Price trend
Recently, the domestic EVA market has experienced significant stability and slight fluctuations, with spot prices often showing sideways trends. According to the Commodity Market Analysis System of the Business Society, as of October 23, the benchmark price of EVA in China was 12733.33 yuan/ton, a price level decrease of 3.29% compared to the beginning of the month.
Cause analysis
In terms of raw materials:
The overall supply of ethylene at the raw material end is sufficient, and the supply of port inventory is stable. The cost side is unstable, and the benefits for ethylene are not obvious. Operators are often bearish about the current ethylene market;
The trading situation in the vinyl acetate industry is average, and the follow-up of on-site stocking is weak. At the same time, the weakening of upstream raw materials such as ethylene has led to a weak guidance for the vinyl acetate market, and it is expected that the market may continue to be weak. The market for EVA raw materials is weak, and support for the EVA market has declined.
On the supply side:
Recently, domestic EVA enterprises have experienced small-scale maintenance, resulting in a narrow decrease in industry operating rates of around 4% to 77%. The overall inventory pressure of the enterprise is moderate, and the supply pressure is not yet obvious. Some manufacturers have lowered their factory prices, resulting in a stalemate among traders. EVA suppliers have average support for spot goods.
In terms of demand:
The recent sluggish EVA season has not improved. The demand for photovoltaic film has been exhausted for a long time, and there is currently insufficient consumption. The demand for foam shoe materials has been weak for a long time, and the weak demand for EVA continues. Last week, companies focused on just getting goods and were cautious in their operations, without any hoarding operations. The trading volume on the market is flat, with actual orders concentrated in low-end sources, while high priced sources are more susceptible to resistance.
Future Market Forecast
Overall, the EVA market performed evenly last week. The raw material market has weakened, and the support for EVA spot is loose. There is a certain decline in industry load, and the level of supply pressure is average. At present, the EVA market is plagued by long and short positions, with prices falling at a balance point. It is expected that the EVA market may continue to remain stagnant in the short term.
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