[SMM Weekly Review] Raw Material Prices Decline, Film New Order Prices May Fall Under Pressure

EVA: This week, PV-grade EVA prices were in the range of 10,000-10,400 yuan/mt. Recently, market trading activity has been sluggish, and bearish sentiment is relatively strong. On the supply side, PV-grade EVA is in a state of oversupply, with some petrochemical producers already entering an inventory buildup cycle. On the demand side, module scheduled production fell short of expectations, and film manufacturers are making just-in-time procurement. The supply-demand pattern is gradually shifting to oversupply, leading to a significant decline in EVA prices.

Film: The mainstream price range for EVA film was 13,500-13,700 yuan/mt, while the price range for EPE film was 13,900-14,000 yuan/mt. Affected by the sharp drop in the price of PV-grade EVA on the cost side, coupled with relatively weak demand for modules on the demand side, under the dual pressure from cost and demand, new order prices for film in November may come under pressure.

POE: The domestic delivery-to-factory price for POE was 10,000-13,000 yuan/mt. On the supply side, unstable operation of domestic petrochemical plant equipment has led to an overall low operating rate, and overseas petrochemical producers have entered a concentrated maintenance period, resulting in tight spot supply in the market. However, due to weak demand, POE prices may lack upward momentum.