SunSirs: Negative Factors Lead China EVA Market to Continue to be Weak
May 28 2021 10:17:00 SunSirs (Selena)
According to the data monitoring of SunSirs, the average price of domestic EVA market was 20,466.67 RMB/ ton on May 25, and 20,466.67 RMB/ ton on May 26. During the period, the price was flat, up 2.58% compared with March 30. Although the quotation of EVA manufacturers has not changed, the market continues to be weak, and there is still a downward trend.
On May 26, the price of EVA petrochemical enterprise changed little, mainly stable, and the market offer was still falling, with a range of about 100 RMB/ ton. At present, the market transaction atmosphere is light, upstream petrochemical manufacturers mainly produce photovoltaic materials, the market supply is tight, and the price is stable. Downstream manufacturers are cautious and wait-and-see, so it is not easy to make a firm offer.
On Wednesday, the US Energy Information Administration (EIA) data brought good news, with the decline of crude oil inventory, combined with the arrival of North American driving season, and the expected improvement of market demand, which overcame the market's worries about the return of Iranian crude oil to the international market.
Recently, the domestic acetic acid market is weak, the market turnover is weak and stable, the short-term market supply and demand is dominated by the lower reaches, and the market sentiment is mainly bearish.
At present, the downward trend of raw materials brings limited support to the market. Downstream manufacturers are cautious and mainly wait-and-see. The overall transaction atmosphere of the market is general, and there is a lack of obvious advantages. It is not easy to make a firm offer. It is expected that the price of EVA will continue to be weak in the short term in China.
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