Behind the exchange. Zhengzhou has settled 2 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 3 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 4 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 5 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 6 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Polyester staple fibre less the 0.855 tonnes of PTA in each tonne of it, on the same trading day. What is left to pay for the glycol, the spinning of the fibre and the margin.
2,876 CNY per tonne ↑ 0.43%
Settled 2026-11-02
Against a week ago (2026-10-26): ↑ 5.96%
Against a month ago (2026-09-23): ↑ 1.76%
Against a quarter ago (2026-07-24): ↑ 15.57%
What this is not. This is not a margin. Polyester is made from PTA and MEG (glycol), and MEG is not in this figure: 0.335 t of it goes into each tonne of fibre, roughly a quarter of the raw material cost. Subtract that before comparing with a quoted PSF margin. Read the direction, not the level.
80 observations held, 2026-07-06 to 2026-11-02.
The polyester chain, oil to fibre
Crude makes paraxylene, paraxylene makes PTA, PTA and glycol make polyester. The spreads between the steps show which link is being squeezed. Each figure is the latest its source has published, on its own date.
| Step | Latest | Unit | On | Move |
|---|---|---|---|---|
| Brent crude | 102 | US dollars per barrel | 2026-09-01 | ↑ 15.84% |
| Paraxylene | 9,508 | CNY per tonne | 2026-11-02 | ↓ 2.08% |
| PTA margin | 450 | CNY per tonne | 2026-11-02 | ↑ 73.21% |
| PTA | 6,678 | CNY per tonne | 2026-11-02 | ↑ 0.88% |
| Polyester staple over PTA | 2,876 | CNY per tonne | 2026-11-02 | ↑ 0.43% |
| Polyester staple fibre | 8,586 | CNY per tonne | 2026-11-02 | ↑ 0.73% |
| US dollar in yuan | 6.6483 | CNY per USD | 2026-11-02 | ECB reference rates |
Where these figures come from
- Polyester staple fibre (China, futures settlement) — Zhengzhou Commodity Exchange, contract PF612, observed 2026-11-02. the day's published table
- PTA (China, futures settlement) — Zhengzhou Commodity Exchange, contract TA701, observed 2026-11-02. the day's published table
Read this first. These are settlement prices from the Zhengzhou Commodity Exchange — the Chinese domestic market, in yuan per tonne, for a dated futures contract. They are not Cotlook A, not a world price, and not what a trader paid for a bale this morning. They are carried because China spins more than anywhere else, so the direction is the market’s direction even where the level is not.