The domestic EVA market remained stagnant in the first half of January, with gains concentrated in the second half. On the supply side, at the end of last year, the load of domestic EVA enterprises reached a high level of nearly 90%. In January, they took on a high supply side pressure pattern, and the load level adjusted significantly. After the monthly operating rate fell, it fluctuated and fluctuated, with an overall fluctuation of around 77%. The market supply was relatively tight. The willingness of petrochemical plants to support the market is gradually strengthening, and EVA suppliers are increasing their support for spot goods.
The demand side performance of EVA also improved in January. In the first half of the month, both buyers and sellers were in a balanced position, and the overall stocking situation of terminal enterprises did not improve. The logic of buying on dips remained unchanged, and there was resistance to high priced sources of goods. Mid month replenishment boosted transaction performance, with merchants showing increased willingness to purchase goods and reluctance to sell due to the impact of previous industry load reduction and recent destocking. In January, the midstream of the EVA industry provided certain support for the demand side.
Overall, the price of EVA in January changed from a sideways trend to an upward trend. The support of raw material market for EVA spot is moderate. The industry load has significantly decreased, petrochemical plants have maintained a strong market, and downstream demand has improved due to replenishment operations by traders. But as the Spring Festival approaches, downstream enterprises in the future have increased their holiday arrangements, and their expectations for increased consumption are relatively low. Therefore, it is expected that the EVA market may return to calm before the holiday. It is recommended to focus on the production of new equipment in Baofeng, Ningxia after the holiday.
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