Recently (11.20-11.26), the domestic EVA market has been operating weakly. According to the Commodity Market Analysis System of SunSirs, as of November 26th, the benchmark price of EVA in China was 10,400 RMB/ton, which was the same as the price on November 20th. The demand for downstream photovoltaics and foam production is relatively weak; Domestic EVA equipment production has slightly decreased, but supply pressure still exists; The price of raw material vinyl acetate is weakly declining, and the market lacks favorable support to consolidate the weak EVA market.
Recently (11.20-11.26), EVA production has slightly decreased to around 8.30%, indicating that supply pressure in the EVA market still exists. During the cycle, the price of raw material ethylene remained stable, while the price of vinyl acetate slightly decreased, and the cost faced weakened support from EVA. As of November 25th, the domestic price of ethylene in Sinopec East China was 6,200 RMB/ton, which remained stable compared to the price on November 20th; As of November 25th, the price of vinyl acetate in the East China market was 5,500 RMB/ton, a decrease of 2.65% from 5,650 RMB/ton on the 20th.
Recently (11.20-11.26), there has been a lack of significant positive support for the demand in the EVA market, with slow follow-up of downstream photovoltaic and foam terminal orders and slow digestion of spot goods. In addition, new production capacity on the supply side is about to be put into operation, and the supply of goods is expected to increase. Some manufacturers' prices continue to decline, and the EVA market is running weakly.
Overall, the cost support for EVA will weaken, and the demand for downstream photovoltaic and foam industries will weaken. In addition, there are plans for new equipment to be put into production in the later stage of EVA, and the overall fundamentals of EVA are weak. It is expected that the weak consolidation of EVA spot market will be the main trend in the later stage.
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