still have room to decline. This uncertainty makes weaving mills more cautious, favoring a low-inventory, just-in-time procurement strategy.
From a regional industrial cluster perspective, Shaoxing, as a major polyester chemical fiber production base in China, has a pricing behavior that often has a demonstration effect on surrounding markets. Whether similar products in Shengze and Xiaoshan can hold their current price levels will be a key indicator to watch for the spread of this price cut.