For the Quarter Ending June 2025
North America
• Polyester Filament Yarn (PFY) prices in North America declined by 10.9% quarter-over-quarter in Q2 2025, as sluggish downstream demand intersected with sufficient supply availability, reinforcing a soft market environment.
• Supply-side dynamics remained steady throughout the quarter, with consistent import flows from Asia ensuring adequate inventory levels despite upstream feedstock disruptions and logistical frictions like port congestion and customs delays.
• Logistics bottlenecks, including extended lead times and inland transportation inefficiencies, were prevalent but did not translate into material shortages, as prior stockpiling and adaptive procurement strategies helped balance supply chains.
• Downstream demand fundamentals stayed muted, with key segments such as textiles, apparel, and home furnishings exercising purchasing restraint amid economic uncertainty and cautious consumer spending patterns.
• Overall, the North American PFY market navigated Q2 in a structurally balanced yet demand-constrained environment, where aggressive competition from Asian exporters and tepid domestic consumption maintained persistent downward pressure on prices.
Why did the PFY Price Index change in July 2025 in North America?
• PFY prices in North America exhibited a mild upward bias in July, supported by precautionary restocking as buyers moved to hedge against potential tariff hikes on imports from BRICS countries, including China and India.
• Despite ongoing port congestion and upstream supply disruptions in Asian exporting markets, import flows into the U.S. remained stable, preventing any severe supply-side tightness.
• Downstream demand showed modest improvement, particularly in the textile sector, where retailers increased procurement in anticipation of back-to-school and early fall-season inventory needs, though the overall market remained cautious.
• While the tariff-driven urgency led to firmer pricing during early July, the broader market sentiment stayed conservative, with buyers limiting purchases to essential requirements, preventing any sharp price escalation, and keeping the market in a cautiously firm but fragile equilibrium.
Europe
• PFY prices in Germany declined by 8.6% QoQ in Q2 2025, pressured by sustained oversupply from Asian imports and subdued downstream demand from the textile sector, despite intermittent supply chain disruptions.
• The supply side remained well-supported by continuous low-cost PFY inflows from China and India, while domestic producers maintained steady operations amidst rising inventory levels and aggressive competition.
• Logistics bottlenecks, such as port congestion at Hamburg and Bremerhaven, provided temporary support to prices in May, but improved handling efficiencies by June neutralized supply-side disruptions.
• Demand from key end-use sectors, particularly apparel and home textiles, remained weak as retail sales stagnated, and converters focused on inventory liquidation rather than fresh restocking.
• Overall, PFY prices in Germany faced persistent bearish pressure throughout Q2, as abundant supply and cautious downstream procurement dynamics outweighed sporadic cost-push and logistical challenges.
Why did the PFY Price Index change in July 2025 in Europe?
• PFY prices in Germany declined in July 2025 as importers benefited from lower offers extended by Asian suppliers attempting to ease domestic oversupply, which translated into softer landed costs for German buyers.
• The seasonal summer slowdown significantly curtailed textile sector activity, with converters reducing production schedules and adopting defensive procurement strategies to avoid inventory build-up.
• Despite lingering port congestion in parts of Northern Europe, proactive inventory management and alternative routing strategies ensured stable supply availability, negating any upward pressure on prices.
• Weak retail demand and persistent consumer spending restraint further dampened buying interest across the textile value chain, forcing suppliers to offer discounts and adjust prices downward to maintain market liquidity.
APAC
• PFY prices in China declined by 5.1% QoQ in Q2 2025, driven by prolonged oversupply conditions and subdued demand across domestic and export markets, despite intermittent cost-push support from upstream PTA volatility.
• Supply-side dynamics remained loose, with Chinese manufacturers operating at reduced rates to curb inventory build-up, though consistent feedstock availability and stable production costs prevented any material supply disruptions.
• Logistics ran smoothly with no significant port congestions or distribution hurdles, while competitive pressures from aggressive supplier discounts intensified price erosion, particularly in April.
• Downstream demand from textile sectors remained weak, with U.S. tariffs suppressing export orders and domestic buyers maintaining cautious procurement strategies, focusing on minimal stock levels amid trade uncertainty.
• Overall, Q2 saw persistent bearish sentiment in the PFY market, with price recoveries in May quickly offset by lacklustre demand fundamentals, leading to an overall quarterly decline despite temporary supply constraints.
Why did the PFY Price Index change in July 2025 in APAC?
• PFY prices in APAC remained largely stable in July 2025, as supply flows from major producers continued uninterrupted, ensuring sufficient availability despite residual logistical constraints from earlier months.
• While upstream feedstock costs exhibited minor fluctuations, producers refrained from significant price revisions, opting to maintain stable offers amid cautious demand sentiment and elevated downstream inventories.
• Downstream sectors, particularly textile converters and fabric mills, avoided bulk procurement, adopting a hand-to-mouth purchasing strategy as end-user demand remained tepid, limiting any substantial uplift in PFY consumption.
• With no pronounced cost-driven pressures and downstream buyers exercising purchasing restraint, the APAC PFY market hovered within a narrow price band, where stability reflected a cautious equilibrium between ample supply and lacklustre demand rather than any structural shift in market fundamentals.
For the Quarter Ending March 2025
North America
The North American Polyester Filament Yarn (PFY) market recorded a marginal 1.0% decline in Q1 2025 compared to the previous quarter, amid ongoing global uncertainties and regional supply chain disruptions. Early in the quarter, prices rose as buyers accelerated purchases in anticipation of proposed 10% tariffs on Chinese imports. Reduced production ahead of the Chinese Lunar New Year also spurred stockpiling amid concerns of potential supply shortages. Severe winter weather disrupted logistics along the East and Gulf Coasts, contributing to short-term supply tightness.
As the quarter progressed, PFY prices remained firm, supported by higher import costs, and resumed Chinese shipments post-holiday. While ocean freight rates declined, elevated tariffs kept landed costs high. Some domestic supply disruptions—stemming from staff shortages, wildfires in California, and extreme weather—also supported price increases. Demand from the textile sector remained moderate, largely focused on replenishing inventories.
However, the quarter ended with renewed price pressure as uncertainty around proposed U.S. port fees on Chinese vessels dampened buying interest. PFY CFR Texas closed at USD 1150 /MT, reflecting cautious sentiment and logistical concerns.
APAC
The Asia-Pacific Polyester Filament Yarn (PFY) market recorded a modest 0.5% quarter-on-quarter price increase in Q1 2025. At the start of the quarter, prices climbed due to reduced production and ongoing maintenance at several plants, which tightened supply. Higher feedstock PTA costs and active pre-Spring Festival procurement by downstream industries further supported the upward momentum. However, as the quarter progressed, sentiment weakened. A 10% tariff imposed by the U.S. on Chinese textile exports led to trade order cancellations, particularly in mid-to-lower-end segments. Seasonal softness in the weaving industry and rising inventories also limited PFY uptake. By quarter-end, downstream demand remained muted despite efforts by manufacturers to stabilize prices through coordinated production cuts. Most buyers had already completed restocking earlier in the quarter, prompting limited purchasing activity. Cautious sentiment among textile processors and subdued export demand added to the slowdown in transactions. Nevertheless, PFY FOB Shanghai prices closed at USD 920/MT, reflecting a net quarterly gain driven by strong early-quarter fundamentals.
Europe
The European Polyester Filament Yarn (PFY) market declined by 1.89% in Q1 2025 compared to Q4 2024, primarily due to weakened demand and rising competitive pressure from imports. At the beginning of the quarter, prices rose slightly as European buyers, particularly in Germany, increased purchases to secure material ahead of the Chinese Lunar New Year. This early stockpiling was driven by reduced production in Asia and expectations of delayed shipments. Mid-quarter, the European PFY market saw cost support from rising feedstock and energy prices. Despite this, supply remained ample as Chinese suppliers resumed post-holiday exports, sending steady volumes to Europe. However, demand from the textile sector stayed moderate, largely driven by cautious inventory restocking rather than new order growth. The quarter closed at USD 1110/MT CFR Hamburg as competitive Asian imports flooded the market amid U.S. trade policy uncertainties. With German manufacturers well-stocked and high interest rates dampening textile demand, procurement limited to immediate needs drove the quarterly decline despite earlier cost pressures.
For the Quarter Ending December 2024
North America
The North American Polyester Filament Yarn (PFY) market faced an 11% decline in Q4 2024 compared to Q3, driven by a combination of weak global market conditions and regional logistical challenges. At the start of the quarter, PFY prices in the U.S. declined, reflecting the bearish trend in China, the region's primary supplier. Falling Purified Terephthalic Acid (PTA) prices, rising inventories, and lacklustre demand in China directly influenced U.S. pricing. Additionally, reduced freight costs from North China to the U.S. East Coast added downward pressure.
However, as the quarter progressed, demand from the downstream textile sector showed some positivity due to improved consumer confidence following Federal Reserve interest rate cuts, logistical disruptions caused by Longshoreman strikes and hurricane-related port bottlenecks hindered smooth product circulation.
By December, PFY supplies in North America remained adequate despite persistent challenges, including high transpacific freight rates and equipment shortages at West Coast ports. The quarter-end price for PFY CFR Texas was reported at USD 1,220/MT, reflecting subdued demand, seasonal year-end destocking, and cautious procurement trends. Market participants remain wary of potential cost escalations in 2025, driven by elevated shipping rates and tariff adjustments.
APAC
The Polyester Filament Yarn (PFY) market in the APAC region saw a 4% decline in Q4 2024 compared to Q3, driven by weak demand, rising inventories, and unfavourable export conditions. Early in the quarter, PFY prices dropped because of declining feedstock Purified Terephthalic Acid (PTA) prices and increased operational rates at polyester plants, leading to supply surpluses. Additionally, adverse weather conditions, including Typhoon Yagi and Typhoon Bebinca, disrupted logistics, further compounding market challenges. Mid-quarter, however, a slight uptick was observed. Falling temperatures boosted domestic consumption, particularly for thermal fabrics, while resilient U.S. demand and an improved inventory cycle fuelled export demand. This temporary rebound did little to offset the broader trend of weak market conditions, as seasonal factors failed to trigger the recovery seen in the same period last year. By the end of Q4, PFY demand remained sluggish, with downstream textile plants focusing on existing inventory and reducing raw material procurement. The quarter-ending price for PFY FOB Shanghai stood at USD 908/MT, reflecting steady price declines throughout the quarter, driven by destocking and stagnant downstream activity.
Europe
The European Polyester Filament Yarn (PFY) market recorded a 12% decline in Q4 2024 compared to Q3, as demand remained subdued amidst challenging economic conditions and seasonal headwinds. Early in the quarter, PFY prices in faced downward pressure due to declining feedstock Purified Terephthalic Acid (PTA) prices in China, the region's primary export supplier. Rising inventory levels in China, coupled with lower-than-expected global demand, amplified the bearish trend in European markets. Midway through the quarter, stable PFY supplies contrasted with muted textile demand. Downstream buyers limited purchases to immediate needs, leveraging discounted prices to prepare for January demand. Despite this, market sentiment remained cautious, dampened by ongoing port congestion in Hamburg due to terminal upgrades, and looming cost pressures from the EU's upcoming expansion of the Emissions Trading System (ETS) in 2025. By quarter-end, PFY demand declined further due to year-end destocking and seasonal procurement slowdowns. The quarter-ending price for PFY CFR Hamburg stood at USD 1,150/MT, reflecting steady price declines throughout Q4, driven by cautious market activity, weak demand, and rising cost concerns for 2025.
For the Quarter Ending September 2024
North America
In Q3 2024, the Polyester Filament Yarn (PFY) market in North America faced a notable decline in prices, indicative of a challenging pricing environment. Prices fell by 6% compared to the same quarter last year, driven by various factors. Declining demand, particularly due to off-season trends in the textile industry, led to oversupply and subsequent price drops. Additionally, maintenance turnarounds at key feedstock plants, such as PTA and MEG, increased production costs, negatively impacting PFY pricing.
The US market remained significantly oversupplied due to extensive destocking by Chinese PFY manufacturers. Despite increased freight costs—up 1% from East Asia to North Europe this week and 25% over the month—the oversupply persisted. Major Chinese producers, including Xin Feng Ming, TongKun, and Hengyi, aggressively discounted PFY to offload excess inventory, reflecting weak downstream demand. Prices were reduced by Yuan 200-350 per metric ton, consistent with the downward trend. In contrast, supplies of polyester yarn were sharply curtailed due to declining operating rates at polyester plants, now around 85.8%, down from 86.2% the previous week and significantly lower than the 93%-94% range seen in July 2023. Typhoon Gaemi further complicated logistics and transportation, while feedstock prices, particularly PTA, fell by about 2.5%. Focusing on the USA, the market recorded a 2% decline from the previous quarter and a 6% drop between the first and second halves of Q3.
The quarter-ending price for Polyester Filament Yarn 150D/48F CFR Texas stood at USD 1,360/MT, underscoring the prevailing bearish sentiment and challenging dynamics in the market.
Europe
In Q3 2024, Polyester Filament Yarn (PFY) prices in Europe experienced a consistent decline due to several key factors. Oversupply in the market, driven by reduced demand in the downstream textile industry, played a significant role in this trend. Additionally, ongoing maintenance at key PTA and MEG plants increased production costs, further pressuring PFY prices downward. Seasonal off-peak demand also negatively impacted market sentiment. The European market saw price depreciation throughout the quarter, largely influenced by improved supply conditions. The German PFY market, heavily reliant on imports from China, felt the effects of price reductions initiated by major Chinese producers like Xin Feng Ming, TongKun, and Hengyi, who aimed to clear excess inventories. In early August, these manufacturers reduced PFY prices by approximately Yuan 200-350 per metric ton, which became evident by mid-August.
Production costs for PFY were not bolstered, as feedstock PTA prices dropped by about 4% in early 2024 due to abundant supplies. In Germany, prices decreased by 2% year-on-year and by 1% from the previous quarter, with a notable 7% drop between the first and second halves of the quarter. The quarter-ending price for PFY in Germany reached USD 1,300/MT, highlighting the prevailing downward trend in the market.
APAC
In Q3 2024, the Polyester Filament Yarn (PFY) market in the APAC region experienced a notable decline in prices, primarily driven by several key factors. China, in particular, saw the most significant price changes, reflecting an overall negative sentiment in the region. Seasonal factors, such as off-season demand and reduced manufacturing activities, contributed to the steady price drop, resulting in a challenging pricing environment for PFY. Excess supplies were prevalent, as major polyester producers in China sought to clear out inventories by offering discounts and promotions. Leading manufacturers, including Xin Feng Ming, TongKun, and Hengyi, reduced PFY prices by Yuan 200-350/MT, corroborating the downward trend in the market. However, supplies of polyester yarn were curtailed as operating rates at polyester plants continued to decline due to sluggish profit margins. When comparing prices to the same quarter last year, there was a substantial decrease of 22%. The quarter-on-quarter change for 2024 also recorded a 3% decline, while the price comparison between the first and second halves of the quarter indicated a significant drop of 9%. By the end of the quarter, the price of Polyester Filament Yarn 150D/48F FOB Shanghai in China settled at USD 935/MT, highlighting the prevailing negative pricing environment in the APAC region.
FAQs
1. What is the current global price trend of Polyester Filament Yarn (PFY) in July 2025?
Globally, PFY prices remained largely stable in July 2025, with regional nuances. In APAC and Europe, prices hovered in a narrow range amid balanced supply-demand dynamics, while in North America, prices saw modest gains driven by precautionary buying ahead of tariffs.
2. Which regions are facing the most supply pressure in the PFY market?
APAC maintains a structurally long supply position due to steady production in China and India, though logistics frictions persist. Europe saw temporary tightness from port congestion and trade policy impacts. North America’s supply remained balanced with consistent imports from Asia.
3. How is downstream demand performing across key PFY-consuming regions?
Downstream demand remained subdued across most regions. In APAC, U.S. tariffs and soft domestic orders kept textile sector procurement tepid. North America saw cautious restocking linked to tariff hikes but lacked robust end-user demand. Europe’s demand was sluggish, with converters operating hand-to-mouth.
4. What is the short-term outlook for PFY prices globally?
PFY prices are expected to stay within a stable to slightly firm range in the near term. While APAC and Europe are likely to see muted price movements amid cautious demand, North America could witness mild upward pressure from tariff-led buying.
