The domestic EVA market saw a significant upward trend in February. According to the Commodity Market Analysis System of SunSirs, as of February 28th, the benchmark price of EVA in China was 11,300 RMB/ton, an increase of 6.60% from 10,600 RMB/ton on February 1st.

In mid to late February, EVA production increased to around 7.8%, but currently manufacturers have limited inventory and a strong willingness to raise prices. In February, the price of raw material ethylene remained strong at a high level, while the price of vinyl acetate stabilized at a high level, providing cost support for EVA. As of the end of February, the domestic price of ethylene in Sinopec East China was 7,700 RMB/ton, an increase of 1.32% from 7,600 RMB/ton at the beginning of the month. The price of vinyl acetate in the East China market is 6,100 RMB/ton, an increase of 7.02% from 5,700 RMB/ton at the beginning of the month.

From the demand side perspective, downstream production gradually increased in mid to late February, with short-term strong demand for downstream photovoltaics and strong support from the foam industry's essential needs. The transaction volume in the EVA market has slightly increased.

The future forecast shows that the high prices of raw materials will still provide support for the EVA market. The downstream photovoltaic and foam industries are currently experiencing strong demand support. Overall, it is expected that EVA spot prices will continue to remain high in the short term.

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