SunSirs: China EVA Market Has Slightly Declined Recently

Recently (10.1-10.14), the domestic EVA market has slightly declined. According to the Commodity Market Analysis System of SunSirs, as of October 14th, the benchmark price of EVA in China was 11366 RMB/ton, a decrease of 0.29% from 11,403 RMB/ton at the beginning of the month. On the one hand, downstream demand for EVA weakened after the holiday; On the other hand, the increase in domestic EVA plant production has led to increased supply pressure. Although the price of raw material vinyl acetate has risen, the overall EVA market has weakened due to the comprehensive impact.

Recently (10.1-10.14), EVA production has risen to around 9.3%, leading to increased supply pressure in the EVA market. 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 October 14th, the domestic price of ethylene in Sinopec East China was 6,300 RMB/ton, a decrease of 9.35% from 6,950 RMB/ton at the end of September; As of October 14th, the market price of vinyl acetate in East China was 5,850 RMB/ton, an increase of 5.41% from 5,550 at the end of September.

After the holiday, the demand for EVA was weak, and spot purchases in the photovoltaic sector slowed down. The peak season for downstream orders for foam production was not strong, and some manufacturers lowered their ex factory prices. The EVA market situation was weak and slightly declined.

Overall, EVA still has cost support, but there will be less maintenance of EVA equipment in China after the holiday, with sufficient supply. Downstream demand in the photovoltaic and foam industries will weaken, and it is expected that the EVA spot market will continue to decline slightly in the later period.

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