Recent EVA Market Trends Continue to Rise in China

September 17, News

Recent (9.1~9.17) EVA market in China has continued to show an upward trend. According to the commodity price analysis system, as of September 17th, the benchmark price of EVA in China was 11,200 CNY/ton, an increase of 1.20% from 11,066 CNY/ton on September 1st. On one hand, the downstream demand for EVA is well-supported, and the strengthening of raw material prices has pushed up EVA prices; on the other hand, the overall operation rate of EVA facilities in China remains high, limiting the overall price increase in the EVA market.

Recently (September 1-17), the EVA operating rate continued to rise to around 90%, as some previously shut-down facilities restarted, increasing the supply pressure in the EVA market. During this period, the price of ethylene, a raw material, remained stable, while the price of vinyl acetate increased, strengthening the cost support for EVA. As of September 17, the price of ethylene from Sinopec in East China was 7,150 CNY/ton, remaining stable compared to 7,050 CNY/ton on September 1; as of September 17, the market price of vinyl acetate in East China was 5,400 CNY/ton, an increase of 3.85% from 5,200 CNY/ton on September 1.

Recently, the demand for photovoltaic EVA in China has been strongly supported, and the foam sector has maintained steady demand. This has provided good support for EVA demand. However, downstream players are still resistant to high-priced supplies. Traders are cautious with their inventory and follow market trends, leading to a steady and continued rise in the market.

Looking ahead, overall, rising raw material prices are providing cost support for EVA. However, despite high operating rates and ongoing supply pressures, strong underlying demand from downstream sectors like photovoltaics and foam industries continues to underpin the market. As a result, we expect EVA spot prices to likely maintain a modest upward trend in the near term.