Chinese Poly Methyl Methacrylate market to remain soft throughout the month due to weak purchasing and hampered demand

In China, the General-purpose grade prices of Poly Methyl Methacrylate were observed to be hovering in the range of $2010/ton CFR Shanghai-$2250/ton CFR Shanghai with month-on-month declination of 0.7%. Feedstock Methyl Methacrylate (MMA) in China were also observed to be hovering around $1892/ton-$2049/ton DEL.

In China, the prices remained soft to stable due to deterred market and saturation of the product in the regional market. Most buyers retreated to the sideline for wait and see and are only buying for need to basis. However, the acetone costs increase recently pushed ACH process costs higher and limited Methyl Meth Acrylate supply since the most Methyl Meth Acrylate makers cut production rate. Furthermore, the market was for the most part muffled as impacted by the series of logistics limitations in the midst of the spread of Omicron since December, and the ensuing spread to Shanghai, Beijing, Guangxi, Tianjin, Henan, Chongqing regions. China government confined transportation which prompted higher cargo expenses and lower buying activities. The downstream interest of General purpose (GP) Polymethyl methacrylate (PMMA) stays frail, and some suppliers might have selling pressure. Most cast sheet producers hesitated to build their MMA inventories preceding the Lunar Chinese New Year occasion and ran at low operation rate or shut down.

According to ChemAnalyst, it is expected that the market of Poly Methyl Methacrylate in China will improve with increase in production and revival demand. Feedstock Methyl Meth Acrylate prices are also expected to improve as the low inventories and surging demand will create pressure on the enterprises to fulfil the demand from the consumer’s end. Methyl Meth Acrylate supply is more likely to remain tight between February and March therefore hesitate to reduce Methyl Meth Acrylate prices across the board. Consumption of Poly Methyl Methacrylate in Automobile industries will increase which will further push the prices to new heights.