The domestic EVA market remained stable in February. According to the Commodity Market Analysis System of SunSirs, as of February 27th, the benchmark price of EVA in China was 10,150 RMB/ton, unchanged from the beginning of the month. Downstream factories replenish raw materials before the holiday, and demand for EVA has certain support; Domestic EVA equipment is operating at a high level and the supply is loose; The price of raw material vinyl acetate has slightly increased, and the cost support of EVA continues.

The supply pressure in the EVA market in February still exists. During the cycle, the prices of raw materials ethylene and vinyl acetate have slightly increased, and the cost of EVA still has support. As of February 26th, the domestic price of ethylene in Sinopec East China was 5,850 RMB/ton, an increase of 1.74% from 5,750 RMB/ton at the beginning of the month; As of February 26th, the market price of vinyl acetate in East China was 5,950 RMB/ton, an increase of 0.85% from 5,900 RMB/ton at the beginning of the month.

Downstream demand support in early February, with slightly weak support after the holiday. Before the holiday, there was a strong demand for small orders in the downstream foam industry, with EVA general materials being the main focus of small transactions; After the holiday, downstream foam production resumed slowly, general material transactions were light, and prices remained stable while consolidating; The downstream photovoltaic industry has been slow to increase production, with small inquiries and orders being the main focus. The photovoltaic material market support is stable, moderate, and strong.

Overall, EVA cost support will continue, but downstream demand in the photovoltaic and foam industries will recover slowly after the holiday. In addition, the EVA supply side will maintain a high level, and the overall EVA fundamentals will be stable but slightly weak. It is expected that the weak consolidation of EVA spot market before the holiday will be the main focus.

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