Polyester POY (150D/48F semi-dull premium grade) was uniformly quoted at 8,450 yuan/ton in both Shaoxing and Hangzhou, two major chemical fiber trading hubs, on July 27, 2026. The consistent pricing from Zhejiang Juxing Chemical Fiber and Rongsheng Petrochemical indicates a growing consensus among sellers on the current price level—this is not a promotional move by individual companies but a collective confirmation of a market bottom.
Industrial Logic Behind Price Stabilization
The rebound of POY prices to 8,450 yuan/ton from earlier lows is supported by both cost and demand factors. On the raw material side, PTA and MEG prices rebounded in late July, directly raising the production cost of polyester chips. As a direct-spun polyester product, POY pricing naturally follows raw material fluctuations. More importantly, weaving enterprises had maintained low raw material inventories and, facing the upcoming autumn/winter fabric restocking season, concentrated restocking demand emerged, providing volume-price support for POY sales. Rongsheng's quote in Hangzhou is not an isolated action; it represents the judgment of large integrated refining and chemical enterprises on the profit distribution along the chain—within the current crude oil price range, POY maintaining 8,400-8,500 yuan/ton is a balance acceptable to both upstream and downstream.
Regional Industrial Belt Transmission Effects
Shaoxing and Hangzhou are core hubs of Zhejiang's chemical fiber industry. The synchronization of quotes directly reflects the raw material procurement rhythm of the Yangtze River Delta weaving cluster. Shaoxing's Keqiao Textile City is the largest fabric trading market in China, surrounded by a large number of circular knitting and water-jet loom enterprises with strong rigid demand for POY. When a local fiber factory quotes 8,450 yuan/ton, it means local weaving enterprises have accepted this level and are purchasing as needed rather than waiting further. As the headquarters of Rongsheng Petrochemical, Hangzhou's quote reflects the pricing strategy of the industry leader—stabilizing POY prices to anchor the pricing system for downstream products like DTY and FDY.
Industry Chain Profit Distribution Reality
At 8,450 yuan/ton, the gross profit margin for POY producers remains thin. Based on current PTA prices, the processing spread for POY is about 1,200-1,300 yuan/ton. After deducting labor, energy, and depreciation, net profit is minimal. However, compared to the extreme lows below 8,000 yuan/ton in the first half of the year, the current price has moved factories from near-loss to marginal profitability. For downstream weavers, this price means controllable fabric costs. If end-garment orders hold up, the profit margin in the grey fabric segment may actually be better than in raw materials.
Key Variables for Future Trends
Whether POY prices can stabilize at 8,450 yuan/ton depends on three factors: first, international oil price trends—if Brent crude falls below $70/barrel, PTA cost support will collapse; second, weaving enterprise operating rates—currently around 65% in Jiangsu and Zhejiang, if autumn/winter orders fall short, lower operating rates will directly suppress POY demand; third, polyester factory inventory levels—POY inventory has dropped from about 20 days in early July to 15 days, but if end-consumption remains weak, destocking may slow.