On August 4, public quotes for polyester FDY 150D/96F semi-dull filament in East China ranged from 8,510 to 8,860 yuan per ton, with a maximum spread of 350 yuan. While this number is not striking on its own, the divergence among identical specifications, grades, and colors signals a subtle shift in market pricing mechanisms. When costs converge but quotes diverge, it indicates that downstream order bargaining power is penetrating factory price lists.
Price Divergence: From Cost-Driven to Order-Driven
According to public data, Rongsheng Petrochemical quoted 8,600 yuan/ton, Zhejiang Jiabao quoted 8,510 yuan, Juxing Chemical quoted 8,600 yuan, Tongkun Group quoted 8,860 yuan, and Tiansheng Chemical quoted 8,760 yuan. These five companies are located in Hangzhou, Shaoxing, and Tongxiang, with a maximum price gap of 350 yuan per ton—uncommon in a cost-led market. When raw material prices for PTA and MEG stabilize, factory quotes increasingly reflect inventory pressure and demand for orders.
Tongkun's highest quote of 8,860 yuan may not simply reflect cost support but could indicate a premium for high-end applications. Jiabao's lowest quote of 8,510 yuan likely signals a strategy to secure cash flow orders through pricing. This divergence benefits buyers by providing comparison opportunities, but for factories, it implies a loss of pricing power for homogeneous products.
Regional Industrial Belt Response: Inventory vs. Orders
The price gaps among Hangzhou, Shaoxing, and Tongxiang reflect different supply-demand structures. Shaoxing, a major chemical fiber production base, hosts companies like Jiabao and Juxing, with relatively concentrated quotes, indicating intense competition. Hangzhou-based Rongsheng and Tongkun quote higher, possibly due to product stability or customer mix. This regional spread offers downstream weaving mills cross-regional arbitrage opportunities.
More notably, the widening spread may signal a turning point in inventory cycles. When factories proactively adjust prices rather than follow cost fluctuations, it often implies rising inventory pressure or weaker expectations for H2 orders. For weavers, increasing purchase frequency is advisable, but stockpiling is not recommended, as the spread may widen further.