SunSirs: Insufficient Purchase, China EVA Market is Stable and Declining
January 23 2024 13:11:59 SunSirs (Selena)
Last week, the domestic EVA market remained stable with minor fluctuations, resulting in a narrow range of loose spot prices. According to the Commodity Market Analysis System of SunSirs, as of January 19th, the benchmark price of EVA in China was 11,433.33 RMB/ton, which is the same as the beginning of the month.
Last week, prices in the domestic EVA market remained stable with minor fluctuations. On the supply side, the load level of domestic EVA enterprises has significantly decreased, and the operating rate has been lowered to around 75%, leading to a tightening of market supply. Petrochemical plants have a strong willingness to support the market, and EVA suppliers have decent support for spot goods.
Last week, the demand side of EVA performed average. The trading situation on the exchange is mainly focused on low-end offers, while the overall stock preparation and follow-up of downstream enterprises are average. The buying logic of the buyer camp remains unchanged, and there is resistance to high priced sources. Prices are pulled by markets in different directions and are steadily decreasing.
Overall, last week's EVA price stalemate was relatively weak. The raw material market provides moderate support for EVA spot prices. The industry load has been reduced, and downstream demand is average. The confidence of operators is supported by the high prices of petrochemical plants, but as the end of the year approaches, the expectation of increased consumption in the future is low, and logistics is gradually slowing down. It is expected that the EVA market may remain weak and stagnant in the short term.
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- 2024-04-01 SunSirs: Supply and Demand Game, China EVA Market is Stagnant
- 2024-03-29 SunSirs: Supply and Demand are Weak, China EVA Market is Consolidating in March
