SunSirs: Support by the Cost, China EVA Market Remained Stable with slight consolidation in November

The domestic EVA market saw a slight increase in November. According to the Commodity Market Analysis System of SunSirs, as of November 30th, the benchmark price of EVA in China was 10,433 RMB/ton, an increase of 0.64% compared to 10,366 RMB/ton on November 1st.

EVA production in November remained around 75-76%, with little supply pressure during the month; In November, some EVA factory prices were raised, which had a slightly greater impact on the market. The prices of raw materials ethylene and vinyl acetate increased overall in November. As of the end of November, the domestic price of ethylene in Sinopec East China was around 7,400 RMB/ton, an increase of around 100 RMB/ton from 7,300 RMB/ton at the beginning of the month. The price of vinyl acetate in the East China market is 5,775 RMB/ton, an increase of 350 RMB/ton from 5,400 RMB/ton at the beginning of the month.

From the perspective of the demand side, the overall downstream demand is dominated by rigid demand, and it is difficult for demand to show significant improvement in the short term. However, due to cost support, manufacturers' offers remain firm, and the market's low-priced supply has decreased.

The future forecast shows that overall, the rise in raw material prices still provides some support for the EVA market. EVA production is maintained at around 75%, and there is not much pressure on the supply side; 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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