Daily review: Cautious Operations by Traders Keep Polyester Chip Market Largely Stable

Market Overview: On June 2, 2026, polyester chip market prices generally remained stable. In the Jiangsu-Zhejiang region, negotiated transaction prices for semi-dull chips were around RMB 7,220/mt, unchanged from the previous working day. Negotiated transaction prices for bright chips were around RMB 7,400/mt, also unchanged from the previous working day. As the U.S.-Iran conflict intensified again, crude oil fluctuated and adjusted, pushing the cost side upward. Bullish sentiment in the market remained in place, and most chip producers kept their quotations stable, with a few making slight adjustments. However, as cautious sentiment among downstream buyers continued to dominate, the center of gravity for actual transaction prices showed no obvious change.

In terms of supply, the average operating rate of the polyester chip industry is around 78.84%.

Upstream market: International crude oil provided limited support, but supply was relatively tight in some regions. The East China domestic PTA market was fluctuating slightly to firmer levels, with prices around RMB 6,385/ton. The ethylene glycol market rose narrowly, with East China spot prices around RMB 4,625/ton.

Market outlook: The situation in the Middle East remains volatile, and the prospects for U.S.-Iran ceasefire talks are unclear. The market is expected to adopt a cautious wait-and-see stance as developments unfold. Baiinfo expects international oil prices to fluctuate widely in the short term. Cost-side support remains in place, but pressure from weakening demand persists, and market confidence in the outlook is insufficient. The polyester chip market is expected to adjust within a range tomorrow. In Jiangsu and Zhejiang, semi-dull chip prices are expected to fluctuate within RMB 7,200-7,350/tonne, while bright chip prices are expected to fluctuate within RMB 7,300-7,450/tonne.