SunSirs: China EVA Market Has Seen a Slight Increase Recently

Recently (8.25-9.1), the domestic EVA market has seen a slight increase. According to the Commodity Market Analysis System of SunSirs, as of September 1st, the benchmark price of EVA in China was 11,066 RMB/ton, an increase of 1.53% from 10,900 RMB/ton on August 25th. On the one hand, the downstream demand support for EVA has improved, but on the other hand, there is still resistance from downstream suppliers to high priced goods, which limits the overall growth of the EVA market.

Recently (8.25-9.1), EVA production has increased to over 85%, and some pre maintenance equipment has restarted operation, leading to increased supply pressure in the EVA market. During the cycle, the price of raw material ethylene increased while the price of vinyl acetate slightly decreased, providing cost support for EVA. As of September 1st, the domestic price of ethylene in Sinopec East China was 7,150 RMB/ton, an increase of 1.42% from 7,050 RMB/ton on August 25th; As of September 1st, the market price of vinyl acetate in East China was 5,200 RMB/ton, a decrease of 1.42% from 5,275 on August 25th.

Recently, the demand for EVA has improved, and the support for short-term photovoltaic demand has increased. The foam end remains in high demand, but downstream consumers still have resistance to high priced goods. The trading side is cautious in holding goods and trading with the market, and the market is stable and continues to explore gains.

Overall, raw material prices have fluctuated, and there is still high supply pressure for EVA production. 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 tentatively rise in the later period.

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