According to the Commodity Market Analysis System of Shengyi Society, the overall trend of polyester filament prices in May was initially upward and then stable, with a strong tendency towards stability. As of May 30th, the mainstream polyester filament factories in Jiangsu and Zhejiang Province quoted POY (150D/48F) at 6950-7200 yuan/ton, polyester DTY (150D/48F low elasticity) at 8050-8400 yuan/ton, and polyester FDY (150D/96F) at 7350-7450 yuan/ton.

price trend
In the first ten days, the price of polyester filament showed a stable, moderate, and slight upward trend. From May 6th to 9th, driven by the rise in international oil prices and polyester raw material costs, some companies raised their quotations by 50-100 yuan/ton.
In the middle of the month, stimulated by the temporary suspension of tariffs between China and the United States (the US cancelled 91% tariffs and suspended 24% tariffs for 90 days), the daily production and sales rate of polyester filament soared to 475.5% (some companies reached 1200%), and the daily increase of FDY, POY and other varieties reached 150-250 yuan/ton, causing a sharp rise in prices.
In late May, due to downstream inventory digestion and procurement returning to essential needs, the production and sales rate dropped to 30-50% from May 23rd to 28th. After a month end promotion, it briefly rebounded to 180%, but overall trading was light, and filament prices remained stable with a slightly strong trend.
Analysis of Core Influencing Factors
1. Cost side:
Crude oil price support: the Russia-Ukraine conflict and summer travel demand pushed up the international oil price (WTI exceeded 61 dollars/barrel), driving the cost repair of the polyester industry chain, and the polymerization cost remained above 5000 yuan/ton.
Poor transmission of PTA/MEG: After the release of domestic PX production capacity, prices stabilized, but weak downstream demand made it difficult for PTA price increases to be fully transmitted to polyester filament, squeezing the profitability of enterprises (POY cash flow continued to suffer losses).
2. Supply and demand pattern
Supply contraction: The three major companies actively reduced production of loss making varieties, coupled with the maintenance of Zhejiang Petrochemical and Shenghong Refining and Chemical facilities, resulting in a decrease in supply to support prices.
Weak domestic demand: May is the traditional off-season, and weaving enterprises mainly focus on essential needs due to a profit of only 0.01 yuan/meter from raw fabric and early stockpiling.
Export rebound: The 90 day suspension of tariffs between China and the United States stimulates the release of backlog orders, while Southeast Asia (Vietnam, Pakistan orders increase by 22-38%) and emerging markets (opening of Qiankai Port in Peru) partially offset the decline in the Indian market (BIS certification leads to a 76.85% decrease in exports).
3. Policy and International Trade
Domestic policy easing: The central bank’s reserve requirement ratio and interest rate cuts have increased liquidity, and the expected retail growth rate of consumer goods is 5.5%. The potential for domestic demand is yet to be released.
Repeated trade frictions: The United States retains a 10% tariff and Pakistan’s anti-dumping investigation poses long-term pressure, but the decrease in shipping costs (with a 22% reduction in Egyptian shipping costs) has eased some export costs.

Future prospects
Business analysts believe that. In the short term, the price may maintain a narrow range of shocks. The turnover is expected to decline around the Loong Boat Festival, and de stocking is still the main theme. Weak demand and high inventory suppress the general growth space. In the medium to long term, the increase in industry capacity concentration, coupled with the widening supply-demand gap from 2025 to 2026, may lead to an upward trend in prices, reaching 88-18.9 million tons. Focus on crude oil fluctuations, PX overcapacity, and the sustainability of terminal orders in the future.