The domestic EVA market experienced a slight decline in April. According to the Commodity Market Analysis System of SunSirs, as of April 30th, the benchmark price of EVA in China was 11,516 RMB/ton, a decrease of 0.43% from the price level of 11,566 RMB/ton on April 1st.

EVA production started slightly higher in April compared to March, with overall production around 87-90%. Currently, there is a slight increase in supply pressure from manufacturers. In April, the prices of raw materials ethylene and vinyl acetate were adjusted narrowly, and the cost faced weakened support from EVA. As of the end of April, the domestic price of ethylene in Sinopec East China was 7,100 RMB/ton, unchanged from the end of March. The price of vinyl acetate in the East China market is around 5,875 RMB/ton, a decrease of around 50 RMB/ton from the end of March.

From the perspective of demand side, in early April, the downstream photovoltaic industry had strong demand support, and the demand for foam terminals was relatively weak, with EVA prices remaining strong; The expected weakening of photovoltaic demand in the later stage and the off-season of downstream foam demand have led to market resistance to high priced goods, resulting in a gradually stagnant trading atmosphere and a slight decrease in EVA prices.

Overall, raw material prices are expected to narrow, EVA production is relatively high, and downstream demand is weak. It is expected that the EVA spot market will continue to decline slightly in the short term.

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