SunSirs: China EVA Market Remained Stable with a Slight Increase Recently

Recently (12.1-12.17), the domestic EVA market has remained stable with a slight increase. According to the Commodity Market Analysis System of SunSirs, as of December 17th, the benchmark price of EVA in China was 10,533 RMB/ton, an increase of 0.96% from 10,433 RMB/ton on the first day. The price of EVA raw material ethylene has risen, with some cost support. Some EVA manufacturers have slightly increased their offers, and they have a strong willingness to raise prices. The market is mainly wait-and-see, and downstream suppliers tend to stock up on demand, with some resistance to high priced sources.

Recently (12.1-12.17), the production of EVA equipment in China has dropped to around 6.80%, and the market supply pressure has eased. The price of raw material ethylene has risen, and the price of vinyl acetate has slightly adjusted, providing support for the cost of EVA. As of December 17th, the price of ethylene in the East China market remained stable at around 7,700 RMB/ton, a significant increase from 7,400 RMB/ton at the end of November; The price of vinyl acetate has risen to around 5,725 RMB/ton, with a slight overall adjustment.

From the perspective of the demand side, the overall downstream demand is dominated by rigid demand, and the downstream demand for foam is gradually increasing. However, there is still resistance to high priced sources of goods, with a focus on buying at low prices.

The future forecast shows that the overall increase in raw material ethylene prices will have a significant impact on the EVA market. EVA production has basically decreased, easing supply pressure, especially with a relative shortage of foam spot goods; The demand side urgently needs support in the short term. Overall, it is expected that the EVA spot market will remain stable and explore an upward trend in the short term.

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