Recently (1.1-1.27), the domestic EVA market has seen a slight increase. According to the Commodity Market Analysis System of SunSirs, as of January 27th, the benchmark price of EVA in China was 10,150 RMB/ton, an increase of 3.92% from 9,766 RMB/ton at 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.
Recently (1.1-1.27), EVA production has reached a high of around 90%, indicating that the supply pressure in the EVA market still exists. During the cycle, the price of raw material ethylene slightly decreased and the price of vinyl acetate slightly increased, indicating that the cost of EVA still has support. As of January 27th, the domestic price of ethylene in Sinopec East China was 5,750 RMB/ton, a decrease of 0.81% from 6,150 RMB/ton at the beginning of the month; As of January 27th, the market price of vinyl acetate in East China was 5,925 RMB/ton, an increase of 5.45% from 5,875 RMB/ton at the beginning of the month.
Recently (1.1-1.27), the downstream photovoltaic and foam industries have seen a surge in demand for restocking before the Spring Festival. EVA has been selling smoothly in the early stages, and as the end of the month approaches, downstream restocking is gradually coming to an end. Market inquiries are mainly for essential needs, and EVA demand has returned to a weak position. At the end of the month, the EVA market saw a narrow consolidation.
Overall, EVA cost support will continue, but as the Spring Festival approaches and downstream photovoltaic and foam industry demand weakens, coupled with high EVA plant production, the overall EVA fundamentals are stable but slightly weak. It is expected that the weak EVA spot market before the holiday will be the main reason for consolidation.
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