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China's EVA prices will remain high in May

May 04/2011

(ICIS) -- China's ethyl vinyl acetate (EVA) prices will remain high in May and will possibly begin falling only in June, as major producers have yet to face inventory pressure despite weakening demand, industry sources said on Wednesday.

The price of EVA type 5110J was CNY20.600-20.700/tonne (USD 3.169-3.184/tonne) EXW (ex-works) in south China on 7 March and settled at the current high level of CNY21.000-21.100/tonne on 13 April, according to data from Chemease, an ICIS service in China.

The price of EVA type 7350M was USD 2.780/tonne on 28 March. It moved up USD 50/tonne on 29 March to USD 2.830/tonne CFR (cost & freight) CMP (China Main Port) and has remained stable, according to data from Chemease.

A supply crunch has exerted upward pressure on EVA prices since the third quarter of 2010 and widened the buy-sell gap.

Major producer Taiwan's Formosa Plastics Corp (FPC) is operating its 240 KTa EVA plant in Mailiao at nearly full rates, following a turnaround from 1 to 21 March, a company source said.

Besides downstream sectors such as footwear, EVA is used as a solar encapsulation resin in the manufacture of membranes in solar photovoltaic panels.

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