On May 13, the grey fabric price list at Zhili Cotton City presented a rare 'all-flat' scenario: from cotton grey to rayon grey, from T/R gabardine to cotton-spandex stretch fabrics, every specification showed zero price change between May 10 and May 13. This uniform stillness, in an industry accustomed to frequent fluctuations, is itself a strong signal.
Supply-Demand Logic Behind Price Stagnation
The latest quotation covers nine major categories including cotton, rayon, T/R, T/C, cotton-spandex stretch, cotton corduroy, cotton denim, linen-viscose blends, and cotton bedding fabrics, spanning over 50 specifications. Among them, cotton grey fabrics range from 16x16 to 40x40 counts with widths from 45 inches to 67 inches, priced between 5.55 yuan/meter and 8.65 yuan/meter, all unchanged from the previous session.
Notably, the combed cotton series—typically representing higher quality and pricing power—also remained static. The 40x40 133x100 63-inch down-proof fabric was quoted at 8.55 yuan/meter, identical to May 10. Down-proof fabric is a key input for home textiles and down jackets; its price flatness implies that brand orders have yet to pick up.
The rayon grey segment was no exception. The 30x24 68x44 67-inch crepe fabric remained at 5.55 yuan/meter, while the 30x30 68x68 50-inch variant held at 5.00 yuan/meter. Rayon grey prices are usually more sensitive to upstream viscose staple fiber movements, and their stability suggests a lack of directional change in raw material costs.
Industrial Belt Response: Weaving Mills Under Pressure, Traders Cautious
Zhili, as a major cotton fabric distribution hub in China, directly reflects the supply-demand balance of the Yangtze River Delta weaving cluster. Three consecutive days of flat pricing, from an industry analysis perspective, means that weaving mills have neither the incentive to raise prices (downstream rejection) nor the willingness to cut them (cost support).
Behind this is a tug-of-war along the supply chain: mills are holding high-cost raw material inventories from earlier procurement, and price cuts would directly erode margins. Meanwhile, garment factories and home textile companies, facing sluggish end-consumer demand, are adopting a 'buy-as-needed' procurement strategy. In this round, cotton bedding fabric (30x30 76x68 116-inch first grade) was quoted at 9.90 yuan/meter, and combed cotton bedding fabric (40x40 133x98 98-inch first grade) at 11.70 yuan/meter, both unchanged. Home textile channel restocking usually leads the apparel season; the stagnation here hints that the upcoming summer bedding replenishment may fall short of expectations.
Outlook: Consolidation More Likely Than a One-Sided Decline
Despite the price freeze, the industry's public data point of 'rising sales volume' deserves attention. An increase in sales typically signals inventory digestion, which is a prerequisite for price stabilization or even recovery. However, if the volume is driven by traders building speculative positions rather than genuine end-use consumption, a second round of destocking risk remains.
From a product mix perspective, T/C grey fabrics (T65/C35 45x45 133x94 63-inch at 6.95 yuan/meter) and T/R grey fabrics (T80/R20 45x45 110x76 63-inch at 5.40 yuan/meter) also held steady. The cost structure of blended fabrics is more influenced by PTA and polyester staple fiber; their stability suggests a lack of dramatic movements in upstream petrochemical raw materials.
Overall, the Zhili grey fabric market is likely to enter a 'narrow consolidation' phase in the short term: upward movement is capped by weak demand, while downward movement is supported by costs. The real directional signal may not emerge until early June, when summer orders wind down and autumn/winter sampling begins.