I. Market Focus
Prior to the holiday, the mainstream trading price in the Wuhai region was quoted at 2,650 RMB/ton. During the National Day holiday, the mainstream trading quote in the Wuhai region dropped to 2,400 RMB/ton. The market is expected to remain stable today.
Supply and Demand: Before the holiday, domestic calcium carbide prices declined, with the mainstream trading price in the Wuhai region falling to 2,650 RMB/ton. Production enterprises experienced smooth shipments. Recently, the impact of orderly electricity usage restrictions in Inner Mongolia on production has diminished, leading to increased market supply. However, logistical pressures have intensified shipment difficulties for enterprises. During the National Day holiday, calcium carbide prices continued to fall, logistical contradictions became prominent, upstream shipping bottlenecks worsened, and ex-factory prices for calcium carbide maintained a downward trend.
Cost Side: Yesterday, semi-coke transactions in the Shaanxi region remained stable. Transaction prices at some Shaanxi Coal Group mines declined significantly, weakening cost support for semi-coke. Market sentiment largely followed coal price fluctuations. Considering that Shaanxi Coal’s Hongliulin mine still had auctions scheduled before the holiday, which provided market guidance, wait-and-see attitudes intensified. In the short term, the semi-coke market is expected to remain primarily stable.
II. Market Prices
| Price Type | Product Name | Specification/Model | Standard/Process/Application | Market Name | Pricing Terms | 2026/09/24 | 2026/09/30 | Change | % Change | Unit | Remarks |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Price | PVC | SG-5 | East China | Warehouse Ex-Works (Cash) | 4790 | 4980 | 190 | 3.97% | RMB/ton | ||
| Market Price | 1,4-Butanediol | East China | Acceptance Delivered Price | 10150 | 10300 | 150 | 1.48% | RMB/ton | |||
| Market Price | Vinyl Acetate | East China | Market Price | 7775 | 7875 | 100 | 1.29% | RMB/ton | |||
| Market Price | PVC Paste Resin | Glove Grade | Microsuspension Process | Jiangsu | Delivered Price | 7100 | 7100 | 0 | 0% | RMB/ton | |
| Market Price | Semi-coke | Medium Lump | Shaanxi | Market Price | 1120 | 1120 | 0 | 0% | RMB/ton | ||
| Market Price | Calcium Carbide | Shandong | Delivered Price | 3030 | 3030 | 0 | 0% | RMB/ton | |||
| Market Price | Raw Salt | Sea Salt | Shandong | Self-Pickup Price | 205 | 205 | 0 | 0% | RMB/ton | ||
| Market Price | Caustic Soda | 32% Membrane Alkali | Wet Ton Price - Industrial Grade | Shandong | Market Price | 632 | 621 | -11 | -1.74% | RMB/ton | |
| Market Price | Calcium Carbide | Wuhai | Ex-Factory Self-Pickup | 2725 | 2675 | -50 | -1.83% | RMB/ton | |||
| Market Price | Liquid Chlorine | Shandong | Self-Pickup Price | 400 | 100 | -300 | -75% | RMB/ton |
III. Market Outlook
Before the holiday, the mainstream trading price for calcium carbide in Wuhai fell back to 2,650 RMB/ton. The core driver was the marginal weakening of capacity constraints imposed by orderly electricity usage policies in Inner Mongolia, leading to increased market supply. Combined with logistical pressures, this heightened the burden on enterprises to move inventory. Additionally, successive declines in semi-coke prices loosened cost support, driving the calcium carbide market downward. During the National Day holiday, logistical contradictions intensified, and hindered external sales from upstream suppliers further dragged down prices, causing the mainstream trading price in Wuhai to continue probing lower to 2,400 RMB/ton. Currently, losses for calcium carbide producers are deepening, and the overall market is expected to maintain a stable, wait-and-see posture today.
IV. Today's Macro News
◎ The People's Bank of China will conduct a 1.2 trillion RMB three-month outright reverse repo operation on October 8.
◎ At the end of September, China's gold reserves stood at 77.47 million ounces, an increase of 740,000 ounces month-on-month, marking the central bank's 23rd consecutive month of increasing gold holdings. China's foreign exchange reserves totaled $3.400251 trillion, a decrease of $38.074 billion compared to the end of August.
◎ EU Commissioner for Trade and Economic Security Valdis Dombrovskis will visit Beijing. In June this year, China and the EU established a trade and investment consultation mechanism, comprising four working areas: trade and investment balance, export controls, intellectual property rights, and WTO reform.
◎ On October 3, Foreign Ministry spokesperson Guo Jiakun stated that strategic leadership through head-of-state diplomacy is the most important political guarantee for the steady and long-term development of China-Russia relations. China welcomes President Putin's attendance at the APEC Economic Leaders' Informal Meeting scheduled for November this year in Shenzhen, and is willing to work with Russia to jointly achieve fruitful outcomes for the "China Year" of APEC.
◎ On October 1, Lan Fo'an, Party Secretary and Minister of Finance, published a signed article titled "Precisely and Effectively Implementing a More Proactive Fiscal Policy" in Issue 19 of Qiushi magazine (2026). The article mentioned that targeted incremental policies should be studied and formulated, with greater emphasis on expanding effective domestic demand.
◎ On October 4 local time, the US President announced the establishment of a "Superintelligence Task Force" responsible for coordinating relevant federal government efforts in the field of superintelligence.
◎ Tensions in the Middle East escalated again. On October 3 local time, Yemen's Houthi movement issued a statement saying that in response to Saudi airstrikes on Sana'a and other regions of Yemen, they used multiple ballistic missiles and drones to strike targets belonging to Aramco located in Riyadh, the capital of Saudi Arabia.
◎ US nonfarm payrolls unexpectedly came in weak in September, rising by 29,000 jobs against expectations of 90,000. The previous figure was revised to show an increase of 162,000 jobs.
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