Summary: On March 9, 2026, as the energy crisis fueled by the Middle East conflict intensified, the domestic Paste PVC market witnessed an "epic" single-day surge. Driven by a massive 1,500 RMB/ton hike in Vinyl Chloride Monomer (VCM) and rising calcium carbide costs, both glove-grade and leather-grade Paste PVC soared by approximately 10%. Under the blockade of the Strait of Hormuz, the "cost-push" inflation for chemical raw materials has transitioned from expectation to reality.

1. Market Overview: Daily Surge of 600-700 RMB; Suspension of Offers

On March 9, the Paste PVC market experienced an explosive upward trend with broad price hikes:

• Key Data: The average market price for glove-grade Paste PVC reached 7,348 RMB/ton, up 672 RMB/ton (+10.07%); leather-grade reached 7,281 RMB/ton, up 609 RMB/ton (+9.12%).

• Corporate Actions: In response to volatile raw material costs, several major Paste PVC producers have suspended price offers. Traders are following the market closely, mostly offering "fixed-price" quotes while maintaining a cautious stance.

2. The Cost Logic Under Conflict: VCM at the Eye of the Storm

The surge in Paste PVC is primarily driven by geopolitical-induced energy cost spikes:

1. VCM Skyrocketing: Influenced by high international crude and naphtha prices, VCM prices jumped by 1,500 RMB/ton today. For enterprises relying on outsourced VCM, production costs have increased exponentially.

2. Calcium Carbide Support: Prices for calcium carbide remain firm, further strengthening the cost floor.

3. Geopolitical Uncertainty: The blockade in the Strait of Hormuz has disrupted energy transport, directly elevating the bottom support for downstream fine chemical products.

3. Regional Price Reference (As of March 9)

• Glove Grade (Delivered): East China 7,450 RMB/ton; South China 7,500 RMB/ton; North China 7,350 RMB/ton.

• Leather Grade (Delivered): East China 7,400 RMB/ton; South China 7,500 RMB/ton; North China 7,300 RMB/ton.

4. Supply-Demand Tussle: Strong Costs vs. Cautious Demand

The market currently exhibits a "cost-driven" rally. While supply remains stable with no major maintenance plans, downstream buyers are showing resistance to high prices, adhering to "just-in-time" purchasing while maintaining a wait-and-see attitude.

5. Future Outlook

Wuxi High Mountain analyzes that due to the ongoing international turmoil, the cost side remains highly uncertain. Given the strong momentum in VCM and calcium carbide, Paste PVC prices are expected to continue their upward trajectory On March 10, 2026, with a projected increase of 500-1,000 RMB/ton.