8,800 CNY per ton. That was the joint offer on July 27, 2026, from two major Zhejiang polyester producers: Rongsheng Petrochemical and Juxing Chemical Fiber, both for polyester FDY 150D/96F semi-dull AA grade. After nearly a quarter of steady price declines, this number carries more weight than a routine market update—it may well mark the bottom of the current cycle for the chemical fiber chain.
The Logic Behind Price Convergence
The identical quotes from Rongsheng and Juxing are no coincidence. Both companies are based in Zhejiang—Rongsheng in the Xiaoshan cluster and Juxing in Shaoxing—representing the industry's capacity leader and a mid-sized regional player, respectively. When a giant and a mid-tier producer align on pricing, it signals a market consensus: current prices are near the cost floor for most manufacturers, leaving little room for further declines.
Industry data shows that polyester FDY 150D has fallen roughly 6%-8% since the second quarter of 2026, squeezed by collapsing upstream PTA costs and lower weaving mill operating rates. In this round of adjustment, smaller polyester plants have already cut output or switched products, with supply-side contraction setting the stage for a price floor.
A New Phase in the Cost-Demand Game
At 8,800 CNY/ton, the price is close to the cash cost for melt-spinning plants that purchase PTA and MEG externally. Industry estimates suggest that when FDY 150D falls below 8,700 CNY, losses for non-integrated facilities quickly widen. Rongsheng, with its integrated PX-PTA-polyester chain, can absorb some pressure, but Juxing, which relies on external raw materials, has no margin left at this level.
On the demand side, the downstream weaving market is in a traditional off-season. Water-jet loom utilization in Jiangsu and Zhejiang averages 65%-70%, down about 5 percentage points year-on-year. Apparel brands are ordering in small batches with multiple deliveries, and fabric traders are cautious about building inventory. However, gray fabric inventories have been declining for three consecutive weeks, suggesting a slow recovery in weaving sector absorption.
Practical Advice for Buyers and Exporters
For Buyers - Current prices are near the bottom of the cycle. If you have 10-15 days of safety stock, consider adding 2-3 days of inventory to lock in costs. - Monitor upstream PTA plant maintenance schedules: several units are planned for overhaul around September, which could lift FDY costs and narrow the procurement window. - Negotiate price-protection agreements with mid-sized polyester plants in Jiangsu and Zhejiang, leveraging current seller willingness to close deals for more flexible payment terms.
For Exporters - For FDY orders to Southeast Asia, prioritize FOB terms over CFR to avoid losses from potential domestic price rebounds on long-term contracts. - Track RMB exchange rate movements: if the yuan depreciates sharply, adjust forward quotes upward accordingly. - Use the current low price to sign annual framework agreements with overseas clients, locking in volume and price for more stable order share.
In summary, this price update from two Zhejiang producers is far more than a routine data point—it signals a market shift from panic selling to rational bottom-building. For every link in the supply chain, decisions made now will directly influence cost control and profit margins over the next two months.