Summary: During the week of February 13–26, 2026, the PVC paste resin market transitioned smoothly with stable transaction focuses. Despite high inventory levels and currently weak demand, the onset of the seasonal peak and strong pre-sale orders are encouraging manufacturers to hold prices firm.

1. Market Overview

Price movements remained minimal throughout the week as the market sought equilibrium.

• Price Update: Average market prices for Leather Grade and Glove Grade remained flat at 6,533 RMB/ton and 6,574 RMB/ton respectively.

• Supply-Demand Status: High industry inventories persist due to previous holiday transport disruptions. Currently, enterprises are focusing on fulfilling pre-orders, with schedules extending into mid-March.

2. Supply Chain Analysis

• Costs: While VCM prices consolidated, declining Calcium Carbide prices weakened overall cost support. However, actual transaction prices remained resilient, supporting healthy profit margins.

• Supply: Production facilities operated steadily, maintaining a strong supply of goods in the market.

• Demand: Downstream recovery in leather and glove sectors is progressing slowly, with procurement limited to hand-to-mouth replenishment.

3. Future Outlook

• Feedstock Outlook: Calcium carbide prices are expected to remain weak, easing the cost burden for resin production in the short term.

• Demand Outlook: As the seasonal peak begins, downstream operating rates are expected to rise, leading to improved procurement levels.

• Price Projection: Manufacturers are showing a clear intent to increase quotes. While high inventories will cap rapid gains, we anticipate a modest upward trend of approximately 50 RMB/ton in the coming week.