Recently, the domestic PVC paste resin market has experienced a modest upward trend. Wuxi High Mountain Hi-Tech Development Co., Ltd. presents an analysis of market conditions, supply and demand dynamics, and future outlook for the period from October 10 to October 15, 2026:

I. Market Overview: Slight Price Gains, High-End Transactions Face Resistance

During this period, mainstream spot prices for domestic PVC paste resin moved slightly higher. As of October 15, average market prices were as follows:

• Leather Grade: The average market price reached approximately 6,866 RMB/ton, representing a slight increase of 19 RMB/ton (a gain of about 0.28%) compared to the same period in the previous week;

• Glove Grade: The average market price reached approximately 7,014 RMB/ton, representing a slight increase of 33 RMB/ton (a gain of about 0.47%) compared to the same period in the previous week.

Market dynamics reflected an ongoing tug-of-war between supply and demand. Driven by rising costs of raw material calcium carbide, production capital pressure increased, prompting several manufacturers to raise quotations. However, downstream processors showed resistance to higher price levels, resulting in slowed high-end spot transactions. Some sellers offered concessions in actual trade executions, pre-sales maintained regular levels, and export orders remained dominated by fixed long-term agreements.

II. Deep Analysis of Key Supply Chain Factors

1. Supply Side: Facility Maintenance Intertwined with Capacity Recoveries, Inventories Remain Ample

   • Facilities involving approximately 320,000 tons of capacity underwent routine maintenance during the week, while plants with previously reduced loads resumed standard production;

   • As of October 15, operating capacity for the PVC paste resin sector stood at approximately 1.095 million tons, with weekly output estimated at 21,100 tons, maintaining an industry operating rate around 61.70%;

   • Although weekly output contracted slightly, overall spot supply was not significantly restricted due to sufficient industry inventories.

2. Cost Side: Raw Material Prices Strengthen, Industry Profitability Constrained

   • Ethylene-Method: Elevated prices for raw ethylene kept vinyl chloride monomer (VCM) quotations firm. Ethylene-method producers relying on merchant VCM continued operating under cost pressures, though slight spot price increases helped restore margins modestly;

   • Carbide-Method: Continuous price increases for calcium carbide drove up production capital costs for carbide-method PVC paste resin, narrowing profit margins;

   • Overall, the cost side demonstrated strong support during the week, though industry profitability remained subdued.

3. Demand Side: Downstream Caution Prevails, Purchasing Confined to Immediate Needs

   • Downstream finished goods inventory moved slowly, and a lack of positive indicators in terminal demand led to dominant cautious sentiment;

   • Downstream manufacturers primarily sought lower-priced lots for hand-to-mouth restocking, showing insufficient momentum to chase price increases, while export demand lacked significant expansion.

III. Future Market Outlook

Looking ahead, the PVC paste resin market is expected to navigate a dual influence of weakening cost support and subdued downstream demand:

• Supply Projection: As facilities undergoing maintenance gradually resume operation, market production is expected to increase, maintaining a loose supply environment.

• Raw Material Trends: Off-peak power restrictions in Inner Mongolia are gradually easing, and maintenance facilities in Ningxia are expected to resume production, bringing anticipated growth in calcium carbide supply. With limited growth in calcium carbide demand, raw material prices are expected to trend steadily downward, alleviating cost pressures for carbide-method producers. Simultaneously, increased VCM supply may pressure monomer pricing, lowering production costs for ethylene-method producers.

• Demand Projection: Downstream demand for leather-grade resin is expected to remain focused on hand-to-mouth restocking with low probability of large-volume procurement. Downstream profitability for glove-grade resin remains weak, limiting demand growth.

• Overall Forecast: Lacking upward momentum, raw material prices may trend downward, easing production cost pressures while continuing to provide a baseline floor that limits steep price declines. Given downstream resistance to higher price levels and shipping friction, room for price negotiation is likely to expand. The PVC paste resin market may experience a modest downward adjustment, with anticipated price reductions in the range of 50–100 RMB/ton.

Wuxi High Mountain: Global PVC Paste Resin Supply Chain Services

As a specialized supplier of polymer materials and industrial chemicals, Wuxi High Mountain Hi-Tech Development Co., Ltd. closely monitors global market trends for PVC paste resin (including leather grade and glove grade specifications). We are committed to providing clients with reliable spot availability and flexible international logistics solutions to help downstream manufacturers navigate market fluctuations and optimize procurement costs.

• Official Website: www.wxhmchem.com

• Russian Market Platform: www.highmountainchemru.com

• Business Contact: Mr. Fan (+86-13382223993)

• Office Line: +86-510-85881876

• E-mail: sales1@wxhmchem.com / Harold2@high-mountain.cn