[SMM Weekly Review] Demand Weakens, EVA Price Rise Limited

SMM April 18:

EVA: PV-grade EVA prices remained stable this week, with mainstream transaction prices maintaining at 11,550-11,950 yuan/mt, showing a high-level consolidation trend. Foam-grade and cable-grade EVA prices fell by 100 yuan/mt WoW. On the supply side, some petrochemical plants shifted production to PV-grade EVA, alleviating the tight spot supply to some extent. However, recent PV module prices showed a downward trend, and the installation rush significantly weakened. Additionally, EVA film prices for April remained stable, limiting the upward potential of PV-grade EVA prices. It is expected that EVA prices will fluctuate at highs in the near term.

Film: The mainstream price range for EVA film was 13,300-13,500 yuan/mt, while EPE film prices ranged from 15,200-15,500 yuan/mt, remaining stable. On the demand side, recent module price adjustments led to a slowdown in market demand. On the cost side, PV-grade EVA prices consolidated at high levels. With both demand and cost sides showing a slowdown, film prices are expected to remain stable for now. However, as demand continues to weaken, new film orders in May may show a downward trend.

POE: Domestic delivery-to-factory prices for POE remained stable at 12,000-14,000 yuan/mt. Although some petrochemical companies are expected to undergo maintenance, the installation rush has weakened, leading to a gradual slowdown in demand. Coupled with the release of new capacity in the later period, it is expected that PV-grade POE prices may show a downward trend.