Daily Review: PVC Paste Resin Market Festive Amid High Prices, Low Trading

On April 30, PVC paste resin market prices remained stable. The average market price for leather-grade PVC paste resin was RMB 7,410 per ton, unchanged from the previous working day; the average market price for glove-grade PVC paste resin was RMB 7,474 per ton, also unchanged from the previous working day. Today, the PVC paste resin market remained largely stable, with mainstream quotations showing little change. Traders maintained steady prices and adopted a wait-and-see approach amid a strong holiday atmosphere, resulting in a quiet market with little actual trading activity. Downstream factories continue to face high finished goods inventory, export shipments are hindered, and terminal demand remains persistently weak. No pre-holiday restocking demand emerged, and transaction activity remains sluggish. PVC paste resin producers are offering negotiable prices on actual orders to secure sales. Calcium carbide-based PVC paste resin producers are operating at full capacity with acceptable profit margins, while ethylene-based PVC paste resin plants are running below 50% capacity and operating at a loss. Overall industry inventory remains high, and the supply-demand imbalance persists.

Price-wise: On April 30, the average price of glove material including tax and freight in East China was around 7,650 yuan/ton, the average price of glove material including tax and freight in South China was around 7,700 yuan/ton, and the average price of glove material including tax and freight in North China was around 7,500 yuan/ton. The average price of leather material including tax and freight in East China was around 7,550 yuan/ton, the average price of leather material including tax and freight in South China was around 7,650 yuan/ton, and the average price of leather material including tax and freight in North China was around 7,500 yuan/ton.

Raw materials: The price of calcium carbide remained low today, and the price of vinyl chloride monomer stayed stable. There was no significant fluctuation in the cost of PVC paste resin.

Supply: PVC paste resin supply is ample, with inventory continuously increasing.

Market forecast: Currently, the downstream shipment pace is slow, making it difficult for finished products to pass on prices downward. Demand remains weak, and PVC paste resin companies are facing increasing inventory pressure, intensifying market pessimism. Export is affected by international geopolitical conflicts, leading to transportation restrictions and difficulty in alleviating domestic supply pressure. In summary, it is expected that the PVC paste resin market will continue to decline after the May Day holiday, with prices expected to drop by 100-200 yuan/ton.