Supply has increased and demand is weak, resulting in a weak consolidation of the domestic EVA market in the recent period (6.18-6.25). According to the Commodity Market Analysis System of SunSirs, as of June 25th, the benchmark price of EVA in China was 11,150 RMB/ton, showing an overall weak consolidation.

Recently (6.18-6.25), EVA production has slightly increased to around 8.6%, indicating an increase in market supply pressure. The price of raw material ethylene has slightly increased, while the price of vinyl acetate has weakened and decreased. The cost of EVA continues to be slightly supported. As of June 25th, the domestic price of ethylene in Sinopec East China was 6,900 RMB/ton, an increase of 1.47% from 6,800 RMB/ton on June 18th; The price of vinyl acetate in the East China market was 5,325 RMB/ton, a decrease of 0.47% from 5,350 RMB/ton on the 18th.

On the demand side, the short-term main downstream photovoltaic market is difficult to shake up, and the inventory of photovoltaic materials from petrochemical manufacturers is under pressure. The foam industry maintains a strong demand for EVA during the off-season. After the downstream stage replenishment, demand follow-up is slow, and EVA prices are consolidating weakly.

Overall, raw material prices are supported by the boost of crude oil, and EVA production has returned to a high level. Supply pressure has increased in the short term, and downstream demand is generally weak. It is expected that the EVA spot market will continue to consolidate weakly in the later period.

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