Ethyl Vinyl Alcohol Copolymer Prices to Remain Buoyant in Asia
- 20-May-2022 5:36 PM
- Journalist: Kim Chul Son
Delhi NCR, India: Ethyl Vinyl Alcohol Copolymer prices showcased an upward movement in the Asian market. Despite the prolonged lockdown restrictions, prices were seen going up in China. The major factor for the uphill pricing trend in Ethyl Vinyl Alcohol Copolymer has been the rising Crude value, surging demand, and inadequate supply.
According to the ChemAnalyst database, the continuing Russia-Ukraine conflict has caused the already skyrocketing crude oil to rise further. Additionally, the fuel costs are climbing daily, impacting the freight charges, which has a positive impression on the Ethyl Vinyl Alcohol Copolymer market dynamics. As per the latest monitoring data of ChemAnalyst, the CFR Qingdao price discussions inclined more than 2 percent while Ex-Mumbai price discussions were up by 1.7 percent.
As Ethylene is the primary feedstock used to produce various petrochemical derivatives, the robust demand and supply scarcity are propelling the prices of downstream Ethyl Vinyl Alcohol Copolymer across the Indian market. On the other hand, the growth of the packaging sector with increasing working populations and reliance on processed food showcased the enhanced terminal user requests for the Ethyl Vinyl Alcohol Copolymer in Asia.
Meanwhile, in China, Covid infections were dropping in Shanghai. No new infections were reported in the last five days, prompting ease in lockdown restrictions. As per our insights, the Chinese government plans to end the lockdown by 1st June. The tight supply of the product in the domestic market is likely to ease with the relaxation of port congestion. The traders are expected to ramp up the product volumes with increasing imports.
Conclusively, according to ChemAnalyst, "The rising demand for Ethyl Vinyl Alcohol Copolymer might continue to trace upward in the upcoming weeks. Expected ease in China's lockdown restrictions and resumed trade activities could increase the Ethyl Vinyl Alcohol Copolymer futures. However, input prices are likely to remain optimistic on the back of ongoing geopolitical tension in the East European region."