According to data from SunSirs, polyester filament prices were stable at first, then rose, and remained stable at the end of the month; prices rose slightly during the month, supported by low inventory levels. As of February 28, POY 150D/48F: 7,150–7,200 RMB/ton, FDY 150D/96F: 7,450–7,500 RMB/ton, DTY 150D/48F: 8,350–8,400 RMB/ton (+50).

Price Trends (February 2026, Mainstream Prices in East China)

Early Month (February 1-10): High-level stalemate with slight fluctuations

After the Spring Festival, costs fluctuated and downstream resumption of work was slow; prices consolidated within a narrow range.

POY 150D: 7,000–7,050 RMB/ton; FDY: 7,200–7,300 RMB/ton

Mid-month (February 11–24): Rising Costs, Steady Increase

PTA/MEG strengthened, increasing cost support; major manufacturers maintained prices, and restocking was driven by immediate needs.

POY rose to 7,050–7,150 RMB/ton; FDY to 7,300–7,450 RMB/ton

End of the month (February 25-27): Slight price increases across the board, with prices remaining stable and a wait-and-see approach.

On the 25th, major manufacturers generally raised prices by 50-100 RMB/ton; on the 26th and 27th, prices remained stable, with transactions primarily driven by immediate demand.

Core Market Analysis

1. Cost Side (Core Support)

Strong Crude Oil/PX: Overall cost support existed, with PTA/MEG trending upwards within the month.

Acceptable Processing Fees: Filament processing fees were 1,200-1,300 RMB/ton, still profitable, and factories faced no pressure to actively lower prices.

Smooth Transmission: Rising raw material prices were gradually being passed on to filament, supporting price increases.

2. Supply Side (Low Inventory + Stable Operating Rate)

Operating Rate: Monthly average 78%–80%, with maintenance units restarting and supply moderately recovering.

Inventory (Key):

POY inventory: 11.7–12.7 days (historically low, far below the 20–25 day average)

FDY: 15–18 days, DTY: 19–20 days, overall inventory is healthy.

Strong Willingness to Maintain Prices: Factories were reluctant to sell due to low inventory, resulting in firm prices.

3. Demand Side (Slow Recovery, Mainly Essential Needs)

Resumption of Work: The operating rate of looms in Jiangsu and Zhejiang provinces had rebounded from 40% to 78%, but was still below normal levels.

Cautious Purchasing: Downstream buyers were replenishing inventory with small, essential orders; new orders were limited, and the willingness to chase higher prices was weak.

Sluggish Production and Sales: On February 27, the average production and sales of sampled enterprises was only 28.8%, far below the 70% break-even point.

Peak Season Expectations: The traditional peak season is in mid-to-late March; the market is awaiting clear signals from order books.

4. Market Sentiment

Low inventory and peak season expectations support confidence; factories are mainly maintaining stable prices with slight increases in some areas.

Downstream buyers are largely adopting a wait-and-see approach; most transactions are for immediate needs, and acceptance of higher prices is limited.

Short-term outlook (early March)

Trend Assessment: Slight upward movement with a generally strong bias; significant pullback unlikely.

Core Drivers: Low inventory levels providing a floor + cost support + accelerated resumption of downstream operations.

Key Focus Areas:

PTA/MEG prices and crude oil trends

Loom operating rates and order fulfillment

Filament production and sales and inventory reduction speed

Risks: Sharp drop in crude oil prices, slower-than-expected downstream resumption of production, and weakening futures markets.

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