SunSirs: China EVA Market Slightly Rebounds in August

The supply and demand situation has slightly improved, and the domestic EVA market has slightly rebounded in August. According to the Commodity Market Analysis System of SunSirs, as of August 29th, the benchmark price of EVA in China was 10,966 RMB/ton, an increase of 0.77% from 10,883 RMB/ton at the beginning of the month.

In August, the pressure on EVA supply eased, and some domestic EVA petrochemical plants were shut down for maintenance. The overall production of EVA industry in China decreased from 90% at the beginning of the month to around 7.7% at the end of the month.

The price of raw material ethylene has significantly increased, while the price of vinyl acetate has significantly decreased, providing some cost support for EVA. As of August 29th, the domestic price of ethylene in Sinopec East China was 7,250 RMB/ton, an increase of 6.62% from 6,800 at the end of July; The price of vinyl acetate in the East China market is 5,225 RMB/ton, a decrease of 8.73% from 5,725 at the end of July.

In August, there was an increase in demand support for EVA, and the foam end remained in high demand, driving the market to rise. However, downstream demand for high priced goods still resisted, dragging down the upward trend of the EVA market.

Overall, raw material prices have fluctuated, and the pressure on the supply side of EVA production has eased. The downstream photovoltaic and foam industries are mainly supported by demand. With the arrival of the traditional peak season, it is expected that the EVA spot market will continue to rise tentatively in the later period.

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