Release Date: April 23, 2026

Summary: On April 23, the domestic PVC Paste Resin market remained in a state of consolidation with minor fluctuations. Due to persistent weakness in downstream demand and softening cost support, the market atmosphere remained quiet, with mainstream transaction prices holding steady. Wuxi High Mountain provides this review of today's core market dynamics.

1. Market Overview: Prices Hold Steady Amid Slow Turnover

The PVC Paste Resin market showed limited volatility today, with price centers remaining stable.

• Leather Grade: The average market price stands at 7,527 RMB/ton, unchanged from the previous working day.

• Glove Grade: The average market price stands at 7,645 RMB/ton, unchanged from the previous working day.

Currently, traders are largely following the market trend, though overall transaction activity remains sluggish. Producers are adjusting their quotes flexibly, and actual orders still have room for negotiation and concessions.

2. Core Industrial Chain Analysis

Supply Side: Stable Operating Loads and Output The industry's overall operating rate for PVC Paste Resin is maintained at approximately 65%. Market supply remains stable, and production facilities are running normally.

Cost Side: Feedstock Prices Decline, Profit Margins Diverge

• Calcium Carbide & VCM: Calcium carbide prices saw another downward adjustment today, while the supply of Vinyl Chloride Monomer (VCM) remains stable. Consequently, the capital pressure on PVC Paste Resin costs has contracted.

• Producer Margins: Integrated producers continue to benefit from cost-control advantages, maintaining acceptable profit margins with minimal production pressure. Conversely, producers relying on external feedstock are still facing high cost pressures despite the recent softening, leading to lower operating loads at some facilities.

Demand Side: Weak Intentions and Essential Procurement Terminal demand remains in a weakened state. Downstream manufacturers show low procurement enthusiasm, with purchasing operations strictly limited to meeting immediate, essential needs.

3. Regional Price Summary (April 23 | Tax & Freight Inclusive)

• East China: Glove Grade average at 7,750 RMB/ton; Leather Grade average at 7,650 RMB/ton.

• South China: Glove Grade average at 7,850 RMB/ton; Leather Grade average at 7,750 RMB/ton.

• North China: Glove Grade average at 7,700 RMB/ton; Leather Grade average at 7,550 RMB/ton.

4. Future Outlook: Lack of Catalysts and Potential Narrow Correction

Looking ahead to tomorrow, Wuxi High Mountain anticipates the following:

1. Fundamental Pressure: There are currently no significant positive catalysts for the market. The oversupply logic continues to weigh on price levels.

2. Demand Feedback: Persistent low demand will likely continue to suppress any upward price movement, with a possibility of transaction centers shifting further downward.

3. Projected Adjustment: Given the ample supply and weakening cost support, PVC Paste Resin market prices may undergo a slight downward adjustment tomorrow, with a projected range of 100–200 RMB/ton.