Recent EVA Market Prices Show a Slight Increase

September 29, News

Recent (9.23~9.29) EVA market prices in China have seen a slight increase. According to the commodity price analysis system, as of September 29, the benchmark price for EVA in China was 11,400 CNY/ton, up 1.18% from 11,266 CNY/ton on September 23. On one hand, sustained support from downstream demand for EVA and high raw material prices have kept EVA prices at a high level; on the other hand, overall EVA plant operations in China have remained at a high level, limiting the overall price increase in the EVA market.

Recently (Sep 23–Sep 29), EVA production start-up rates edged up slightly to around 87%, though supply pressures in the EVA market remain. During this period, ethylene prices for raw materials declined, while vinyl acetate prices rose, continuing to provide cost support for EVA. As of September 29, Sinopec's ethylene price in East China stood at 6,950 CNY/ton, down 1.42% from 7,050 CNY/ton on September 23. Meanwhile, the East China market price for vinyl acetate reached 5,550 CNY/ton on September 23, marking a 1.83% increase compared to the previous week's 5,450 CNY/ton.

Recent photovoltaic EVA demand continues to provide strong support, and with the foaming sector maintaining its rigid demand, the recent EVA demand has been well-supported. However, as the long holiday approaches, under the mentality of securing profits, the willingness of inventory holders to sell has increased, leading to slight adjustments in merchant quotations, and the pace of market increase has slowed down.

Looking ahead, overall analysis suggests that high raw material prices will provide cost support for EVA. Additionally, China's EVA plants are expected to undergo minimal maintenance in October, ensuring a potentially ample supply. Meanwhile, strong underlying demand from downstream sectors such as photovoltaics and foam industries will continue to underpin market stability. As a result, the spot EVA market is anticipated to remain steady at elevated levels in the near term.