The price of DOP rose in shock this week

According to the data monitoring of the Business Agency, as of February 24, the price of DOP was 9960 yuan/ton, up 0.40% from the price of 9920 yuan/ton on February 17. Cost pressure remains, and the DOP market rose slightly this week.

The price of raw material isooctanol fell first and then rose

According to the price monitoring of the Business Agency, as of February 24, the price of isooctanol was 9533.33 yuan/ton, up 0.35% from 9500 yuan/ton on February 17. Downstream demand is still weak. Downstream customers mostly replenish stocks on Monday and Tuesday. With the increase of replenishing stocks, the price of isooctanol stopped falling and rose. The price of isooctanol fluctuated and adjusted this week. The cost support of DOP raw materials still exists, and the power of DOP price rise still exists.

The market of raw material phthalic anhydride recovered

According to the price monitoring of the business agency, as of February 24, the price of ortho phthalic anhydride was 8325 yuan/ton, up 0.45% from the price of 8287.50 yuan/ton on February 17. The price of o-xylene rose, and the price of phthalic anhydride was strong. The price of phthalic anhydride rose slightly this week, while the upward momentum of DOP remained.

Aftermarket expectation

DOP data analysts of the Business Agency believe that the price of isooctanol, the raw material, rose slightly this week, while the price of phthalic anhydride remained high, and the cost of DOP rose; The demand side support is limited, and the downstream is more likely to follow the fall to cover the stock. The DOP is mixed, and there is still a downside risk in the short term. In the future, DOP cost shock and consolidation demand support is limited, and DOP price shock and consolidation are expected.

According to the monitoring data of the Business News Agency, as of February 22, 2023, the market price of domestic industrial grade propylene glycol was 8966 yuan/ton. Compared with February 1 (the reference price of propylene glycol was 8066 yuan/ton), the price increased by 900 yuan/ton, or 11.16%. On February 22, the domestic market price of propylene glycol was around 8800-9300 yuan/ton.

It can be seen from the data monitoring chart of the business agency that from February to now (2.1-2.22), the overall domestic propylene glycol market has shown a steady upward trend. The main driving force supporting the continuous rise of the propylene glycol market is mainly from the joint support of raw material cost, on-site supply side inventory and demand. Let’s look at the supply, cost and demand of propylene glycol from February to now.

In terms of cost: the market of propylene oxide as raw material keeps rising, the support given by the cost of propylene glycol keeps increasing, and the focus of the propylene glycol market keeps getting closer.

In terms of supply: At present, domestic propylene glycol pre-holiday maintenance devices have been started in succession, and some factories mainly deliver export orders in the early stage, so the overall inventory of propylene glycol in the field is relatively controllable.

Demand: In February, the downstream demand for propylene glycol in China was gradually released. After the digestion of some downstream raw materials, the demand for propylene glycol market performed well at the stage, and the overall demand for propylene glycol was given some support.

Future trend analysis

At present, with the gradual warming of the weather, the downstream demand of the terminal will gradually recover. The propylene glycol field operators have expectations. The propylene glycol statistician of the business agency believes that in the short term, the domestic propylene glycol market will mostly continue to run at a high level, and the specific trend needs to pay more attention to the changes in the information on the supply and demand side.

From February 10 to February 17, 2023, the bidding price of crude benzene increased by a narrow margin, from 5593 yuan/ton at the end of last week to 5681 yuan/ton at the end of this week, with a weekly increase of 1.57%.

The crude oil in the week of February 17 fell for four consecutive trading days. The core logic is the supply and demand game under the influence of macro pressure, and the bearish atmosphere in the market is intensified. Oil prices fell sharply on Friday, nearly 3%. The settlement price of the main contract of US WTI crude oil futures was US $76.55/barrel, down US $2.19 or 2.8%. The settlement price of the main contract of Brent crude oil futures was US $83.00/barrel, down US $2.14 or 2.5%. The market is worried that further interest rate hikes in the United States will drag down demand, and the oil market will suffer from a sharp increase in crude oil and refined oil storage. On the macro level, the US economic data showed strong performance, and the Fed officials made many statements to show hawkish behavior. The data released by the U.S. Department of Labor on the 14th showed that the inflation situation in the United States rebounded in January, with CPI rising 6.4% year on year. The month-on-month increase was 0.5%, the highest since October 2022. Both the month-on-month and year-on-year growth exceeded the market consensus. The market worries that the Federal Reserve will continue to raise interest rates are rampant, which brings pressure to the crude oil market. According to the crude oil analysts of Business News, in the short term, the negative feedback of the market to the macro pressure is gradually digested, and the oil market’s falling space may be narrowed. The game between supply and demand will continue to dominate the market. In the future, the supply side needs to pay attention to the actual implementation of the re-release of reserves in the United States, and the demand side needs to pay attention to China’s crude oil imports and refined oil consumption.

The ex-factory price of Sinopec pure benzene increased by 100 yuan/ton on January 13, 2023, and the current price is 6950 yuan/ton.

Other enterprises: Jingbo Petrochemical quoted 7330 yuan/ton, HSBC Petrochemical quoted 6900 yuan/ton, Weilian Chemical quoted 6853 yuan/ton, Xinhai Petrochemical quoted 6900 yuan/ton, and Hongrun Petrochemical quoted 6900 yuan/ton.

The commodity price K-bar chart uses the concept of price trend K-line to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investments according to the changes in the K-bar chart. Red indicates: rising; Green means: down; The height of the K column indicates the range of rise and fall. The weekly K-column chart of pure benzene shows that after entering July, the price of pure benzene continued to decline, slightly recovered at the end of August and the beginning of September, and the price mainly decreased from October to December, and recovered in January and fluctuated in February.

In the aspect of industrial chain: the price of pure benzene market this week was mainly volatile. At the beginning of the week, the price of pure benzene market rose slightly under the boost of styrene market. The market negotiation atmosphere was good, the trading was positive, and there was a certain deal in the market. After the continuous decline of crude oil in the middle and late stages, the market mentality was dragged down, and the styrene market weakened. Under the dual impact, the pure benzene market was weak, the enthusiasm of downstream procurement slowed down, the overall market was weak, and the price declined slightly. The hydrogenation benzene market was mainly weak this week under the influence of the continuous decline of crude oil and the trend of the industrial chain, and the price of the main production area fell to about 6800 yuan/ton.

The crude benzene market fluctuated in a narrow range this week, with a slight increase. The main production area in Shandong Province is 5750 yuan/ton, a slight increase of 50 yuan/ton compared with last week. On the supply side, the operating rate of coking enterprises increased slightly this week, and crude benzene supply was slightly loose. In terms of demand, the hydrogenation benzene market is still in operation, and the demand for crude benzene still exists. This week’s slight price increase was mainly affected by the overall high and volatile operation of the industrial chain. In general, crude benzene demand still exists, but the recent trend of crude oil fluctuates greatly, and the market guidance is insufficient. The price of hydrogenation benzene market is slightly down this week under the pressure of the downstream. It is expected that the crude benzene price will be mainly adjusted in a narrow range. The future market will focus on the impact of the trend of basic products such as crude oil and styrene on the market mentality.

This week, the lead market (2.10-217) fluctuated and fell. The average price of the domestic market was 15235 yuan/ton at the end of last week, and 15030 yuan/ton at the end of this week, down 1.35%.

The commodity price K-bar chart uses the concept of price trend K-line to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investments according to the changes in the K-bar chart. Red indicates: rising; Green means: down; The height of the K column indicates the range of rise and fall. Since the market entered September, the expectation of downstream battery enterprises in the peak season has increased, driving the price of primary lead to rise. After the end of the peak season, the price continued to weaken, and the price rose slightly after the holiday.

In terms of the futures market, in terms of the macro aspect of the week, the U.S. CPI data in January fell less than expected, while the PPI data growth exceeded expectations, and the overall performance of the economic data was poor. The upward metal market of the US dollar index was generally under pressure. Affected by the expectation of the Federal Reserve’s continuous holiday, the futures market was volatile and fell during the week. Lun Lead fell more than 1%, with an operating range of 2020-2120 US dollars/ton, while Shanghai Lead fell 1.46%, with an operating range of 15050-15400 yuan/ton.

The spot market was generally down this week, and the wait-and-see sentiment in the domestic market was relatively strong. With the end of the holiday, the smelter has basically resumed normal production. At present, the overall operation is relatively stable, and the renewable lead is also basically on the right track. However, due to the impact of corporate profits, the current operating rate of renewable lead is low, the overall supply of lead ingots is relatively stable, and the domestic stock accumulation is relatively obvious. In terms of demand, downstream battery enterprises have slightly increased their demand for lead ingots, but the overall demand for lead ingots is still based on demand. In general, the lead ingot market has basically returned to normal operation, and the market supply and demand have increased. This week, the price has declined under the dual impact of the macro superimposed inventory. It is expected that the future market will still remain volatile, mainly focusing on the macro impact.

February 17, 2022 London Metal Exchange (LME) lead inventory 25000 tons (unit: tons)

The non-ferrous index stood at 1175 points on February 19, unchanged from yesterday, down 23.60% from the highest point of 1538 points in the cycle (2021-10-18), and up 93.57% from the lowest point of 607 points on November 24, 2015. (Note: the period refers to 2011-12-01 to now).

According to the price monitoring of the Business News Agency, there were three commodities in the non-ferrous sector in the list of commodity prices rising and falling in the 7th week of 2023 (2.13-2.17). The top three commodities were titanium concentrate (2.09%), copper (1.46%) and antimony (0.58%). A total of 19 commodities fell on a month-on-month basis, with dysprosium oxide (- 4.44%), dysprosium ferroalloy (- 4.25%) and praseodymium neodymium alloy (- 4.00%) among the top three products. This week’s average rise and fall was -1.44%.

Domestic price trend of paraxylene:

It can be seen from the p-xylene trend chart that the price trend of this week is temporarily stable. As of the end of the week, the domestic ex-factory price of p-xylene was 8500 yuan/ton, which is the same as the price of 8500 yuan/ton at the beginning of the week, with a year-on-year increase of 6.25%.

The domestic paraxylene supply is normal, and the domestic PX operating rate is about 70%. The external dependence of PX products is about 29%, and the external price of PX has fallen slightly recently. As of the 16th, the closing price of the Asian paraxylene market was 998-1000 yuan/ton FOB South Korea and 1023-1025 dollars/ton CFR China. The external price was negative for the domestic market. The recent operating rate of PX plants in Asia was normal. On the whole, the operating rate of paraxylene plants in Asia was about 60%, and the price trend of the domestic paraxylene market was temporarily stable.

The price of crude oil rose slightly this week. As of the 16th, the settlement price of the main contract of WTI crude oil futures in the United States was US $78.49/barrel, and the settlement price of the main contract of Brent crude oil futures was US $85.14/barrel. The earthquake in Türkiye caused the interruption of transit crude oil exports, and the oil fields in Norway, Colombia and Kazakhstan reduced production to varying degrees, leading to the rise of crude oil prices. The International Energy Agency (IEA) said in its monthly report disclosed on February 15 that in the first half of 2023, the global oil supply is expected to exceed the demand, and the Federal Reserve’s continued interest rate increase will help the trend of inflation to slow down. The growth of Asian demand has led to the rise of international oil prices, and the domestic paraxylene market price is temporarily stable due to the high crude oil price.

The price trend of the downstream PTA market declined this week. As of the 17th, the average price of the PTA market was 5500-5550 yuan/ton, down 1.77%. In terms of PTA supply, PTA starts this week are relatively stable. At present, the industry starts around 80%. Affected by the rise of crude oil price, the PTA market price decline is limited. Many downstream polyester enterprises are still actively resuming work, the operating rate is in the process of gradual improvement, and the consumption of PTA is rising. In terms of terminal weaving, the operating rate is also in the process of seasonal increase. As of February 15, the comprehensive operating rate of Jiangsu and Zhejiang looms has increased to more than 50%. However, because there was a round of centralized replenishment in the downstream before the Spring Festival, the stock of raw materials was mostly not low, and the order performance of the terminal was poor. The willingness and potential to continue replenishment after the year were low, and the recovery rate of demand was slow. On the whole, the downstream market recovered slowly, and the price trend of paraxylene was temporarily stable.

Chen Ling, a PX analyst at the Business Agency, believes that the current oil market is playing a long and short game, and the recovery of demand in Asia has brought some benefits, but the risk of economic recession in Europe and the United States still exists, and the oil market will still face fundamental pressure in the future. The terminal downstream operating rate will rise, the downstream demand is expected to rise, and the PX market supply is normal. It is expected that the market price of paraxylene will rise slightly in the future.

Since February, the bisphenol A market has continued to decline and entered a downturn. Although the raw materials have continued to rise, the low demand of bisphenol A market has hardly changed. On February 1, the market negotiated at 10275 yuan/ton, and on February 16, the market negotiated 9700-9900 yuan/ton, and the market fell 3.04%. Under the game of market supply and demand and cost, it is difficult to break the situation.

Low demand is the main factor that makes it difficult to improve the bisphenol A market

It can be seen from the bisphenol A industry chain diagram that the downstream is mainly epoxy resin and PC products, and the supporting enterprises are mostly self-use. Although the operating rate of epoxy resin and PC in the downstream has increased significantly, and the consumption of bisphenol A has increased, the demand side of epoxy resin and PC is insufficient, and the market is in a continuous downturn, with fewer terminal purchase orders. In addition, it is difficult to maintain contracts for the digestion of raw materials, and it is difficult to have outsourcing plans, and the demand side is difficult to support bisphenol A.

The double raw material phenol/acetone continued to rise, and the falling space of bisphenol A narrowed under the pressure of cost.

The raw phenol continues to rise. Affected by the relatively small number of port arrivals and the shortage of port stocks and the expected improvement of exports, the phenol market performance is strong, and the factory has repeatedly raised the listing price under the pressure of cost. On the 16th, Sinopec East China phenol listing price was again raised by 100 to implement 8150 yuan/ton, and the reference of the East China market was 8100-8150 yuan/ton. Although the market transaction was flat after the terminal demand just needed to follow up, the export and the latest arrival of the port were delayed to March and other news, The phenol market remains high in the short term. Acetone, another important raw material, continued to rise. On the one hand, the external market rose and the export was expected to improve. On the other hand, the downstream products were profitable and acceptable for high-priced raw materials. In February, the acetone market in East China continued to rise. The domestic acetone market was quoted at 5195 yuan/ton on February 2 and 5587 yuan/ton on February 16, up 7.56%. Sinopec North China continued to raise 200 yuan/ton to 5650-5700 yuan/ton on February 16. The short-term acetone market remained high and firm.

The supply is sufficient, and the pressure on traders to ship goods increases.

At present, the operating rate of bisphenol A industry is between 80% and 90%. In addition, there are many new capacity before, and under the high operating rate, the supply of bisphenol A spot market is sufficient. Most of the two main downstream of bisphenol A are supporting devices. Under the situation of terminal downturn, the downstream mostly digested the limited amount of contracted off-contract production, and it is difficult to have demand for the market flow of goods. Under the pressure of traders’ shipment, there is a real intention of continuous yield.

From the perspective of the business community, under the downturn of market demand, in the game of cost and supply and demand, the recent bisphenol A market is difficult to break. The raw material phenol/acetone continues to rise, the cost of bisphenol A plant is online and offline, and the market focus has stopped falling in the short term, while the demand side is difficult to be stimulated by good news. It is expected that bisphenol A will fluctuate with a high probability around the cost, and will continue to pay attention to the raw material market situation and downstream demand information in the later stage.

441 # silicon price trend

The spot price of silicon metal continued to show a downward trend this week. Affected by the slow recovery of demand after the Lantern Festival, downstream inquiries increased, and prices stopped falling near Friday, while some specifications stopped falling and went up. As of February 10, the average price of domestic 441 # silicon metal market was 17930 yuan/ton, down 0.22% month-on-week. The futures market rose mainly on Wednesday and Thursday, closing at 17955 yuan/ton for the whole week, with a weekly increase of 1.18%.

The price of 441 # silicon in each region on the 10th is as follows:

The price range of # 441 metal silicon in Huangpu Port area is 17700-18000 yuan/ton, with an average price of 17850 yuan/ton; The price range of # 441 metal silicon in Tianjin Port area is 17600-17800 yuan/ton, with an average price of 17700 yuan/ton; The price range of # 441 metal silicon in Kunming is 17800-18100 yuan/ton, with an average of 17950 yuan/ton; The price range of # 441 metal silicon in Sichuan is 17600-17700 yuan/ton, with an average of 17650 yuan/ton; The price range of Shanghai # 441 metal silicon is 18400-18600 yuan/ton, with an average price of 18500 yuan/ton.

Influential factors of falling price of metal silicon

Supply:

The total number of silicon metal furnaces opened this week was 317. As of February 10, the silicon metal furnace opening rate was about 44.59%, 147 in Xinjiang, 27 in Sichuan and 52 in Yunnan. Xinjiang and Inner Mongolia continue to increase supply. The cost pressure in Southwest China is significant, and the operating rate is low, especially in Sichuan.

Demand:

Polycrystalline silicon rebounded sharply, with the mainstream price range of 215-240000 yuan/ton, up 13.9% in the week. The unit operating rate of silicon material enterprises remains at the normal level, but after the festival, the silicon wafer manufacturers start to work, and the demand surges, and the silicon material manufacturers generally push up, and the price in the later stage may continue to narrow due to demand constraints; The price of aluminum alloy ADC12 rose by 100 yuan/ton, and the mainstream quotation was 19400 yuan/ton. The demand of aluminum alloy enterprises recovered slowly, and the consumption of new energy vehicles in the downstream was depressed; The domestic silicone DMC market started to rise, with the price reference at 17140 yuan/ton. Organosilicon profits were repaired, and the enthusiasm of the downstream was improved. It is expected that it will continue to operate stably, moderately and strongly in the short term.

Aftermarket forecast

In general, at present, the supply side of silicon metal has maintained a preliminary pattern, with the high starting point in the north and the low spot price in the southwest. The demand for organosilicon on the demand side has gradually improved, and the construction has been repaired; The polysilicon industry chain remained prosperous and the demand for metallic silicon continued to improve. Analysts from the Business News Agency believe that short-term metal silicon price support appears and there are signs of stabilizing.

1、 Price trend

It can be seen from the above figure that the domestic isobutyraldehyde market price rose slightly this week. This week, the average price of domestic isobutyraldehyde mainstream market rose from 8266.67 yuan/ton at the end of last week to 8566.67 yuan/ton at the end of this week, up 3.63%. Compared with the same period last year, it fell 51.51% year on year. The isobutyraldehyde commodity index on February 12 was 43.49, which was the same as yesterday, down 58.81% from the cycle’s highest point of 105.58 (2021-09-16), and up 44.39% from the lowest point of 30.12 on October 7, 2022. (Note: the period refers to the period from September 1, 2021 to now)

2、 Market analysis

The prices of mainstream isobutyraldehyde manufacturers rose this week.

From the perspective of the upstream and downstream industrial chain, the propylene market in the upstream raw material market of isobutyraldehyde fell slightly this week, with the price falling from 7623.25 yuan/ton at the beginning of the week to 7558.25 yuan/ton at the end of the week, down 0.85%. The market price of upstream raw materials fell slightly, and the cost support weakened. Affected by the supply and demand side, it had a negative impact on the price of isobutyraldehyde. From the perspective of the downstream industry chain, the market price of neopentyl glycol rose from 10233.33 yuan/ton at the end of last week to 10866.67 yuan/ton at the end of this week, up 6.19%. The market price of neopentyl glycol rose slightly and the downstream demand increased, which had a positive impact on isobutyraldehyde.

3、 Future prospects

The market trend of isobutyraldehyde in the middle and late February may be volatile. The upstream propylene market fell slightly and cost support weakened. The market price of neopentyl glycol in the downstream rose slightly, and the enthusiasm of downstream procurement increased. The isobutyraldehyde analyst of the Business Club believes that the short-term isobutyraldehyde market may be mainly subject to a small fluctuation under the influence of supply and demand, raw materials and other aspects of the isobutyraldehyde market.

Domestic price trend of paraxylene:

It can be seen from the p-xylene trend chart that the price trend of this week is temporarily stable. As of the end of the week, the domestic ex-factory price of p-xylene was 8500 yuan/ton, which is the same as the price of 8500 yuan/ton at the beginning of the week, with a year-on-year increase of 6.25%.

The domestic paraxylene supply is normal, and the domestic PX operating rate is about 70%. The external dependence of PX products has dropped to about 30%, and the recent price trend of PX external market has increased. As of the 9th, the closing price of paraxylene market in Asia was 1026-1028 yuan/ton FOB Korea and 1051-1053 dollars/ton CFR China, and the rise of external market price is good for the domestic market. Recently, the operating rate of PX units in Asia is normal. Overall, the operating rate of paraxylene units in Asia is about 60%, and the price trend of domestic paraxylene market is temporarily stable.

The price of crude oil rose this week. As of September 9, the settlement price of the main contract of WTI crude oil futures in the United States was US $78.06/barrel, and the settlement price of the main contract of Brent crude oil futures was US $84.50/barrel. On the macro level, driven by the unexpected non-agricultural employment data, the US dollar index rebounded strongly, rising sharply on the third day, with a rebound of nearly 1.2%, which put valuation pressure on commodities and risky assets denominated in US dollars. Crude oil was obviously under pressure, and the oil price hit a one-month low on the fifth day. The pressure on the supply side coexists, and the decline of Russian oil supply is not obvious, although the EU and the Group of Seven (G7) countries have officially implemented the embargo and price ceiling measures on Russian oil products since February 5. However, the data shows that with the support of more Asian buyers, Russia’s oil supply performance is strong, the international oil price trend is rising, and the domestic paraxylene market price is temporarily stable due to the high crude oil price.

The price trend of the downstream PTA market declined this week, and the average price of the PTA market was 5600-5650 yuan/ton as of the 10th, with a decline of 2.52%. In terms of PTA supply, PTA starts this week are relatively stable. At present, the industry starts around 73%. Affected by the rise of crude oil price, the PTA market price decline is limited. Some downstream staple fiber devices were restarted, and the downstream cotton mills and weaving mills resumed their operations slowly. The operation was still at a low level and only sporadic purchases were needed. The staple fiber enterprises accumulated stocks, and the staple fiber futures fell along with the cost. However, staple fiber enterprises are optimistic about the recovery of future demand. This week, the trading atmosphere of the yarn market has gradually recovered. With the recovery of logistics and downstream acceptance capacity, the delivery of the yarn factory is gradually normal. The trading atmosphere of pure polyester yarn and polyester cotton yarn market has gradually recovered, and the prices of various grades of yarn have increased to different degrees compared with the year before. On the whole, the downstream market has increased, and the price trend of paraxylene is temporarily stable.

Chen Ling, a PX analyst at the Business Agency, believes that the current oil market is playing a long and short game, and the recovery of demand in Asia has brought some benefits, but the risk of economic recession in Europe and the United States still exists, and the oil market will still face fundamental pressure in the future. The terminal downstream operating rate will rise, the downstream demand is expected to rise, and the PX market supply is normal. It is expected that the market price of paraxylene will rise slightly in the future.

Price trend

Recently, the domestic EVA market rose positively, and the spot price rose significantly one week after the holiday. According to the data monitoring of Business News Agency, as of the eve of the holiday on January 19, the average ex-factory price of domestic EVA was 13800 yuan/ton, and as of February 6, the average price was 15500 yuan/ton, with a range increase of 12.32%.

Cause analysis

Raw materials:

At present, the market of ethylene at the raw material end is stronger, and the supply end has the news of equipment maintenance of major Southeast Asian plants. The market supply is reduced, and the supplier’s mentality is strong. Downstream users purchase more after the holiday, and the domestic demand for ethylene is increased due to the impact of new projects. The market trading is good, and the prices quoted by merchants are rising. In terms of vinyl acetate, domestic factories are lagging behind in resuming work and the market is limited in stock. However, most of the downstream is to digest the pre-year inventory and contracts. The momentum of the market in the market is general, and the price is stable and small. Once the raw materials have risen and stabilized, the support for EVA is moderate.

Supply:

Since the resumption of work after the holiday, the load of domestic EVA production enterprises has increased from about 80% before the holiday to 91%, and the total output in the week after the holiday is about 41300 tons. The market supply is stable, the factory inventory pressure is low, and the supplier has some support for the spot goods. The ex-factory price of the manufacturer has risen sharply, and the auction source price has also risen. Recently, the spot price has generally increased by more than 1000 yuan/ton.

Demand:

In the early stage, the demand for EVA fell due to holidays, and in the near future, the downstream gradually resumed work, and the market trading is expected to rise. The demand for photovoltaic materials is expected to be slightly better than that for foaming materials. At the same time, downstream factories also have pre-season inventory and contracts to be digested. Next week, the demand pull may be biased to just need replenishment, but the overall direction of demand increase remains unchanged.

Aftermarket forecast

In general, the recent EVA market has been rising rapidly, and the main positive factors come from the strong thrust of fundamentals. The overall strength of the raw material market supported the EVA spot market. Downstream enterprises resume work after the holiday to activate demand, replenish stock and follow up gradually, and the market traffic is expected to be good. At the same time, the EVA polymerization plant has no pressure on inventory, the ex-factory price has increased, the mentality of merchants has been strengthened, and the offer has risen. It is expected that the domestic EVA market will continue to rise due to the gradual release of demand.