SunSirs: China EVA marketwas Weak in September, 2024

The domestic EVA market saw a narrow consolidation in September. According to the Commodity Market Analysis System of SunSirs, as of September 30th, the benchmark price of EVA in China was 10,133 RMB/ton, a decrease of 0.98% from the price level of 10,233 RMB/ton on September 1st.

EVA construction started around 90% at the beginning of the month, with a slight decrease in the middle of the month, but overall construction remained above 80% throughout the month, indicating continued supply pressure; In the second half of September, some EVA factory prices were lowered, which had a bearish impact on the market. In addition, the price of raw material ethylene fell sharply in September, and the cost was relatively short due to the impact of EVA during the month. As of the end of September, the domestic price of ethylene in Sinopec East China was 7,200 RMB/ton, a significant decrease from 7,650 RMB/ton at the end of August.

From the demand side perspective, the Golden September season has not formed an upward trend, with a small amount of downstream stocking before the two festivals within the month. The overall market transactions are not high, and the EVA market is mainly under pressure under the overall high supply and low demand state.

Overall, the decrease in raw material ethylene prices will have a bearish impact on the EVA market. EVA production is still at a high level, and supply pressure still exists; In the short term, the demand side has weak support for rigid demand. Overall, it is expected that EVA spot prices will continue to consolidate weakly in the short term.

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