SunSirs: China EVA Market slightly Consolidated Recently,

https://www.chemnet.com   Oct 17,2024 SunSirs

Recently (10.1-10.16), the domestic EVA market atmosphere has rebounded and the market has slightly improved. According to the Commodity Market Analysis System of SunSirs, as of October 16th, the benchmark price of EVA in China was 10,300 RMB/ton, an increase of 1.64% from 10,133 RMB/ton on October 1st. The price of EVA raw material vinyl acetate has risen, with some cost support. EVA manufacturers have made firm offers, and the market sentiment of pushing up prices still exists, but downstream consumers are slightly resistant to high priced goods.

Recently (10.1-10.16), domestic EVA plant construction has been at a high level of over 80%, and market supply pressure still exists. The price of raw material ethylene remains stable, while the price of vinyl acetate rises, and the cost support of EVA strengthens. As of October 16th, the price of ethylene in the East China market remained around 7,200 RMB/ton, while the price of vinyl acetate increased by 200 RMB/ton to around 5,700 RMB/ton compared to before the holiday.

From the perspective of demand side, the EVA terminal industry has been stable and weak recently. After the holiday, downstream customers tend to stock up on demand, with the main downstream photovoltaic stocking being carried out step by step, resulting in average 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 is still at a high level, and supply pressure still exists; The demand side urgently needs support in the short term. Overall, it is expected that the short-term EVA spot market will mainly experience narrow consolidation.

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