SunSirs: China EVA Market has Experienced Narrow Fluctuations recently

https://www.chemnet.com   Aug 16,2024 SunSirs

Recently (8.5-8.15), the domestic EVA market has fluctuated narrowly. According to the Commodity Market Analysis System of SunSirs, as of August 15th, the benchmark price of EVA in China was 10,166 RMB/ton, an increase of 0.83% from 10,083 RMB/ton on August 5th.

Recently (8.5-8.15), the production of EVA equipment in China has significantly increased to a low of around 81%. The market supply pressure has increased. The raw material ethylene market has seen a slight increase, while the price of vinyl acetate has significantly decreased, providing weak support for EVA costs. As of August 15th, the price of ethylene in the East China market remained around 7,700 RMB/ton, while the price of vinyl acetate decreased by around 5,400 RMB/ton.

From the perspective of demand side, the EVA terminal industry has been operating weakly recently. Traditional downstream industries such as foam shoe materials and cables and wires have weak demand during the off-season, which weakens the support for EVA. Downstream photovoltaics tend to stock up on demand at low prices, while high priced EVA sources face significant transaction pressure.

Overall, the price of raw material ethylene will slightly increase, but the price of vinyl acetate will decrease, providing weak support for the EVA market. The increase in EVA production has increased the pressure on the supply side, and the demand side is supported by weak demand in the short term. Overall, it is expected that EVA spot prices will remain low and narrow in the short term.

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