Weak demand led to a weak downward trend in the domestic EVA market in November. According to the Commodity Market Analysis System of SunSirs, as of November 28th, the benchmark price of EVA in China was 10,400 RMB/ton, a decrease of 4.29% from the price level of 10,866 RMB/ton at the beginning of the month.

Since November, some EVA units in China have been shut down for maintenance, and the overall production of EVA industry has slightly decreased from around 92% at the beginning of the month to around 83% at the end of the month. However, the market supply is still abundant, and coupled with the expectation of new units being put into operation at the end of the year, the market atmosphere is weak.

The price of raw material ethylene has decreased, while the price of vinyl acetate has increased, providing some cost support for EVA. As of November 27th, the domestic price of ethylene in Sinopec East China was 6,200 RMB/ton, a decrease of 1.59% from 6,300 RMB/ton at the beginning of the month.

In November, there was a lack of significant positive support for the demand in the EVA market. Downstream photovoltaic and foam terminal orders followed up slowly, and spot digestion was slow. 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. In November, the manufacturer's supply prices continued to decline, and the EVA market situation is running weakly.

Overall, the cost of EVA is expected to decline, coupled with sufficient supply in the EVA market and weak demand in downstream photovoltaic and foam industries. It is expected that the EVA spot market will continue to consolidate weakly in the later period.

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