Chemical Fiber Raw Materials Diverge: PTA Leads Gains, Acrylonitrile Plunges, Reshaping Textile Chain Profit Distribution

In the second week of July 2026, the textile commodity market delivered a mixed report: PTA rose 2.25% weekly, pulling polyester staple fiber up 0.95%, but acrylonitrile plunged 4.20%, while polyester FDY and DTY fell 1.68% and 1.28% respectively. The industry's overall average change was -0.38%, with a 4:9 ratio of gainers to losers.

This data reveals a key signal: price spreads among chemical fiber raw materials are widening rapidly, and the profit distribution logic of the upstream chain is undergoing structural adjustment.

The Supply-Demand Gap Behind PTA's Strength

PTA closed the week at 5,910.50 yuan/ton, up 2.25% weekly and a striking 21.80% year-on-year. This performance is not isolated—spandex also logged a 21.09% YoY gain, and cotton rose 16.48% YoY. A common thread: upstream capacity expansion has slowed, while downstream demand—whether from apparel exports or home textile domestic sales—remained relatively resilient in the first half of 2026.

PTA's strength deserves special attention. As the "throat" of the polyester chain, its jump from 5,780 to 5,910 yuan directly raised production costs for polyester staple fiber. The latter rose only 0.95%, far less than the raw material, indicating that staple fiber mills' margins are being squeezed.

Acrylonitrile's Plunge: A Textbook Case of Imbalance

In stark contrast to PTA, acrylonitrile fell from 9,533 to 9,133 yuan, a weekly loss of 4.20%. Although still up 15.61% YoY, the sharp short-term decline signals a clear reversal in supply-demand dynamics. Acrylonitrile mainly feeds acrylic fiber, ABS resin, and acrylamide; demand for acrylic fiber in textiles remains weak, while new capacity has been released in concentrated waves.

The collective weakness of the polyester filament yarn segment—FDY down 1.68%, DTY down 1.28%, POY down 0.77%—also confirms the uncertainty in end demand. Polyester filament yarn is mainly used in garment fabrics and home textiles; summer is traditionally a low season, with downstream weaving mills running at reduced rates and procurement limited to immediate needs.

Cotton and Viscose: Stable but with Underlying Variables

Cotton yarn 32S and 21S edged up 0.61% and 0.28% respectively, while raw cotton dipped 0.92%. The gentle fluctuations in the cotton complex suggest a balanced tug-of-war between upstream farmers' price expectations and downstream spinners' hand-to-mouth buying. Viscose staple fiber and rayon yarn were flat for the week, but their YoY gains of 9.06% and 3.17% show that the viscose chain, supported by dissolving pulp costs, has shifted its price center upward compared to last year.

Raw silk was the only variety to decline year-on-year, down 10.07%. The sericulture industry continues to suffer from substitution by synthetic fibers and shifts in export orders.

Practical Recommendations

For Procurement Managers - Monitor the PTA-polyester staple fiber spread: if PTA keeps rising while staple fiber lags, consider locking in forward staple fiber orders to hedge against delayed cost pass-through. - Delay acrylonitrile and acrylic fiber purchases: the short-term supply glut is likely to persist, and further downside is possible after the sharp drop. - Maintain hand-to-mouth cotton yarn buying: the cotton market lacks a clear directional driver, making large stockpiles unnecessary.

For Export-Oriented Firms - Build profit buffers into polyester filament (FDY/DTY) export quotes: with PTA rising but filament prices falling, avoid compressing margins too thin in quotations. - Monitor RMB exchange rate and ocean freight fluctuations: these factors can sometimes outweigh raw material costs in their impact on export competitiveness. - Consider shifting acrylic fiber orders to polyester or viscose blends: the weakness in the acrylonitrile chain may persist, making substitutes increasingly cost-attractive.