1. Focus Points

1. On March 27: The United States extended sanctions on some oil-producing countries, raising market concerns over potential supply risks, leading to an increase in international oil prices. NYMEXCrude oil futuresThe May contract for WTI crude oil is at $69.92, up $0.27 per barrel, a month-on-month increase of +0.39%; the May contract for ICE Brent crude oil is at $74.03, up $0.24 per barrel, a month-on-month increase of +0.33%. The main contract for China's INE crude oil futures, 2505, is up 4.0 to 543.4 yuan per barrel, with a night session drop of 0.4 to 543 yuan per barrel.

2. Ethylene: Currently, the market supply and demand are relatively loose, and the market power leans towards buyers. However, with ethylene prices loosening, the market inquiry atmosphere has slightly improved. Considering the above factors, it is expected that there may still be a narrow downward trend in the short term, but the expected range is relatively limited. In the USD market, there is currently a relatively ample supply of imported goods, and there are low-priced domestic sources, which weakens the advantage of USD sources. A narrow margin for concessions in the future cannot be ruled out. The expected transaction range is anticipated to maintain between 7000-7150 RMB/ton; the USD market is expected to be between 840-860 USD/ton.

Vinyl acetate: Acetic acidEthylene marketFrequent occurrence of low prices has led to increased bearish concerns in the market. Coupled with expectations that future maintenance reductions will be lower than anticipated, there is a high expectation of supply being relatively ample. Some earlier stockpiles still have a willingness to sell, and there are slight expectations of reduced demand for large orders downstream. Overall, the supply is relatively ample. Regarding the market trend for vinyl acetate next week, industry sentiment is bearish, and it is expected that market prices will continue to decline slightly. Attention should be paid to the flow of goods and changes in supply-side operating rates.

Core Logic:The cost of ethylene and vinyl acetate is running weakly, with weakened support from the cost side. The EVA supply side has no pressure to support the market, while downstream foam demand is following up as a necessity. Both supply and demand are weak, or they will maintain a stable and organized operation.

Price List

Market Outlook

Next week, the domestic EVA market may operate steadily with some consolidation. Supported by strong demand from the photovoltaic sector, petrochemical companies will continue to maintain price stability. However, downstream orders in the foaming sector are average, and demand remains weak, making it difficult to change the overall market sentiment. Market participants are cautious and watchful, with little room for significant price fluctuations. It is expected that the domestic EVA market will primarily show weak stability and consolidation. Mainstream market prices are expected to fluctuate between 11,200-11,600 yuan/ton for hard materials, 11,400-11,700 yuan/ton for soft materials, and 11,500-11,900 yuan/ton for photovoltaic materials.