Morning Market Update for Vinyl Acetate

I. Key Focus Points

1. Raw material prices: Acetic acid (Jiangsu) fell to CNY 4,425/ton; Calcium carbide (Ningxia) fell to CNY 2,400/ton; Ethylene (Northeast Asia) fell to USD 1,130/ton.
2. Cost-side support has weakened.
3. Multiple units on the supply side have shut down for maintenance.
4. Demand remains limited to essential needs, with few new transactions concluded.

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

II. Price Table

Notes:

1. Both Vinyl Acetate and Polyvinyl Alcohol refer to premium-grade products.
2. Prices for Vinyl Acetate and Polyvinyl Alcohol are in RMB, unit: CNY/ton.
3. All RMB prices listed above are ex-factory cash-in-advance inclusive of tax.
4. The two price points represent specific snapshots from the previous two working weeks prior to this week, not weekly averages.
5. The change rate represents the period-over-period fluctuation.
6. Prices reflect market negotiation levels.

III. Market Outlook

Operating rates for Vinyl Acetate production have declined. Upstream raw material prices have fallen, weakening cost-side support. Downstream demand remains sluggish, with insufficient follow-up on new orders. Inventory holders continue to face sales pressure. Given the pressured fundamentals, short-term market prices are expected to retain downward potential.

IV. Data Calendar

Notes:

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