SunSirs: China EVA Market has Slightly Declined Recently

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

Recently (9.20-9.29), the domestic EVA market has been weak and slightly declining. According to the Commodity Market Analysis System of SunSirs, as of September 29th, the benchmark price of EVA in China was 10,133 RMB/ton, a decrease of 0.98% from 10,233 RMB/ton on September 20th. The price of EVA raw material ethylene has fallen, coupled with weak demand, resulting in a narrow consolidation of the EVA market.

Recently (9.20-9.29), domestic EVA plant construction has slightly decreased but still maintained a high level of over 80%, indicating that market supply pressure still exists. The price of raw material ethylene has significantly decreased, the price of vinyl acetate has slightly adjusted, and the cost support for EVA has weakened. As of September 29th, the price of ethylene in the East China market has decreased by 200 RMB/ton to around 7,200 RMB/ton compared to September 20th, while the overall price of vinyl acetate remains around 5,500 RMB/ton.

From the perspective of demand side, the EVA terminal industry has been operating weakly recently. A small amount of inventory was stocked before the National Day holiday, and overall market transactions were not high. Under the overall high supply and low demand situation, the EVA market was mainly under pressure.

Overall, the decrease in raw material ethylene prices will have a bearish impact on the EVA market. EVA production is still at a high level, and 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 continue to consolidate weakly in the short term.

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