Recent EVA Market Trend Continues to Be Weak in China

November 20th, according to reports

Recently (Nov 13-20), the EVA market in China has shown a weak downward trend. According to the commodity market analysis system, as of November 20, the benchmark price of EVA in China was 10,400 CNY/ton, a decrease of 0.95% from 10,500 CNY/ton at the beginning of the month. The demand for downstream photovoltaic and foam applications remains weak; EVA production facilities in China are still operating at high levels, maintaining supply pressure; additionally, the price of raw material vinyl acetate is also showing a weak downward trend. These factors collectively contribute to the overall weakening of the EVA market.

Recently (Nov. 13–20), EVA production has remained relatively stable at around 85% capacity, though market supply pressures on EVA continue to persist. During this period, ethylene prices for raw materials stayed steady, while vinyl acetate prices edged slightly lower, weakening cost-based support for EVA. As of November 19, Sinopec's ethylene price in East China stood at 6,200 CNY/ton, unchanged from the price on the 13th. Meanwhile, the East China market price for vinyl acetate dipped to 5,650 CNY/ton by November 19, down 1.74% from the earlier figure of 5,750 CNY/ton on the 13th.

Recently (11.13~11.20), the EVA market in China has lacked significant positive support. Downstream photovoltaic and foam terminal orders have been slow to follow up, leading to a sluggish digestion of spot goods. Some EVA manufacturers have continued to lower their factory prices, resulting in a weak downward trend in the EVA market.

For the future market forecast, overall, the support from EVA cost is weakening, and the demand from downstream photovoltaic and foam industries is also weakening. Additionally, there are plans for new EVA facilities to be commissioned, leading to a generally weak EVA fundamentals. It is expected that the EVA spot market will mainly see a weak consolidation in the later period.