SunSirs: China EVA Market Has Seen a Slight Upward Trend Recently

Recently (9.23-9.29), the domestic EVA market has seen a slight upward trend. According to the Commodity Market Analysis System of SunSirs, as of September 29th, the benchmark price of EVA in China was 11,400 RMB/ton, an increase of 1.18% from 11,266 RMB/ton on September 23rd. On the one hand, downstream demand for EVA continues to support, with high raw material prices running, supporting EVA prices to remain high; On the other hand, the overall production of EVA equipment in China remains high, and the overall growth of the EVA market is limited.

Recently (9.23--9.29), EVA production has slightly increased to around 8.7%, indicating that supply pressure in the EVA market still exists. During the cycle, the price of raw material ethylene decreased while the price of vinyl acetate increased, and the cost continued to be supported by EVA. As of September 29th, the domestic price of ethylene in Sinopec East China was 6,950 RMB/ton, a decrease of 1.42% from 7,050 RMB/ton on September 23rd; As of September 23, the market price of vinyl acetate in East China was 5,550 RMB/ton, an increase of 1.83% compared to 5,450 RMB/ton on September 23.

Recently, the demand for photovoltaic EVA has continued to be strongly supported, coupled with the foam end maintaining a strong demand follow-up. The demand for EVA has been well supported in the near future, but as the long holiday approaches and holders are in a safe state of mind, their willingness to ship has increased, and merchant offers have slightly adjusted, slowing down the market's upward trend.

Overall, the high raw material prices of EVA will be supported by costs. In October, there will be less maintenance of EVA equipment in China, and the supply may remain sufficient. The downstream photovoltaic and foam industries are in urgent need of support. It is expected that the EVA spot market will consolidate at a high level in the later period.

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