SunSirs: China EVA Market has a Significant Decline in Production, with the Market Situation Stabilizing temporarily

https://www.chemnet.com   Jul 30,2024 SunSirs

Recently (7.17-7.29), the domestic EVA market has stopped falling and is temporarily stable. According to the Commodity Market Analysis System of SunSirs, as of July 29th, the benchmark price of EVA in China is currently stable at 10,083 RMB/ton.

Recently (7.17-7.29), the production of EVA equipment in China has significantly decreased to around 63%. The market supply pressure has eased to some extent. 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 7,650 RMB/ton, while the price of vinyl acetate has slightly decreased by around 5,750 RMB/ton.

From the perspective of demand side, the EVA terminal industry has been operating weakly recently. The production of domestic petrochemical EVA units has dropped to around 6.3%, while the overall demand side is still weak. Traditional downstream industries such as foam shoe materials and cables and wires are gradually entering the off-season market, 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.

Future forecast: Overall, the price of raw material ethylene has slightly increased, but the price of vinyl acetate has decreased, which still provides some support for the EVA market. The expected pressure on the supply side has eased due to the decrease in EVA production, 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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