Ethylene Vinyl Acetate Price
Prices of feedstock Vinyl Acetate Monomer fell mostly because of depleting Acetic Acid feedstock costs and stabilizing energy prices in the US market. Prices for imported Vinyl Acetate Monomer have remained substantially less expensive than those for domestic sources. Production rates remained low because of consistent consumption rates on the domestic market. Production costs were constant despite dropping natural gas prices, and this led to consistently falling ethylene vinyl acetate price. The volume of imports from the Asia-Pacific area has increased as freight prices have reduced. The current winter saw a decline in demand for construction in the USA, which affected downstream sectors like paints and coatings, adhesives, and polymers.
Despite the fall in container rates, the declining trend of Asian shipments during Q1, 2023 was visible in various countries, including China and Southeast Asia. Additionally, the shipping market remained weak because of global inflation and restrained demand for EVA from downstream, as padding in sports-based equipment contributed to a large decline in freight prices. The market value of ethylene vinyl acetate price was hovering at USD 2424/ton, 28% FOB Tianjin during February in China. The demand for EVA declined due to lower procurement of the product, and this led to elevating inventories and a rise in the stock of raw material VAM with the traders and suppliers.
The market value of ethylene vinyl acetate price plummeted in the European market during Q1, 2023, with prices ranging at USD 2930/ton, 28% FOB Hamburg. The freight charges from Europe to China/ East Asia declined in an overall outlook which relieved the pressure from the prices of the product. The Producer Price Index for manufacturing in the European Union also depleted compared to the previous month. European markets close lower, especially in Germany, as inflation accelerated in the region, impacting the market sentiments of the Polymer & Resin-based industry. The domestic economy is slowing this year, which affects German road transport, while foreign trade drives truck transport. German market bemoans rail freight amidst easing energy in the region, although the Baltic freight index is running at low rates.
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