SunSirs: Adequate Supply and Weak Demand have Led to a Significant Decline in China EVA Market

https://www.chemnet.com   Jul 18,2024 SunSirs

Recently (7.9-7.17), the domestic EVA market has experienced a significant decline. According to the Commodity Market Analysis System of SunSirs, as of July 17th, the benchmark price of EVA in China was 10,083 yuan/ton, a decrease of 8.05% from 10,966 yuan/ton on July 9th.

Recently (7.9-7.17), the production of EVA equipment in China has slightly decreased to around 72%. The market supply pressure has slightly eased. The raw material ethylene market is steadily rising, and the cost of EVA continues to be supported. As of July 17th, the price of ethylene in the East China market has slightly increased to around 7,550 yuan/ton, while the price of vinyl acetate remains around 5,850 yuan/ton.

From the perspective of demand side, the EVA terminal industry has been operating weakly recently. Although the price of EVA has fallen to a low level in recent years, more than 70% of domestic petrochemical plants still have sufficient supply, and the overall improvement on the demand side may not be significant. Traditional downstream industries such as foam shoe materials and cables and wires are gradually entering the off-season, which provides weak support for EVA. The consumption of photovoltaic materials is average, and the overall demand for EVA is difficult to effectively boost, resulting in sluggish market transactions.

Overall, the price of raw material ethylene has slightly increased, which still provides some support for the EVA market. EVA production has decreased, but the supply side is still relatively sufficient, and the demand side has weak support for short-term rigid demand. Overall, it is expected that EVA spot prices will consolidate at a low level in the short term.

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