Recently (11.13-11.20), the domestic EVA market has been weak and declining. According to the Commodity Market Analysis System of Shengyi Society, as of November 20th, the benchmark price of EVA in China was 10400 yuan/ton, a decrease of 0.95% from 10500 yuan/ton at the beginning of the month. The demand for downstream photovoltaics and foam production is relatively weak; Domestic EVA equipment still maintains high supply pressure during start-up; In addition, the weak downward trend in the price of raw material vinyl acetate has led to an overall weakening of the EVA market.
Recently (11.13-11.20), EVA production has remained stable at around 8.5%, and there is still supply pressure in the EVA market. During the cycle, the price of raw material ethylene remained stable, while the price of vinyl acetate slightly decreased, and the cost faced weakened support from EVA. As of November 19th, the domestic price of ethylene in Sinopec East China was 6200 yuan/ton, which remained stable compared to the price on November 13th; As of November 19th, the market price of vinyl acetate in East China was 5650 yuan/ton, a decrease of 1.74% from 5750 yuan/ton on November 13th.
Recently (11.13-11.20), there has been a lack of significant positive support for the demand in the EVA market. Downstream photovoltaic and foam terminal orders have been slow to follow up, and spot digestion has been slow. Some EVA manufacturers have continued to lower their ex factory prices, resulting in a weak downward trend in the EVA market.
Future forecast: Overall, the cost support for EVA will weaken, and the demand for downstream photovoltaic and foam industries will weaken. In addition, there are plans for new equipment to be put into production in the later stage of EVA, and the overall fundamentals of EVA are weak. It is expected that the weak consolidation of EVA spot market will be the main trend in the later stage.
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