SunSirs: China EVA Market Continues to be Weak

　　In November, the EVA market continued to be weak, the price continued to fall, and the overall transaction atmosphere of the market was weak. According to the data monitoring of SunSirs, the average ex-factory price of domestic EVA was 24,200.00 RMB/ ton on October 31 and 22,000.00 RMB/ ton on November 11, with a decrease of 9.09% and 20.10% compared with October 1.

　　Recently, the domestic EVA market continues to decline, with obvious market bad, frequent bidding policies, suppressing the mentality of the industry, petrochemical enterprises reduce the factory quotation, the mentality of the merchants is general, giving priority to profit and shipping, and the downstream is cautious to enter the market with the mentality of buying up but not buying down. In addition, the market demand is weak, the overall transaction atmosphere is weak, and the firm offer focuses on a single discussion.

　　In the upstream ethylene market, the recent external ethylene market showed a shock downward trend as a whole. The price of ethylene in Asia is stable. As of November 11, CFR Northeast Asia closed at $1,156-1,166/ ton and CFR Southeast Asia closed at $1,071-1,081/ ton. The price of ethylene market in Europe fluctuated and fell. As of November 11, FD northwest Europe closed at $1,231-1,231/ ton and CIF northwest Europe closed at $1,182-1,190 / ton. The price of ethylene in the United States fell. As of November 11, the price was 779-797 RMB/ ton. Recently, the overall demand of the external ethylene market is poor, the market trading atmosphere is general, and the transaction is weak.

　　On the whole, the current market lacks obvious benefits, the downstream demand is not followed up, the market entry mentality is cautious, and the overall transaction atmosphere in the market is poor. Petrochemical enterprises reduce the ex factory price, the merchant mentality is pessimistic, and it is mainly to make profit and ship one after another. It is expected that China EVA market will continue to weaken in the short term.