According to data from SunSirs, polyester filament prices remained stable today, with transactions driven by immediate needs.

Spot prices (RMB/ton, mainstream prices in East China)

POY 150D/48F: 7,150–7,200 (unchanged from yesterday)

FDY 150D/96F: 7,450–7,500 (unchanged)

DTY 150D/48F: 8,350–8,400 (+50, slight increase)

Industrial yarn 1000D: 11,800–12,000 (unchanged, stabilized after a 200 increase on the 25th)

Compared to yesterday (February 26): Overall stable, no widespread decline

Core Logic

1. Supply and Demand: Low Inventory + Accelerated Resumption of Work

Extremely low inventory: POY inventory is only 11.7 days (a near 10-year low, far below the 20-25 day average).

Controllable supply: Filament operating rate is 75%-80%, lower than the same period in previous years, with no oversupply pressure.

Demand recovery: Loom operating rate in Jiangsu and Zhejiang is 78% (rapidly rebounding after the holiday), with continued restocking for immediate needs.

Production and sales divergence: Filament at 40%-50%, PET chips at only 30%, with significantly better demand for filament.

2. Costs: Slightly weakened, but support remains

PTA futures contract 5214 (-1.28%) and MEG futures are weak, with costs slightly decreasing.

Filament processing fees are 1,200-1,300 RMB/ton, still profitable, with no pressure to lower prices to increase sales volume.

Factories have a strong willingness to maintain prices, prioritizing price stability and not actively following price declines.

3. Market Sentiment: Peak season expectations + low inventory levels indicate strong resilience against price drops

With the peak season of March approaching, demand recovery is clearly expected.

Low inventory levels prevent concentrated selling, and futures market sentiment remains stable, not leading the decline.

Market participants are bullish but not chasing the rally, maintaining a wait-and-see approach and exhibiting rational trading.

Market outlook

According to SunSirs, polyester filament prices remained stable today, driven by essential demand. The core factors were low inventory and accelerated resumption of downstream production, offsetting the slight weakening of costs, resulting in stable prices with a slight upward bias. Factories are determined to maintain prices, making a significant drop in spot prices unlikely. Prices are expected to consolidate within the current narrow range, potentially testing the upper limit. Key short-term observations include whether downstream weaving machine operating rates can exceed 80%, whether production and sales can rise to 60%+, whether PTA/MEG prices stop falling, and whether factory inventories remain low.

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