SunSirs: China EVA Market has seen a Slight Increase recently
November 12 2024 10:58:18 SunSirs (Selena)
Recently (11.1-11.11), the domestic EVA market atmosphere has rebounded and the market has slightly increased. According to the Commodity Market Analysis System of SunSirs, as of November 11th, the benchmark price of EVA in China was 10,400 RMB/ton, an increase of 0.32% from 10,366 RMB/ton on November 1st. EVA raw materials are fluctuating, with some cost support. Some EVA manufacturers have slightly increased their offers, and the market's bullish sentiment has increased. Downstream suppliers are stocking up as needed.
Recently (11.1-11.11), the production of EVA equipment in China has slightly decreased to 7.60%, indicating a reduction in market supply pressure. The price of raw material ethylene has slightly increased, while the price of vinyl acetate has decreased, providing support for the cost of EVA. As of November 11th, the price of ethylene in the East China market has risen to around 7,300 RMB/ton, and the price of vinyl acetate has fallen to around 5,400 RMB/ton.
From the perspective of the demand side, the high price resistance of foam demand on the demand side, the decrease in low-priced supply on the market side, and the strong offer from holders are the main reasons.
The future forecast shows that the overall increase in raw material ethylene prices will have a significant impact on the EVA market. EVA production slightly decreased, easing supply pressure; The demand side urgently needs support in the short term. Overall, it is expected that the EVA spot market will fluctuate and rise in the short term.
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