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EVA prices in Asia fell to a 16-month low

December 20/2011

(ICIS) -- Ethylene vinyl acetate (EVA) prices in Asia fell to a 16-month low because of weak demand, which is expected to continue through January as trades typically slow down towards the Lunar New Year festivities, industry sources said on Tuesday.

China, which is a major EVA importer, will be on a week-long holiday from 22-28 January.
In the week ended 13 December, spot prices for EVA with 18% vinyl acerate (VA)-content were assessed at USD1,750-1,900/tonne (EUR1,348-1,463/tonne) CFR (cost and freight) CMP (China Main Port) - levels last seen in mid-August 2010, according to ICIS. EVA values have shed nearly 30% from early October, the data showed.

Some producers have been shifting to producing more low density polyethylene (LDPE) at their EVA/LDPE swing plants because of poor EVA margins and soft demand, industry sources said.

Demand from the footwear/sandals sector - the main downstream of EVA - is weak as most buyers buy cargoes just to cover their minimum requirement and are not building inventory this year, traders said.

Some buyers in the solar panel industry have already stopped procurement for EVA with 30% VA content because of poor demand that is not expected to recover until the second half of 2012, market sources said.

As the years end is approaching, no one wants to build inventory, a northeast Asia trader said.
Buyers in China dont buy cargoes at large quantities given the volatile market. In January, I think the demand will be worse as China will celebrate its important one-week holiday and most of downstream small factories will shut down earlier, even in early January, an EVA producer said. 

Author:Marina Ivanova
Category:General News
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