In late August, nylon yarn prices in Shengze and Jiaxing markets saw a broad upward adjustment, covering monofilament, multifilament, FDY, ATY, and other categories, with increases ranging from a few hundred to over a thousand yuan per ton. However, unlike the price hikes, transaction volumes did not expand correspondingly; most specifications moved steadily, and some even showed signs of sluggishness. This pattern of "price quotes rising but transactions stable" reveals that the nylon yarn industry chain is undergoing a cost-driven price revaluation, while demand-side support is insufficient to fully absorb the increases.
Price Structure: Fine Denier Premium, Intensified Differentiation
Looking at the latest quotes, the premium for fine denier specifications remains prominent. The first-grade 17D/1F semi-dull nylon monofilament is quoted at 18,800 yuan/ton, while 20D/1F semi-dull monofilament is at 18,700 yuan/ton, whereas 110D/24F semi-dull multifilament is only 11,200 yuan/ton, a gap of 7,600 yuan/ton. Fine denier products require higher equipment and process standards, with production concentrated among a few leading enterprises, thus giving them stronger pricing power. In contrast, conventional coarse denier multifilament is highly homogeneous, leading to fierce price competition and more moderate increases.
It is worth noting that the price gap between FDY and ATY is also widening. 70D/24F nylon-6 FDY (domestic) is quoted at 14,900 yuan/ton, while 160D nylon-6 ATY semi-dull is at 15,900 yuan/ton. ATY, with its cotton-like and wool-like tactile properties, is widely used in autumn/winter fabrics, providing stronger demand support. Additionally, 160D ATY full-dull from Shandong and Taiwan are quoted at 15,900 and 16,000 yuan/ton respectively, with minimal regional differences, indicating that high-end products have formed a nationwide price band.
Raw Material Pass-Through: Caprolactam Price Hikes Are the Core Driver
The direct driver of this round of nylon yarn price increases is the rise in upstream raw material prices. The main raw material for nylon yarn is caprolactam (CPL), whose price fluctuations directly determine the cost floor for nylon yarn. Recently, CPL market prices have moved upward, driving polymer chips to follow suit, which then transmits to the spinning segment. However, it is noteworthy that the raw material increase has not been fully passed through to downstream—for example, 70D/24F nylon-6 FDY (domestic) is quoted at 14,900 yuan/ton, only a slight increase from the previous month, indicating that factories are holding back on price hikes for fear of further dampening demand.
This pattern of "raw materials rising but yarn prices rising slightly" actually compresses the processing margins of nylon yarn mills. For factories mainly producing conventional specifications, profit margins have been squeezed to near break-even; while enterprises with differentiated product lines can maintain profitability through high-premium specifications. This implies that, in the coming period, profit divergence in the nylon yarn industry will further intensify.
Market Reaction: Downstream Wait-and-See Sentiment, Slower Restocking
From actual transactions in the Shengze and Jiaxing distribution hubs, downstream weaving enterprises have not been panic-buying due to price hikes. On the contrary, most buyers are purchasing on a need basis, and some are even postponing orders. The reason is that the current terminal demand for apparel and home textiles is generally flat, brands are cautious in placing orders, and weaving mills themselves face inventory pressure, thus adopting a wait-and-see attitude towards raw material price increases.
This sentiment is also reflected in data: although quotes for most specifications have been raised, the bargaining space between actual transaction prices and quotes still exists, especially for large orders, which can often be secured at 500-1,000 yuan/ton below the quoted price. This indicates that the market has not truly accepted the price hikes; the increases are more of a "nominal adjustment" driven by costs, with limited upward movement in actual transaction prices.
Outlook: Short-Term Firm, Medium-Term Depends on Demand
Overall, nylon yarn prices still have upward inertia in the short term. On the raw material side, CPL supply is tight, and some polymerization units are under maintenance, so prices are expected to remain high. However, the medium-term trend depends on whether demand can keep up. If autumn/winter fabric orders are released as scheduled in September, nylon yarn prices may gain real support; if demand remains weak, price hikes are unlikely to be sustained and may even face a pullback.
For buyers, it is not advisable to chase prices at this moment; instead, they should watch for restocking windows after raw material prices retreat. For mills, they should accelerate product structure upgrades, reducing reliance on conventional specifications and shifting towards fine denier, functional, and differentiated products. For traders, they need to be wary of inventory risks caused by nominal price increases and control turnover pace.