Entering March, the divergence in China's polyester market has become increasingly evident. The cash flow of various varieties has fluctuated and remained unstable, but only polyester filament has stood out, serving as the "ballast stone" for the entire industry's profits. Among them, the performance of polyester POY has been particularly eye-catching. The average cash flow in March was close to 400 yuan per ton, and at its peak, it even reached 900 yuan per ton, almost breaking through the 1,000-yuan mark. Such a profit level is rare in the current sluggish environment of the polyester industry. 

Geopolitical tensions and the pressure of raw material costs are being passed on throughout the entire supply chain. 

The recent fluctuations in polyester raw material prices are mainly influenced by the geopolitical situation in the Middle East. Besides the ongoing tension in Iran, the United States has also recently stepped up its blockade of the Strait of Hormuz. It is worth noting that this strait is a major artery for global crude oil transportation. If the blockade persists for a long time, the stability of the global crude oil supply chain will undoubtedly be affected. Although the domestic energy supply is still relatively stable and there has been no obvious shortage in the short term, the cost pressure brought about by the increase in crude oil prices has been passed on to every link in the polyester industry chain. Industry insiders generally believe that there is no need to overdevelop the market and overdraw the industry's potential for short-term profits. 

Factory strategies are diverging, with a game of offering discounts for volume versus maintaining prices and controlling production. 

Facing the tug-of-war between cost pressure and market demand, the differentiation among polyester factories is becoming increasingly pronounced. Some factories choose to proactively offer discounts to move inventory, attracting downstream purchases through moderate price cuts, achieving a daily sales rate of even 300% and relying on high turnover to recover funds. However, many others opt to hold firm, adhering to a price-holding strategy by reducing production capacity utilization and controlling the pace of shipments to safeguard the price floor and prevent the expansion of losses. Both approaches have their considerations, making the current price trend in the polyester market even more enigmatic. 

Logistics costs have soared, with quotations for the Persian Gulf route approaching 10,000 yuan.

To make matters worse, logistics costs have also been rising continuously in recent times. Starting from this week, the quoted price for some 40-foot containers sent to the Persian Gulf countries via the "sea + land" mode has exceeded 8,000 US dollars, just one step away from "breaking 10,000". Geopolitical conflicts have led to blocked shipping routes and detours for vessels, and the increase in crude oil prices has pushed up fuel costs. The pressure on the logistics end has further intensified, undoubtedly adding more cost pressure to the export of polyester and downstream textile products. Many foreign trade enterprises have begun to pay attention to the impact of this change. 

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