SunSirs: Tight Supply, China EVA Market is Strong

Recently, the domestic EVA market has remained stable with minor fluctuations, and spot prices have remained stable with slight increases. According to the Commodity Market Analysis System of SunSirs, as of March 22, the benchmark price of EVA in China was 12,066.67 RMB/ton, with a price increase or decrease of 1.69% compared to the beginning of the month.

The domestic EVA market has been operating steadily recently, with a significant increase in the supply side load of domestic EVA enterprises. Last week, the average operating rate rose to over 92%. However, the inventory pressure of the petrochemical plant is still not high, and there are plans for some production and maintenance next week. At present, the willingness of suppliers to support the market is clear, and the support of EVA suppliers for spot goods is still sufficient.

From the demand side perspective, current EVA terminal enterprises are generally operating, and their stocking situation tends to lag behind. The logic of purchasing for just needs remains unchanged. Especially in terms of foam shoe materials and cables and wires, there are relatively few new orders, and overall, the demand for goods is mainly based on demand. Merchants are actively selling at higher prices due to the impact of manufacturers. As the weekend approaches, some brands are showing an upward trend. The demand side has average support for EVA.

Overall, EVA prices remained stable last week. The raw materials ethylene and vinyl acetate are both consolidating, providing moderate support for the EVA market. The industry load is increasing, and the inventory position of petrochemical plants is still healthy. Coupled with expectations of supply tightening in the future, factory prices remain strong in the market. The poor consumption of traditional shoe materials and cables on the demand side has dragged down the overall trading heat. It is expected that in the short term, the spot price of EVA will continue to be dominated by consolidation and operation.

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