On July 10, 2026, the textile raw material market experienced a notable downturn. Cotton fell 0.98%, polyester staple fiber 0.82%, and PTA 0.79%, all three major commodities declining simultaneously, a rare occurrence in recent markets. The overall sector posted a daily average decline of 0.15%. While most varieties saw no price change, year-on-year divergences were stark: spandex surged 21.09%, PTA climbed 21.80%, but raw silk dropped 10.07%.
This structural price divergence signals that supply-demand dynamics across different segments of the textile chain are undergoing subtle shifts.
Raw Material Side: Easing Costs and Inventory Pressure
Cotton prices fell to 17,706 yuan/ton, the steepest drop of the day, nearing a two-month low. The downward pressure stems from two factors: expectations of increased new-crop supply, and weak purchasing appetite from downstream spinning mills. Although cotton yarn prices remained stable, actual transactions were limited to essential needs, with little restocking momentum.
PTA and polyester staple fiber declines were more characteristic of cost transmission. PTA fell 0.79% to 5,910.50 yuan/ton. Though still high year-on-year, it has weakened consecutively. As the core raw material for the polyester chain, PTA's softening directly undermined cost support for polyester staple fiber, which dropped 0.82% to 7,332.23 yuan/ton, forming a clear co-movement with PTA.
Notably, polyester POY, DTY, and FDY all held steady, with year-on-year gains exceeding 10%. This suggests greater price resilience in filament yarn, supported by existing orders and healthier inventory structures.
Chemical Fiber Segment: Spandex Stands Out, but High Growth May Be Unsustainable
Spandex prices stood at 29,666.67 yuan/ton, up 21.09% year-on-year, the highest among monitored varieties. This strength is driven by robust demand for stretch fabrics in sportswear and yoga wear, coupled with a slower pace of domestic spandex capacity expansion. However, at these historic highs, downstream apparel brands are becoming more cost-sensitive, and some orders are shifting to alternative elastic fibers.
Viscose staple fiber and nylon series prices were flat, but year-on-year gains ranged from 6% to 9%, indicating a moderate upward trend. Blended yarns such as rayon and polyester yarn also remained stable, with year-on-year increases of only 1% to 3%, reflecting uneven recovery in end-consumer markets.
Raw Silk: The Only Deeply Declining Variety, Silk Industry Faces Challenges
Raw silk prices held at 425,700 yuan/ton, but year-on-year they fell 10.07%, the only monitored variety in negative territory. Persistent weakness is tied to sluggish global silk demand, especially in high-end apparel markets in Europe and the US. Domestic cocoon stocks remain high, and silkworm farmers' enthusiasm is waning. While production cuts may provide a floor, a near-term rebound is unlikely.
Market Outlook: Short-Term Pressure, Mid-Term Opportunities
From a chain transmission perspective, the current decline is driven by the confluence of easing upstream costs and seasonal weakening of downstream demand. July is a traditional off-season for textiles, with weaving mill operating rates generally falling and greige fabric inventories accumulating, leading to slower raw material procurement.
For buyers, the price correction may signal an opportunity to open a medium-term procurement window. Particularly for PTA and polyester staple fiber, if crude oil prices do not rebound sharply, further declines are possible. Cotton's trajectory will depend on new-crop weather conditions and policy stockpiling moves.
For exporters, exchange rate fluctuations and overseas inflationary pressures remain key uncertainties. While lower raw material costs benefit export cost control, order volume recovery still hinges on foreign consumption data.