Recent EVA Market Prices Slightly Increased

September 23, News

Recently (9.17~9.23), the EVA market in China has seen a slight increase. According to the commodity market analysis system, as of September 23, the benchmark price of EVA in China was at 11,266 CNY/ton, which is a 0.60% increase from 11,200 CNY/ton on September 17. On one hand, the continued support of downstream demand for EVA and the high operating costs of raw materials have kept EVA prices at a high level; on the other hand, the overall high operation rate of EVA facilities in China has limited the extent of the price increase in the EVA market.

In recent times (9.17~9.23), the EVA operating rate has slightly decreased to around 85%, and there is still supply pressure in the EVA market. During this period, the price of ethylene, a raw material, has decreased, while the price of vinyl acetate has increased, continuing to support the cost of EVA. As of September 23, the price of ethylene from Sinopec in East China was 7050 CNY/ton, a decrease of 1.42% from 7150 CNY/ton on September 1; as of September 23, the market price of vinyl acetate in East China was 5450 CNY/ton, an increase of 0.93% from 5400 CNY/ton on September 1.

Recent photovoltaic EVA demand continues to provide strong support, and with the foam end maintaining rigid demand, recent EVA demand is well-supported. However, as the long holiday approaches, cargo holders, with a mindset of securing profits, have increased their willingness to sell, leading to minor adjustments in merchant quotations and a slowdown in the market's upward trend.

The forecast for the future, taking into account that raw material prices are high and EVA receives cost support, with EVA production at a high level and supply pressure still existing, and the downstream photovoltaic and foaming industries providing firm demand support, it is comprehensively expected that in the short term, the EVA spot market in China will remain at a high level with minor adjustments.