SunSirs: Cost Support, China EVA Market was Stable and slightly Rising in August

https://www.chemnet.com   Sep 02,2024 SunSirs

The domestic EVA market remained stable with a slight increase in August. According to the Commodity Market Analysis System of SunSirs, as of August 30th, the benchmark price of EVA in China was 10,233 RMB/ton, an increase of 1.49% compared to 10,083 RMB/ton on August 1st.

EVA production first rebounded and then declined. At the beginning of the month, domestic EVA plant production was around 63%, increased to 81% in the middle of the month, and slightly decreased to 78% at the end of the month. Limited supply pressure within the month; In the second half of August, the factory price of EVA gradually increased slightly, driving the market to rise slightly. In addition, the price of raw material ethylene remained strong in the early stage of August and fell at the end of the month, which provided some support for EVA costs during the month. As of August, the domestic price of ethylene in Sinopec East China was 7,650 RMB/ton, which rose to 7,700 RMB/ton in early August and was lowered to 7,550 RMB/ton in late August.

On the demand side, EVA terminal enterprises stocked up on demand in August. The demand for foam shoe materials and traditional industries such as cables and wires is relatively weak. Photovoltaic materials are stocked as needed. The actual trading volume of EVA market is flat.

Overall, the prices of EVA raw materials ethylene and vinyl acetate will slightly decrease by the end of the month, and the cost will weaken in the face of EVA support. But currently, the strong supply prices from manufacturers provide some support for the EVA market. The short-term support for EVA demand side is still weak. It is expected that the EVA market will experience a narrow consolidation in the later stage.

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