The domestic EVA market saw a slight increase in October. According to the Commodity Market Analysis System of SunSirs, as of October 31st, the benchmark price of EVA in China was 10,366 RMB/ton, a decrease of 2.30% from 10,133 RMB/ton on October 1st.

EVA production started around 7.6-86% in October, with higher production at the beginning of the month, a slight decrease in mid month, and a rebound to 8.10% at the end of the month. Supply pressure still exists during the month; In October, some EVA factory prices were raised, which had a slightly greater impact on the market. In October, the overall price of raw material ethylene remained stable, while the price of vinyl acetate first rose and then fell, with a slight increase overall. As of the end of October, the domestic price of ethylene in Sinopec East China was 7,200 RMB/ton, and the market price of vinyl acetate in East China was 5,600 RMB/ton, an increase of 50 RMB/ton from 5,550 RMB/ton at the beginning of the month and a decrease of 100 RMB/ton from 5,700 RMB/ton in the middle of the month.

On the demand side, there was a slight improvement in downstream demand in October, but the overall change was not significant. Prices of petrochemical manufacturers remained relatively firm, and downstream demand followed suit, resulting in limited market transaction growth.

It is predicted that the raw material price will be adjusted steadily, which will still support the EVA market. EVA production is still at a high level, and supply pressure still exists; Limited improvement is needed on the demand side. Overall, it is expected that the spot price of EVA will continue to narrow in the short term.

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