Eva daily report: Market Weakly Stabilizes Amid Dull Sentiment

1 Today’s Summary

This week, the EVA petrochemical ex-factory prices are mainly firm, with some increases.

② This week, EVA petrochemical plants: GuLei Petrochemical underwent a major maintenance shutdown; Hongjing PV2 line was shut down; three EVA plants at YanShan Petrochemical have been idle for an extended period. All other plants operated stably.

2. Spot Market Overview

Table 1 Domestic EVA Price Summary (Unit: RMB/ton)

Today, the domestic EVA market remained weak but stable. Supported by cost-side factors, petrochemical producers’ initial weekly ex-factory and settlement prices were relatively firm. Agent quotations remained largely unchanged, but downstream demand was limited to essential purchases, resulting in lackluster trading activity. Inventory holders adjusted operations flexibly according to market conditions. Mainstream prices: soft-grade EVA at RMB 12,200–13,300/ton; hard-grade EVA at RMB 11,800–13,100/ton.

Figure 1 Domestic EVA Price Trend (RMB/ton)	Figure 2 Domestic EVA Price Trend by Type (RMB/ton)
Data source: Longtou Information	Data Source: Longzhong Information

3 Production Dynamics

Domestic EVA petrochemical plants: Sinochem Quanzhou produces high-pressure EVA; Jiangsu Sailboat’s tubular line produces photovoltaic-grade EVA V2825, while its autoclave line produces UE3315; Jiangsu Hongjing’s PV1 line produces photovoltaic-grade EVA V2825, PV2 line is shut down, and PV3 line produces photovoltaic-grade EVA V2815; Ningxia Baofeng produces rigid-grade 1803C; Yanchang Yulin produces 2825Y; Tianli Hi-Tech produces photovoltaic-grade EVA; Zhejiang Petrochemical’s Line 1 produces photovoltaic-grade EVA, while Line 2 produces foaming-grade 5120J; Gulei Petrochemical underwent a major maintenance shutdown from March 8 to April 20; all three EVA units at YanShan Petrochemical are shut down.

Additionally, the main soft-grade prices in the South China market range from RMB 12,200 to 13,200 per ton, and the domestic EVA industry's gross profit margin is around -RMB 1,300 per ton.

Figure 3 Domestic EVA Capacity Utilization Trend Chart	Figure 4 Domestic EVA Profit and Price Comparison (RMB/ton)
Data source: L&F Information System	Data source: Longzhong Information

4 Price Forecast

In the short term, the ongoing impact of geopolitical tensions in the Middle East is likely to support EVA petrochemical producers in maintaining firmer prices. An increasing number of petrochemical units are undergoing scheduled maintenance shutdowns, yet downstream buyers remain hesitant and reluctant to accept higher prices, only passively following price increases. With reduced supply confronting weak demand, market dynamics reflect a clear tug-of-war between supply and demand. Overall, the domestic EVA market is expected to remain range-bound in the near term.

5 Related product information

1Ethylene: On April 13, CFR Northeast Asia was stable at $1,425/ton, and CFR Southeast Asia was stable at $1,475/ton. Sinopec Huaxia Sales Company's ethylene price remains stable at 9800 yuan/ton, and Jinshan Liantao's ethylene price is also synchronized to 9800 yuan/ton.

2Vinyl acetate The mainstream negotiation price for non-Ethylene-based vinyl acetate in the East China market is 12,200. -12,800 yuan/ton, the mainstream negotiation for the carbide method is 12,400 yuan/ton, with a structurally limited supply of spot goods, low user inquiry activity, and few actual transactions, with higher offers showing more flexibility compared to earlier.

Table 2: Overview of Domestic EVA Data (Unit: 10,000 tons)