SunSirs: The PMMA Market Was Mainly Weaker in a Narrow Range (October 13-20)
October 23 2023 14:56:59 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of October 20th, the average price of PMMA, a general transparent premium product in China, was 14,633.33 RMB/ton. This week, the price of PMMA showed a narrow and weaker trend, with a price drop of 0.23% compared to the same period last week. Downstream procurement was mainly on demand, and the negotiation center was stable.
Analysis review
This week, the general transparent grade premium product PMMA in China showed a stable and weaker trend, with prices dropping by 0.23% compared to the same period last week. The purchasing atmosphere was average, and downstream demand was insufficient. As of October 20th, the quotation range of mainstream manufacturers was still around 14,600 RMB/ton. The operating rate was stable, and the overall market supply and demand was balanced. Manufacturers were willing to give up profits for sales, and the cost support was weak. Downstream procurement was mainly based on demand, and there was no obvious willingness to hoard, Enterprise quotation: Shanghai Hongqi Plastic Technology Co., Ltd. offered a price of 14,800 RMB/ton.
Rubber and Plastic Index: On October 19th, the rubber and plastic index was 677 points, a decrease of 2 points from the previous day, a decrease of 36.13% from the highest point in the cycle of 1,060 points (2012-03-14), and an increase of 28.22% from the lowest point of 528 points on April 6, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).
Market outlook
PMMA analysts from SunSirs believe that in the short term, PMMA will remain weak and stable, with a limited range of price fluctuations.
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