On February 11th, the dye related sector continued to strengthen, with Nantong Acetic Acid Chemical Co., Ltd. achieving two consecutive board meetings, Zhejiang Jihua Group Co., Ltd. hitting the daily limit up, and multiple industry stocks following suit. On the evening of February 10th, another dye company, Zhejiang Runtu Co., Ltd. (hereinafter referred to as "Runtu Shares"), also issued a stock price fluctuation announcement due to a significant increase in stock price.
On the news front, the recent increase in dye prices has received widespread market attention. Industry insiders believe that the upward trend in dye prices is difficult to reverse in the short term, or may accelerate the subsequent reshuffle of the industry.
Price may remain high in the short term or remain high
Recently, several dye related companies have released price increase information. The research report released by Zhejiang Longsheng Group Co., Ltd. (hereinafter referred to as "Zhejiang Longsheng") on February 9 shows that the company is a global leader in dyes and textile chemicals. On February 8, 2026, the company adjusted the prices of some varieties of dispersed dyes, and the main product, dispersed black, has seen a cumulative increase of 5000 yuan/ton in recent times.
In its investor relations activity record released on February 9th, Runtu Holdings stated, "The price of the company's dye products follows the market trend, and the price of the company's dispersed dye black has recently risen by about 5000 yuan per ton
The core driving force behind the upward trend in dye prices this round comes from the soaring prices of key upstream intermediate reducing compounds. The price increase of intermediate reducing substances is influenced by factors such as environmental protection, safety policies, enterprise production adjustments, and sustained tight market supply. Runtu Shares stated in the above announcement that reducing agents are one of the more important intermediates for dispersed dyes, and their prices have been running at a low level in the past two years, rising since late January. As of now, the market price of reducing agents is around 70000 yuan/ton.
The subsequent trend of dye prices has also attracted the attention of market participants. Ding Zhenyu, Senior Investment Advisor at Jufeng Investment Consulting, told Securities Daily reporters that due to the oligopolistic trend of core reducing material supply and environmental constraints, new production capacity is also limited. Coupled with the peak season of "Golden Three and Silver Four", the supply gap is difficult to alleviate in the short term, and the current dye price increase is expected to continue until the first half of 2026.
From the demand side, the textile printing and dyeing industry directly downstream of dyes is linked to terminal clothing and home textile consumption. In addition, changes in industry inventory and market sentiment also play a role in fueling dye prices. This round of supply driven price increases is expected to continue for 1-3 months, and will enter a high-level consolidation stage in the future. If there is no significant improvement in terminal demand in the second half of the year, dye prices may gradually return to stability after the fourth quarter, "said Gu Shujing, a dye analyst at Zhuochuang Information, to a reporter from Securities Daily.
Industry reshuffle or acceleration
The current increase in dye prices is influenced by intermediate prices, which will have a significant impact on the industry in the future. The research report released by China Post Securities Co., Ltd. believes that the high cost of raw materials and the increase in environmental protection barriers are expected to accelerate the industry reshuffle.
On the one hand, leading enterprises with intermediate supporting capabilities are expected to further consolidate their market share through cost control and scale advantages, and even expand their leading advantage through the "quantity to price" strategy.
Runtu Group announced on the evening of February 10th that due to the rising prices of reducing agents, the market price of the company's dispersed dyes has slightly increased in recent times, which is expected to have a positive impact on the company's performance in 2026. Zhejiang Longsheng stated in its research report, "The main reason for the price increase this time is the rise in raw material prices. After years of technological and industrial investment, and relying on the integrated industrial layout of intermediates, we believe that the pattern of the dye industry will be further reorganized, and the company's dye production capacity will be further improved
An official from Shanghai Annuoqi Group Co., Ltd. told Securities Daily reporters that the company has an intermediate production base in Yantai, Shandong, which has been built and put into operation. Recently, there has been a certain increase in dye product prices, and the impact on the company will depend on the sustainability of this round of price increases.
On the other hand, small and medium-sized enterprises without supporting intermediates are constrained by the pain points of high raw material procurement prices and weak bargaining power, and may fall into the profit dilemma of "high price procurement, low price sales".
For dye companies without intermediate support, improving performance requires seeking breakthroughs in the following directions. For example, establishing long-term cooperation or equity binding with intermediate suppliers to stabilize procurement costs. At the same time, shifting towards high-end, functional, environmentally friendly dyes and other segmented tracks to avoid homogeneous competition. Through technological improvement and lean management, reducing non raw material costs and buffering external pressure. Gu Shujing believes that the performance improvement of non intermediate support companies relies more on their own strategic adjustment and transformation and upgrading, rather than the overall recovery of the industry.
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