Due to the decrease in costs and increased supply pressure, the domestic EVA market has continued to be weak in the recent period (5.20-5.28). According to the Commodity Market Analysis System of SunSirs, as of May 28th, the benchmark price of EVA in China was 11,200 RMB/ton, a decrease of 0.88% from 11,300 RMB/ton on May 20th.

Recently (5.20-5.28), EVA production has significantly increased, with overall production rising to around 8.5%. The current market supply and demand pressure has once again increased. The prices of raw materials ethylene and vinyl acetate have weakened, and the cost support from EVA has weakened. As of May 28th, the domestic price of ethylene in Sinopec East China was 6,750 RMB/ton, a decrease of 2.88% from 6,950 RMB/ton on May 20th; The price of vinyl acetate in the East China market is 5,550 RMB/ton, a decrease of 1.77% from 5,650 on the 20th.

From the perspective of demand side, the new orders from downstream factories are not good, the main demand for photovoltaics is slow to follow up, and the demand for foaming is only followed up during the off-season; The market fundamentals are weak, and EVA prices continue to decline slightly.

Overall, raw material prices will decline, and there will be some pressure on the supply side to increase EVA production. The overall downstream demand is weak, and it is expected that the EVA spot market will continue to be weak and slightly decline in the short term.

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