SunSirs: Weak Demand, China EVA Market was Weak

　　According to the data monitoring of SunSirs, the average price of domestic EVA market was 18,100.00 RMB/ ton on July 1, and 18,033.33 RMB/ ton on July 21, with a decrease of 0.37% during the period, 8.31% lower than that on June 1. At present, the market demand is weak, the overall trend of EVA market is still weak, and the ex factory price and market quotation have been reduced to varying degrees.

　　In July, the EVA market did not continue the decline in June, but entered the consolidation stage after the decline. The factory price was mainly stable in the first half of the month, and it didn’t decrease in a narrow range until July 19. At present, the offer is stable, and the overall market is still weak. At present, there is no new news guidance in the market. The downstream multi-dimensional firm holding needs to be supplemented. The market transaction atmosphere is general, and the overall transaction rhythm is slow, and there is no obvious improvement. Some brands have tight supply, which has some support, but the operators are more cautious and wait-and-see.

　　In the international crude oil market, on July 21, the international oil price rose sharply. The settlement price of the main contract in the WTI crude oil futures market of the United States was $70.32/ barrel, up $3.12, or 4.64%. The settlement price of the main contract in the Brent crude oil futures market was $72.23/ barrel, up $2.88, or 4.20%. Although US commercial crude oil inventories increased for the first time in eight weeks, market risk index preference improved and oil prices rebounded sharply.

　　Recently, the external ethylene market has shown an overall upward trend, with good demand, active procurement, good transaction, and the focus of ethylene market has shifted upward.

　　Overall, the current rebound in international crude oil and the rise in ethylene have brought some support to the market. However, the current downstream demand is weak, and there is no obvious improvement for the time being. The demand for photovoltaic is still on the wait-and-see. In terms of supply, the new production capacity has brought a certain impact, and the operators are more cautious. China EVA prices are expected to continue be weak in the short term.