The polyester filament market has received a clear price hike signal. On July 23, 2026, Rongsheng Petrochemical (including Shengyuan Petrochemical) announced an increase in ex-factory prices across its polyester DTY product lines, with the mainstream 150/48 low-elasticity yarn reaching 9,450 yuan/ton. This is not an isolated adjustment but a reflection of a broader strengthening trend across the polyester supply chain.
Price Details and Market Reaction
According to publicly available industry data, Rongsheng's price adjustment covered specifications from 75D to 300D. Specifically: 75D/36F low-elasticity yarn at 10,450 yuan/ton, 100D/96F light-mesh yarn at 10,050 yuan/ton, 120D/192F micro-mesh yarn at 9,950 yuan/ton, 150/48 low-elasticity at 9,450 yuan/ton, 150/96 low-elasticity at 9,500 yuan/ton, 300/96 low-elasticity at 9,150 yuan/ton, 300/96 light-mesh at 9,350 yuan/ton, and 300/96 heavy-mesh at 9,500 yuan/ton. The increases varied by specification but showed a stepwise upward trend.
Following the announcement, market trading confidence improved markedly. The polyester staple fiber futures contract 2609 closed at 7,478 yuan/ton on the same day, up 102 yuan/ton from the previous session, with open interest rising by 5,250 lots, indicating a bullish trend. PX futures also strengthened, closing at 8,350 yuan/ton, up 164 yuan/ton, with open interest increasing by 5,932 lots. Benzene futures maintained a stable-to-strong trend, closing at 7,636 yuan/ton. This chain of futures gains reflects a market-wide expectation of a higher price center for the polyester chain.
Driving Factors: Convergence of Cost and Demand
This price hike was not accidental. On the cost side, upstream PX and benzene prices have been rising recently, exerting strong cost-push pressure on polyester filament. PX, as a direct raw material for PTA, directly influences polyester filament production costs. Benzene, a base material for styrene and caprolactam, signals a broader cost increase across the petrochemical chain. As an integrated industry leader, Rongsheng's price adjustment is a natural transmission of upstream cost pressures.
On the demand side, downstream weaving mills have maintained relatively high operating rates, creating rigid demand for raw materials. Orders for autumn and winter fabrics are gradually picking up, boosting demand for differentiated products like DTY. Industry data shows that loom operating rates in Jiangsu and Zhejiang provinces remain above 70%, with grey fabric inventories declining, providing demand support for the price hike.
However, caution is warranted. End-user apparel consumption is still in a weak recovery phase, and uncertainties in export orders persist. If downstream mills cannot pass on raw material cost increases to fabric and garment prices, the sustainability of the price hike will be tested.
Chain Reaction and Market Outlook
Rongsheng's price move has lifted sentiment across the entire polyester sector. Although polyester staple fiber differs in application from filament, they share the same polyester category, so market sentiment spillover is significant. The increase in long positions in futures markets suggests capital is optimistic about short-term price trends. The simultaneous rise in PX and benzene prices indicates that the upstream is also benefiting from this price hike cycle.
Historically, a price increase by a leading company often triggers follow-ups by competitors. If other polyester plants adjust their quotes in the coming week, spot polyester filament prices could see a broad-based rally. This presents a profit-repair window for inventory-holding traders and mills, but for downstream buyers, it requires a reassessment of procurement timing and cost-control strategies.
In the medium to long term, the sustainability of polyester filament price strength depends on three variables: upstream crude oil and PX price trends, the persistence of downstream fabric orders, and the polyester industry's own operating rates and inventory levels. Currently, polyester plant inventories are at moderately low levels, providing favorable fundamental conditions for price increases.