Adequate supply and weak demand led to a weak downward trend in the domestic EVA market in October. According to the Commodity Market Analysis System of SunSirs, as of October 31st, the benchmark price of EVA in China was 10,866 RMB/ton, a decrease of 4.68% from the price level of 11,400 RMB/ton at the beginning of the month.

In October, the overall production of EVA in the domestic EVA industry slightly decreased from around 9.30% at the beginning of the month to around 8.90% at the end of the month. The overall production of EVA in October was at a high level, and the supply side was abundant.

The price of raw material ethylene has decreased, while the price of vinyl acetate has increased, providing some cost support for EVA. As of October 30th, the domestic price of ethylene in Sinopec East China was 6,300 RMB/ton, a decrease of 3.08% from 6,500 RMB/ton at the beginning of the month; The price of vinyl acetate in the East China market is 5,850 RMB/ton, up 3.54% from 5,650 RMB/ton at the beginning of the month.

The weak demand for EVA in October has slowed down spot purchases in the photovoltaic sector, resulting in slow follow-up of downstream orders for foam production and slow digestion of spot goods. This has dragged down the weak EVA market trend.

Overall, EVA still has cost support, but domestic EVA equipment production is high, supply is sufficient, and downstream photovoltaic and foam industry demand is weak. It is expected that the EVA spot market will continue to consolidate weakly in the later period.

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