North America’s Ethyl Vinyl Alcohol Copolymer Market Showcases a Substantial Price Hike
- 22-Jun-2022 5:20 PM
- Journalist: Motoki Sasaki
Houston, USA: The Ethyl Vinyl Alcohol Copolymer market has been rallying uphill with a strong price trend in June across the United States. The primary driving factor propelling market expansion is the tight upstream Crude oil supplies in the North American region. Additionally, sanctions have been imposed by the United States on Chinese, Emirati, and a network of Iranian companies as it claims have helped export petrochemicals from Iran.
Last Thursday, the U.S. Treasury Department levied fines against two Hong Kong-based companies, three Iranian firms, four United Arab Emirates companies, a Chinese citizen, and an Indian national. The Treasury Department linked the actions and the talks to revive the 2015 Iran nuclear agreement. These sanctions have prompted the petrochemical traders to implement further price hikes for their downstream Ethyl Vinyl Alcohol Copolymer product lines. Meanwhile, the purchasing activity of downstream packaging and the automotive industry has also been significantly supporting the upward price trajectory. The onset of the peak driving season across the United States is projected to boost demand, as per our market sources. After a fire at its 205,000-barrel-per-day Houston, Texas, refinery on Monday, Valero Energy Corp. has issued the facility an all-clear and stated it had resumed normal operations. Also, the supply and demand fundamentals were still supportive of rising Crude oil prices.
Conclusively, according to the ChemAnalyst expert’s assumption, “the price trend of Ethylene Vinyl Alcohol Copolymer in the United States might continue to witness buoyancy. The North American regional market scenario is likely to show bullishness for the Ethyl Vinyl Alcohol Copolymer in the coming weeks. Constrained raw material supplies might further push up the existing robust demand fundamentals. However, the market dynamics are estimated to reverse course if upstream Crude oil price falls. In that case, the declined cost-side support may negatively impact the downstream packaging and automotive players.”