Recent EVA Market Prices in China Have Slightly Declined

October 15 update

Recently (10.1~10.14), the EVA market in China has slightly declined. According to the commodity price analysis system, as of October 14th, the benchmark price of EVA in China was 11,366 CNY/ton, a decrease of 0.29% from 11,403 CNY/ton at the beginning of the month. On one hand, the demand for EVA downstream weakened after the holiday; on the other hand, the operating rate of EVA facilities in China increased, leading to greater supply pressure. Although the price of the raw material, vinyl acetate, rose, the overall EVA market weakened under the combined effects.

Recently (Oct. 1–Oct. 14), EVA production start-ups rose to around 93%, putting increased pressure on EVA market supply. During this period, ethylene prices for raw materials declined, while vinyl acetate prices climbed, continuing to provide cost support for EVA. As of October 14, Sinopec's ethylene price in East China stood at 6,300 CNY/ton, down 9.35% from 6,950 CNY/ton at the end of September. Meanwhile, the East China market price for vinyl acetate reached 5,850 CNY/ton on October 14, up 5.41% from 5,550 CNY/ton at the end of September.

After the holiday, EVA demand in China was weak, with the photovoltaic sector slowing down its spot purchases. The peak season for orders from the foaming downstream terminals was not as strong as expected, leading some manufacturers to lower their factory prices. As a result, the EVA market showed a slight downward trend.

Looking ahead, EVA prices are still expected to find cost support overall. However, post-holiday maintenance at Chinese EVA plants will be relatively limited, ensuring ample supply. Meanwhile, demand from downstream sectors like photovoltaics and foam products is weakening. As a result, the spot market for EVA is likely to continue its slight downward trend in the near term.