Recent EVA Market Trend Weakens in China

October 22, news

Recently (10.14~10.22), the EVA market in China has shown a weak downward trend. According to the commodity market analysis system, as of October 22, the benchmark price of EVA in China was 11,200 CNY/ton, a decrease of 1.47% from 11,366 CNY/ton on the 14th. Downstream demand from the photovoltaic and foam sectors has weakened, with more inquiries being made on a wait-and-see basis. EVA production facilities in China are still operating at high levels, leading to continued supply pressure. Although the price of the raw material vinyl acetate remains stable and provides some support, the overall EVA market has weakened under the combined influence of these factors.

Recently (October 14-22), the EVA operating rate slightly decreased to around 90%, but overall, it remains at a high level, and there is still supply pressure in the EVA market. During this period, the prices of raw materials, ethylene and vinyl acetate, remained stable, providing continued cost support for EVA. As of October 22, the price of ethylene from Sinopec in East China was 6,300 CNY/ton, unchanged from the price on the 14th; as of October 22, the market price of vinyl acetate in East China was 5,850 CNY/ton, also unchanged from the price on the 14th.

Recently (October 14-22), EVA demand has been weak. The photovoltaic sector has slowed down in spot purchases, and the downstream foam orders have been slow to follow up. Spot inventory digestion is sluggish, leading EVA manufacturers to lower their factory prices. The EVA market trend is showing a weak downward trend.

Looking ahead, EVA prices are still expected to find cost support overall. However, following the holiday period, China’s EVA plants will undergo relatively little maintenance, ensuring ample supply. Meanwhile, demand from downstream sectors such as photovoltaics and foam industries is weakening. As a result, the spot market for EVA is likely to continue its modest downward trend in the near term.