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

EVA: This week, PV-grade EVA prices were in the range of 10,000-10,250 yuan/mt. Recently, downstream film enterprises slowed down their procurement pace, and market trading sentiment was relatively sluggish. Some petrochemical enterprises entered a phase of inventory buildup, with the overall market showing an oversupply situation. On the demand side, module scheduled production declined, indicating relatively weak demand. Under the supply-demand mismatch, PV-grade EVA prices are expected to be under pressure.

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. On the cost side, PV-grade EVA prices fell significantly, weakening cost support. On the demand side, module scheduled production fell short of expectations. With both cost and demand weak, new order prices for film in November are expected to decline.

POE: The domestic delivery-to-factory price for POE was 10,000-13,000 yuan/mt. On the supply side, domestic petrochemical plant operations were unstable, and the overall market operating rate was low. Additionally, overseas petrochemical enterprises were still in their maintenance period, leading to a relatively tight spot supply situation in the market. However, due to weak performance on the demand side, POE lacks upward momentum, and prices are expected to remain stable in the near term.