Daily Review: Cost Support Weakens, Polyester Chip Market Downturn Continues

Market overview: On June 12, 2026, the polyester chip market prices continued to weaken. In the Jiangsu and Zhejiang region, semi-dull chip negotiated transaction prices were around RMB 7,360/ton, down 0.54% from the previous trading day. Bright chip negotiated transaction prices were at RMB 7,460/ton, down 0.53% from the previous trading day. Repeated geopolitical uncertainties continued to weigh on the market, and international oil prices fell in negative territory. Cost-side fluctuations were adjusting, with only limited support. Polyester chip producers remained cautious in sentiment, quoting prices with a steady-to-lower trend, and discount room for actual deals increased slightly.

On the supply side: the average operating rate of the polyester chip industry is around 79.12%.

Upstream market: The domestic PTA market in East China is consolidating on a weak note; during the day international oil prices continued the overnight decline, cost-side support is inadequate, with prices around RMB 6,540/ton; the ethylene glycol market is running on the firmer side, with spot prices in the East China market around RMB 4,760/ton.

Market Outlook: Trump’s statements on Iran remain unpredictable, and geopolitical situations still carry the possibility of repeated fluctuations. The market maintains a cautious stance. According to Baichuan Yingfu, international oil prices are likely to fluctuate weakly in the short term. There are certain expectations of cost decline, while weak demand persists and market sentiment is bearish. In the short term, the polyester chip market is expected to be under pressure and adjust accordingly. In the Jiangsu and Zhejiang regions, the price range for semi-dull chips is expected to fluctuate between 7,300-7,400 RMB/ton, while the price range for bright chips is expected to fluctuate between 7,400-7,500 RMB/ton.