In August, the domestic EVA market experienced narrow-range consolidation; trends for photovoltaic (PV) grade and general-purpose grades diverged significantly, and the market overall lacked momentum for a sustained rise or fall. Early in the month, EVA prices remained high, supported by plant maintenance and low inventories at petrochemical facilities. By mid-month, however, the traditional off-season weighed on the market, resulting in sluggish trading and a slight decline in prices. According to SunSirs data, the benchmark price for EVA stood at 10,333 RMB/ton as of August 18, a 0.48% drop from the 10,383 RMB/ton recorded at the beginning of the month.
On the supply side, the domestic EVA industry's operating rate remained between 64% and 70% in August, with some units reducing loads due to maintenance. Producers ramped up the switch to PV-grade material production, resulting in an 8–10% month-on-month increase in PV-grade output, while the production of general-purpose grades was consequently compressed. An overseas EVA plant with a 300,000-ton capacity resumed production in mid-August, and imported supplies gradually arrived at ports, supplementing the domestic supply of high-end materials. While petrochemical plant inventories remained low, social inventories saw a slight accumulation—concentrated mainly in general-purpose grades—which limited the potential for price rebounds in that segment.
Regarding costs, Brent crude oil prices fluctuated within a range, and naphtha-driven domestic ethylene spot prices held steady at 7,900–8,100 RMB/ton. Vinyl acetate prices in East China ranged from 6,500 to 6,700 RMB/ton, exerting little upward pressure on EVA prices. The total production cost for oil-based EVA was approximately 8,700–9,100 RMB/ton; while costs provided some support, the transmission of these costs downstream was ineffective, leading to divergent profitability among enterprises.
Demand was polarized: PV film manufacturers increased production schedules by 6–7% month-on-month in August, with stable long-term contracts and essential demand supporting PV-grade EVA. Conversely, traditional downstream sectors—such as footwear materials and packaging—were in their off-season; operating rates were sluggish, purchasing was limited to immediate needs, and price-cutting to move stock was common, dragging down the market for general-purpose grades.
Looking ahead, the market is expected to continue its pattern of weak, fluctuating performance in the short term. Prices for photovoltaic-grade resin are holding steady, supported by production scheduling for encapsulant films, yet lack the momentum for a significant rise; meanwhile, general-purpose grades face slight downward pressure due to the off-season. With the restart of units undergoing maintenance and the continued arrival of imports, supply is expanding further, limiting the scope for price increases.
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