SunSirs: China EVA Market has seen a Slight Upward Trend recently

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

Recently (8.15-8.29), the domestic EVA market has seen a slight upward trend. According to the Commodity Market Analysis System of SunSirs, as of August 29th, the benchmark price of EVA in China was 10,233 RMB/ton, an increase of 0.66% from 10,166 RMB/ton on August 15th.

Recently (8.15-8.29), the production of EVA equipment in China has slightly decreased to a low of around 78%. Market supply pressure still exists. The prices of raw materials ethylene and vinyl acetate have decreased, and the cost center of EVA has also decreased. As of August 29th, the price of ethylene in the East China market remained around 7,550 RMB/ton, while the price of vinyl acetate decreased by around 5,325 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 are stocked as needed. Overall, there is no significant improvement in EVA transactions.

Overall, the prices of raw materials ethylene and vinyl acetate will decrease, which will have a bearish impact on the EVA market. EVA production has slightly decreased, but supply pressure still exists, with weak support for short-term demand on the demand side. Overall, it is expected that EVA spot prices will experience narrow fluctuations in the short term.

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