【EVA Weekly Outlook】Photovoltaic demand remains robust, EVA maintains a trend of fluctuation and consolidation

I. Focus Points

3/21: The market believes that the Asian economy and demand are expected to improve, coupled with the instability in the Middle East still bringing potential supply risks, international oil prices have risen. NYMEX crude oil futures for May contract at $68.28, up $0.21 per barrel, a sequential increase of +0.31%; ICE Brent crude oil futures for May contract at $72.16, up $0.16 per barrel, a sequential increase of +0.22%. China's INE crude oil futures main contract 2505 rose 9.3 to 531.3 yuan per barrel, and in the night session, it rose 4.4 to 535.7 yuan per barrel.

2, Ethylene: The low-priced March inventory has been largely pre-sold, but the poor performance of downstream and terminal markets still leaves a pessimistic sentiment. It is expected that the transaction range will be narrowly adjusted between 6950-7350 yuan/ton; the US dollar market is expected to remain at 840-860 USD/ton.

Vinyl acetate: Middlemen of vinyl acetate and some downstream users are digesting their previous stock, with limited new order negotiations. Some lower quotations have appeared, and the market's bearish sentiment has intensified. It is expected that there may be a narrow downward space for short-term market prices.

core logic: input format:Cost-wise, the market expectations for ethylene and vinyl acetate are weak, leading to a decrease in cost support. Strong demand from the photovoltaic sector provides some support, while the petrochemical supply side remains under no pressure and continues to prop up the market. The foam market demand follows the rigid demand without change, and the market may continue to operate in a sideways consolidation.

II. Price List

III. Data Form

Market Outlook

In the short term, the domestic EVA market may continue to maintain a mid-session consolidation trend. The favorable demand from the photovoltaic sector remains unchanged, and EVA producers continue to uphold their pricing stance. The supply of foaming spot goods remains tight, while downstream foaming end factories resist high-price purchases. The situation of weak supply and demand continues, and it is expected that the domestic EVA market will maintain a fluctuating consolidation trend this week. It is forecasted: soft material reference 11500-11800 yuan/ton, hard material reference 11300-11700 yuan/ton.

Five, Data Calendar