Over the past year, the price of nylon POY has climbed from a low of 11,300 CNY/ton to a peak of 16,950 CNY/ton, and now hovers at 14,625 CNY/ton—a level that sits exactly at the midpoint of the annual range. On the surface, the market appears to have returned to equilibrium, but a closer look at the data reveals that this equilibrium is only superficial; the pricing power along the industrial chain is quietly shifting.
Event Background
Public data from Shengyi Society shows that on September 1, 2026, the benchmark price of nylon POY stood at 14,625 CNY/ton, up 4.46% from the beginning of the previous month. This increase seems moderate, yet it is set against a one-year average price of 13,086 CNY/ton—meaning the current price is 11.8% higher than the annual average. More notably, the daily change was 0.00%, with prices stabilizing for several consecutive days. This pattern of 'rising then flattening' is unusual in the pre-peak season period.
Extending the timeline from September 2025 to September 2026, the lowest price of 11,300 CNY/ton occurred at the cycle bottom, while the highest of 16,950 CNY/ton marked the top, a spread of 5,650 CNY/ton and an amplitude of about 50%. The current price of 14,625 CNY/ton is 2,325 CNY below the peak and 3,325 CNY above the trough. The median value is 14,125 CNY/ton, and the current price is 500 CNY above this median, indicating a cautiously optimistic market sentiment, far from exuberance.
Industrial Impact
The price position of nylon POY directly reflects the tug-of-war between upstream caprolactam costs and downstream textile demand. The current mid-range price suggests that upstream cost pressures have not been fully transmitted downstream, and downstream acceptance of high-priced raw materials is limited. For chemical fiber enterprises, this implies squeezed profit margins—raw materials rise while products cannot rise correspondingly, narrowing processing spreads, prompting factories to prefer just-in-time procurement over stockpiling.
For weaving and garment companies, the sideways movement in POY prices offers a procurement window, but the 4.46% monthly increase signals trend risk. If downstream orders are released intensively during the traditional peak season (September-October), POY prices may break above the mid-range and move toward the upper bound. Conversely, if terminal consumption disappoints, prices could fall below the median. Thus, the current level is both a 'safety cushion' and a 'watershed.'
From the perspective of industrial clusters, operating rates in nylon hubs like Shengze and Changle are likely to remain stable, but inventory strategies will diverge: financially robust companies may moderately increase raw material inventories, while small and medium factories prefer low inventories and fast turnover. This divergence will intensify market competition and drive industry consolidation.