On July 20, Rongsheng Petrochemical, a leading domestic chemical fiber company, announced a price increase of 100-200 yuan/ton for its polyester filament yarn, covering the entire semi-dull POY series. This price adjustment is not an isolated event but the result of recent raw material cost transmission, marginal changes in supply and demand, and market sentiment resonance.
Price Hike Logic: Resonance of Cost and Sentiment
From the upstream perspective, pure benzene, as a core raw material for polyester filament yarn, has shown strong price momentum recently. On the same day, the main 2609 contract of pure benzene on the Dalian Commodity Exchange rose by 304 yuan/ton, a significant gain. After the price hike of polyester filament yarn, the profitability of end products improves, which will further strengthen the demand expectation for upstream raw materials, forming a positive feedback loop. The high price of pure benzene provides solid cost support for polyester filament yarn, which is the underlying logic of this round of price increases.
Within the chemical fiber sector, the price increase of polyester POY directly pushed up spot quotes, providing general bullish support for the market. At the same time, the main 2609 contract of polyester staple fiber on the Zhengzhou Commodity Exchange rose by 146 yuan/ton, showing a sector linkage effect. Polyester staple fiber and POY belong to the same chemical fiber category, and the long-fiber price hike by the leading company boosted overall market sentiment, providing minor positive support for staple fiber in the short term.
Specific Adjustment Details and Market Reaction
Rongsheng Petrochemical's price adjustment covered the main semi-dull POY specifications: 75/36 at 8,550 yuan/ton, 100/96 at 8,550 yuan/ton, 150/48 at 8,250 yuan/ton, 300/96 at 8,300 yuan/ton, and black yarn 300/96 at 8,750 yuan/ton. From the price gradient, fine denier specifications (75/36, 100/96) are priced higher than coarse denier ones, consistent with product value-added differences. Black yarn, due to its special process, has the highest quote, reflecting the premium of differentiated products.
The market reacted positively, but two points need attention: first, the increase range of 100-200 yuan/ton is moderate and did not trigger violent fluctuations; second, the procurement willingness of downstream weaving mills remains to be seen. Against the backdrop of not yet obvious recovery in end demand, weaving mills may adopt a demand-based procurement strategy, exerting some pressure on the price increase.
Impact on Industry Chain Links
For polyester POY, this price hike directly improves the profit margins of producers, but sustainability depends on downstream acceptance. Current industry operating rates are at medium-to-high levels, with manageable inventory, providing strong short-term price support.
For polyester staple fiber, the main benefit comes from boosted sector sentiment. Staple fiber and filament yarn have overlapping raw materials and similar cost transmission logic, but staple fiber's own supply-demand pattern is relatively loose, limiting the potential for significant increases.
For upstream pure benzene, the polyester filament yarn price hike benefits the profitability of end products, which will drive better demand expectations for pure benzene. However, pure benzene prices are more influenced by crude oil and aromatics plant operating rates; the transmission effect of the polyester filament yarn price hike is a marginal positive.
Industry Trends and Operational Suggestions
From a broader perspective, the chemical fiber industry in the second half of 2026 faces multiple variables: crude oil price fluctuations, changes in PX/PTA supply and demand, and the export situation of the terminal textile and apparel sector. This price adjustment by Rongsheng Petrochemical may trigger follow-up by other polyester factories, forming an industry-wide price increase. However, caution is needed: if downstream demand fails to keep up, the price increase could turn into inventory accumulation, subsequently suppressing prices.