The oil price rally failed to reverse the weakness in the polyester filament market. On July 22, trading sentiment in the Shengze and Jiaxing textile raw material markets was subdued, with polyester filament showing only a consolidating pattern. Rigid replenishment dominated transactions, with small-lot trades accounting for a significant share. Polyester plants maintained stable prices, while bright POY flat yarn was a rare outperformer due to differentiated demand.
Background
Data from July 22 shows that polyester raw materials rebounded modestly following an overnight oil price increase, but this sentiment did not effectively transmit to the spot market. FDY series prices remained stable, with 50D/24F and 61D/24F quoted at 9,550-9,600 yuan/ton and 9,300-89,400 yuan/ton, respectively. FDY 68D/18F, 75D/72F, 144F, and 100D/72F saw decent sales, but prices only adjusted slightly. Bright FDY fine denier supply was flat year-on-year, with 50D/36F at 9,600-9,650 yuan/ton and 75D/36F at 8,900-8,950 yuan/ton, indicating a relatively stable supply-demand balance.
DTY varieties showed clearer divergence. 75D/72F, 75D/144F network yarn, and fine-denier multi-hole grades like 120D/192F and 150D/288F saw sporadic demand, but mainstream 75D/36F and 150D/144F performed poorly, reflecting weak procurement appetite for conventional grades. For POY, multi-hole flat yarn sold slightly better, but POY for draw texturing saw limited volumes, and blended POY showed no improvement.
Industry Impact
Behind this market state is dual pressure from inventory and orders. Weaving, warp knitting, and texturing mills in Shengze and Jiaxing still hold polyester filament stocks, and procurement is intermittent. Domestic fabric demand is recovering seasonally, but new export orders remain insufficient, dampening mills' willingness to restock. Polyester plants are keen to destock—against the backdrop of unstable upstream PTA support, they prefer to move volumes to ease inventory pressure rather than raise prices.
The yarn market also showed divergence. On July 22, overall cotton yarn sales were stable, with prices steady. Trading concentrated on 32s and J40s, driven by demand for air-jet cotton-nylon fabrics. Polyester-cotton yarn volumes were low, but 80/20 blends in 32s and 45s saw moderate demand, with prices stable. Polyester-viscose 40s/2 volumes continued to rise, with prices adjusting slightly. Pure polyester 45s yarn moved, currently around 15,700 yuan/ton, while polyester staple fiber fluctuated around 7,800 yuan/ton.
Viscose yarn faced structural adjustments. The 10s grade remained active due to demand for diamond-cotton fabrics, but other grades saw low volumes, with individual prices already declining. Viscose staple fiber prices were stable at around 14,200 yuan/ton. Industry data suggests steady demand for differentiated products, but procurement of conventional grades has become cautious. The market expects further moderate adjustments for viscose yarn.
Most market participants believe that polyester filament will maintain a narrow range in the short term, with a possibility of slight upward movement driven by cost support. However, given the uncertainty of export order recovery and the slow pace of domestic demand improvement, the upside for raw materials may be limited. For polyester plants, balancing price stability with inventory reduction will be the key challenge in the coming weeks.