Due to the decrease in costs and increased supply and demand pressure, the domestic EVA market weakened and declined in the first half of May. According to the Commodity Market Analysis System of SunSirs, as of May 15th, the benchmark price of EVA in China was 11,366 RMB/ton, a decrease of 1.30% from 11,516 RMB/ton on May 1st.

In the first half of May, EVA production slightly decreased, with overall production dropping to around 8.10%, indicating increased market supply and demand pressure. In the first half of May, the prices of raw materials ethylene and vinyl acetate were narrowly adjusted, and the cost faced weakened support from EVA. As of May 15th, the domestic price of ethylene in Sinopec East China was 7,000 RMB/ton, a decrease of 100 RMB/ton from the end of April; The price of vinyl acetate in the East China market is around 5,700 RMB/ton, a decrease of around 175 RMB/ton from the end of April.

From the perspective of demand side, downstream photovoltaic procurement has a slow pace, and foam demand is mostly wait-and-see, with rigid demand following up; After the adjustment of tariffs between China and the United States, peripheral products have risen, which has boosted the mentality of the EVA market. However, the market fundamentals are weak, and EVA prices have slightly decreased.

Market forecast: Overall, raw material prices have slightly decreased, 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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