In the 34th week of 2026, polyester filament yarns led gains across the textile complex, with POY, DTY, and FDY rising 2.00%, 1.76%, and 1.70% respectively. Meanwhile, acrylonitrile slumped 4.46% and PTA dropped 3.67%. This sharp divergence within the same week is not random—it reflects different supply-demand dynamics upstream and downstream, and signals that procurement pacing needs recalibration.
Price Divergence: Demand Pull vs. Cost Collapse
Weekly data show polyester filament as the clear leader. POY opened at 8,596 CNY/ton and closed at 8,767.5 CNY/ton; DTY and FDY also rose to 9,930.71 and 8,970 CNY/ton respectively. Year-on-year, these three products are up over 21%, indicating a significantly higher price plateau. Meanwhile, nylon filament series (DTY, POY, FDY) followed with gains of 0.29% to 0.97%, and viscose staple fiber and spun rayon yarn also edged up.
In contrast, upstream raw materials PTA fell 3.67% and acrylonitrile plunged 4.46% during the week. Notably, despite the declines, their year-on-year gains remain high at 26.54% and 44.12%, suggesting these are corrections from elevated levels rather than trend reversals. This combination of downstream strength and upstream weakness implies widening processing margins for polyester mills, but also hints at fading cost support.
Industrial Impact: Profit Redistribution and Inventory Strategy
The divergence between polyester filament and PTA directly improves cash flows for polyester producers. The spread between POY and PTA widened from 2,146 CNY/ton at the start of the week to 2,554 CNY/ton by the weekend—an expansion of over 400 CNY/ton in just five days. For mills in concentrated polyester hubs like Shengze and Changxing, this means significantly thicker gross margins per ton, likely sustaining high operating rates in the near term.
However, the persistent weakness in acrylonitrile pressures acrylic fiber and ABS-related chains. Acrylonitrile prices have fallen to 11,433 CNY/ton, still 44% higher than a year ago, but the 4.46% weekly drop could trigger downstream wait-and-see sentiment. For carbon fiber and acrylic fiber plants that use acrylonitrile as a feedstock, lower costs are a plus, but if the decline continues, buyers may postpone restocking, exacerbating inventory devaluation risks.
Raw silk prices rose 0.85% to 427,500 CNY/ton but remained 9.16% lower year-on-year, reflecting recovering supply against weak end-demand. Cotton lint edged up 0.06%, and cotton yarn prices were flat, indicating relative stability in the cotton textile chain, though year-on-year gains of around 5.6% mean cost pressures persist for spinners.