SunSirs: China EVA Market is Stable and Consolidating recently

Recently (11.18-11.27), 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 27th, the benchmark price of EVA in China remained stable at 10,433 RMB/ton. The price of EVA raw material vinyl acetate has risen, with some cost support. Some EVA manufacturers have slightly increased their offers, and the market's bullish sentiment still exists. Downstream suppliers tend to stock up on demand and are slightly resistant to high priced sources.

Recently (11.18-11.27), the overall production rate of EVA equipment in China has remained stable at 7.5%, and the market supply pressure is not significant. The price of raw material ethylene remains stable, while the price of vinyl acetate rises, providing support for the cost of EVA. As of November 27th, the price of ethylene in the East China market has remained stable at around 7,400 RMB/ton, while the price of vinyl acetate has risen to around 5,775 RMB/ton.

From the perspective of the demand side, the overall downstream demand is dominated by rigid demand, and it is difficult to see a significant improvement in demand in the short term. However, the low-priced supply of goods in the market has decreased, and the holding prices are relatively firm.

The future forecast shows that the overall increase in the price of raw material vinyl acetate will have a significant impact on the EVA market. EVA production is basically stable, and there is not much pressure on the supply side; The demand side urgently needs support in the short term. Overall, it is expected that the EVA spot market will remain stable and mainly consolidate in the short term.

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