Sluggish EVA demand in India to prevent the price from deviating significantly – 23 Sep 2014

EVA trading has become lackluster in Indian markets as demand from the footwear industry weakened. As a matter of fact, the footwear industry is the main consumer of the raw material in the country. In the context of the prevailing market conditions in respect to the polymer, a Mumbai-based trader told," Demand for EVA is sluggish, and stocks of the material are also ample. The price is most likely to remain stable at the prevailing rates."

Data available with the website shows that price of the material exhibited a slightly moderating trend during the last 30 days. In the Mumbai market, EVA price was recorded at Rs 132 per kg on September 22, 2014, the price is insignificantly lower than that recorded on August 22, 2014, at Rs 134 a kg. A similar trend has also been recorded in the Delhi market in respect to the material. On September 22, 2014, the price in the Delhi market was assessed at Rs 134 a kg, which is marginally lower than the price, at Rs 135 a kg, on August 22, 2014.

Price of Ethylene, however, has been exhibiting a mounting trend in key Asian markets. The latest price of the feedstock, as on September 22, 2014, was recorded at $1,514 per metric tonne on CFR South East Asia basis, which is higher than the price a month-ago, recorded at $1,494 per metric tonne CFR.

The prevailing market conditions imply that price of EVA will remain at around the prevailing rates in the coming days.