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SunSirs: China EVA Market Continued to be Weak at the end of June
July 01 2021 14:57:34SunSirs(Selena)

According to the data monitoring of SunSirs, the average price of domestic EVA was 18,800.00 RMB/ ton on June 27 and 18,700.00 RMB/ ton on June 30, with a decrease of 0.53% during the period and 4.92% compared with June 1. At the end of June, the weakness of EVA market was hard to change, and the ex-factory price and market quotation continued to fall.

Near the end of June, EVA market lacks good guidance, offer continues to fall, some petrochemical enterprises slightly reduce the ex-factory price, business offer follow weak, and the overall situation is weak. However, due to the tight supply of spot goods in the current market, some brands rebounded slightly, but the inventory of downstream manufacturers was limited, and they mainly needed to be replenished.

In the international crude oil market, on June 29, the international oil price rose slightly. The settlement price of the main contract of WTI crude oil futures market in the United States was $72.98/ barrel, up $0.08. Brent crude oil futures market settlement price of the main contract at $74.28/ barrel, up $0.14. In the context of demand recovery, oil prices adjusted at a high level and OPEC relaxed production reduction expectations, which put pressure on oil prices in the short term.

Generally speaking, the current EVA market lacks obvious advantages, downstream manufacturers' inventory is limited, and the market replenishment mentality is general. On the whole, it is still cautious, and it is difficult to improve significantly in a short time. It is expected that China EVA market will continue to be weak in the future.

 

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