SunSirs: China EVA Market Is Weak and Declining Recently

Recently (10.14-10.22), the domestic EVA market has been weak and declining. According to the Commodity Market Analysis System of SunSirs, as of October 22, the benchmark price of EVA in China was 11,200 RMB/ton, a decrease of 1.47% from 11,366 RMB/ton on the 14th. Downstream demand for photovoltaics and foam is weakening, and inquiries are mostly wait-and-see; The production of EVA equipment in China is still at a high level, and the supply pressure is still high; Although the price of raw material vinyl acetate remains stable and there is still support, the overall EVA market has weakened under the comprehensive influence.

Recently (10.14-10.22), EVA production has slightly decreased to around 90%, and overall production is still at a high level, indicating that supply pressure in the EVA market still exists. During the cycle, the prices of raw materials ethylene and vinyl acetate remained stable, but the cost faced EVA support still exists. As of October 22, the domestic price of ethylene in Sinopec East China was 6,300 RMB/ton, unchanged from the price on October 14; As of October 22, the price of vinyl acetate in the East China market was 5,850 RMB/ton, unchanged from the price on October 14.

Recently (10.14-10.22), the demand for EVA has been weak, and spot purchases in the photovoltaic sector have slowed down. Downstream orders for foaming have been slow to follow up, and spot digestion has been slow. EVA manufacturers have lowered their ex factory prices, resulting in a weak downward trend in the EVA market.

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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