SunSirs: Weak Trading, China EVA Market Continued to be Weak
April 24 2024 10:37:29 SunSirs (Selena)
Last week, the domestic EVA market continued to be weak, with spot prices slightly reduced. According to the Commodity Market Analysis System of SunSirs, as of April 22, the benchmark price of EVA in China was 11,533.33 RMB/ton, with a price level increase or decrease of -3.35% compared to the beginning of the month.
The domestic EVA market operated weakly last week, and the supply side load of domestic EVA enterprises continued to decrease to around 74%. Due to the maintenance of some petrochemical plants in the early stage, the market supply has decreased narrowly. However, due to the wavering market confidence, some auction transaction prices fell, and manufacturers' pricing was steadily lowered. EVA suppliers have loosened their support for spot goods.
From the demand side perspective, last week's EVA terminal enterprises started production steadily with little movement, and their stocking situation tended to lag behind. The logic of purchasing and consumption for just in need remained unchanged. Among them, there are very few new orders for traditional downstream areas such as foam shoe materials and cables and wires. Merchants are affected by the downward market trend, resulting in an increase in actual orders, discounts, and transactions. Overall, the demand side has poor support for EVA.
Overall, last week's EVA prices continued to be weak. The changes in the market for raw materials ethylene and vinyl acetate are limited, and the support for the EVA market is mediocre. The industry load has slightly declined, and the ex factory prices of petrochemical plants have loosened narrowly. The overall development of the demand side is poor, dragging market momentum. It is expected that the spot price of EVA will remain weak in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-26 SunSirs: Limited Improvement in Market Momentum, Weak Consolidation of China EVA Market
- 2024-04-18 SunSirs: Poor Market Momentum Leads to a Decline in China EVA Prices
- 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
- 2024-03-25 SunSirs: Tight Supply, China EVA Market is Strong
