PVC Daily Review: Risk Aversion Drives Continued Price Rise

1. Today’s Summary

Domestic PVC producers increased prices by 40-100 yuan/ton.

② Jiyuan Fangsheng’s facility commenced a 10-day maintenance shutdown, while Yantai Wanhua’s facility began a maintenance shutdown lasting over half a month.

③、 In February 2026, China's Manufacturing Purchasing Managers' Index (PMI) stood at 49.0%, the Non-Manufacturing Business Activity Index was 49.5%, and the Composite PMI Output Index was 49.5%.

2 Spot Market Overview

Based on the Changzhou market in East China, the spot ex-warehouse price for Type 5 calcium carbide-based PVC in East China today is RMB 4,770 per ton, up RMB 90 per ton from the previous day. 。

The domestic PVC spot market is experiencing a fluctuating upward trend. Affected by cost factors and the uncertainty of upstream raw material supply, the prices of derivatives continue to rise. The sellers are reluctant to sell PVC at low prices, and the spot prices are all showing an upward trend. In the East China region, the cash and warehouse delivery prices for the five-type calcium carbide method are in the range of 4700-4840 RMB/ton, while those for the ethylene method are in the range of 4900-5100 RMB/ton.

3. Basis between futures and spot

Table 2 Basis of Major Delivery Locations (Yuan/Ton)

4. Price forecast

5. Related products

Calcium Carbide ：In the Wuhai region, mainstream trading prices for calcium carbide remain weak at RMB 2,100 per ton, with downstream purchase prices also gradually declining amid ample market supply. 。

Ethylene ：CFR Northeast Asia 780 USD/ton up 30 USD/ton, CFR Southeast Asia 760 USD/ton up 20 USD/ton. Affected by cost and expectation of supply tightness, ethylene prices remain in an upward trend. 。