Morning Market Outlook for Vinyl Acetate

I. Key Focus Points

1. Raw material prices: Glacial acetic acid (Jiangsu) at RMB 4,250/ton; Calcium carbide (Ningxia) at RMB 2,375/ton; Ethylene (Northeast Asia) at USD 1,160/ton.
2. Cost-side support has weakened.
3. Supply-side fluctuations are frequent.
4. Demand remains limited to rigid requirements, with few new orders concluded.

Core Logic: Fundamentals are under pressure, leading to weak market oscillation.

II. Price Table

Notes:

1. Vinyl acetate and polyvinyl alcohol refer to premium-grade products.
2. Prices for vinyl acetate and polyvinyl alcohol are in RMB per ton.
3. The RMB prices listed above are ex-works, cash-with-tax rates.
4. The two price columns represent point-in-time prices from the previous two working weeks prior to this week, not weekly averages.
5. The change rate indicates the period-over-period fluctuation.
6. Prices reflect market negotiation levels.

III. Market Outlook

Operating rates for vinyl acetate supply have declined. While major raw material costs remain at elevated levels, providing some bottom-line support, downstream demand continues to be sluggish. Users maintain inquiries only for rigid needs, and supply-side pressure persists. Attention should be paid to cargo flow directions. The short-term market is expected to see a wait-and-see consolidation phase.

IV. Data Calendar

Legend:

1. ↓↑ indicates significant volatility, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow-range fluctuations, highlighting data with changes within 0–3%.