SunSirs: The Market Atmosphere is Bleak, China EVA Declines in the Second half of June

According to the data monitoring of SunSirs, the average price of domestic EVA market was 19,666.67 RMB/ ton on June 14 and 19,200.00 RMB/ ton on June 23, with a decrease of 2.37% during the period and 6.19% compared with May 1. EVA market decline is difficult to change, the ex factory price and market quotation are reduced to varying degrees.

In the second half of the month, some EVA petrochemical enterprises lowered their ex-factory prices twice, and business offers followed the decline. The overall trend was weak, the market lacked positive support, and the atmosphere of pessimism was strong. At present, the price of hard material is 17-800-18-600 RMB/ ton, and that of domestic soft material is 18-500-19-200 RMB/ ton. The release of new production capacity is expected to have a certain impact on the market. The downstream procurement is negative, and more low-cost sources are sought, and the merchants make profits to ship.

In the international crude oil market, on June 24, the international oil price rose slightly. The settlement price of the main contract in the US WTI crude oil futures market was $73.30/ barrel, up $0.22 or 0.3%. Brent crude oil futures market settlement price of the main contract at $74.81/ barrel, up $0.31 or 0.4%. The oil price continued to consolidate at a high level. At present, the price has reached the highest level in nearly three years, mainly due to the support of US commercial crude oil inventory data and the delay of Iranian oil's return to the market.

In the ethylene market, the overall trend of the ethylene market is rising, the buying atmosphere is active, the transaction is good, and the focus of the ethylene market is gradually moving up.

On the whole, the current international crude oil up drive ethylene up, to bring some support to the market, EVA market decline than earlier slowed down. However, the current downstream demand is weak, it is difficult to change significantly in the short term, and the shipping pressure of businesses is large. It is expected that the price of China EVA market will continue to be weak in the short term, but the range is limited.

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