SunSirs: China EVA Market has seen a Slight Consolidation recently

https://www.chemnet.com   Sep 11,2024 SunSirs

Recently (9.1-9.10), the domestic EVA market has seen a slight consolidation. According to the Commodity Market Analysis System of SunSirs, as of September 10th, the benchmark price of EVA in China was 10,266 RMB/ton, an increase of 0.33% from 10,233 RMB/ton on September 1st. The price of EVA raw materials has slightly increased, but the supply and demand are still weak, and the EVA market is mainly consolidating in a narrow range.

Recently (9.1-9.10), the production of EVA equipment in China has risen to around 90%, increasing market supply pressure. The price of raw material ethylene is stable, the price of vinyl acetate is rising, and the cost center of EVA is increasing. As of September 10th, the price of ethylene in the East China market remained around 7,550 RMB/ton, and the price of vinyl acetate increased by 100 RMB/ton from the end of August to around 5,475 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, resulting in sluggish market transactions.

The future forecast shows that the overall increase in the price of raw material vinyl acetate will have a significant impact on the EVA market. EVA production has slightly increased, but supply pressure still exists; In the short term, the demand side has weak support for rigid demand. Overall, it is expected that EVA spot prices will narrow in the short term.

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