SunSirs: China PMMA Market Trend Upward in January, 2024

According to the analysis system of the commodity market of SunSirs, as of January 29th, the average price of PMMA, a general transparent grade premium product in China, was 15,666.67 RMB/ton. In January, the overall price of PMMA increased by 5.86%, reaching around 1,000 RMB/ton. Currently, the focus of negotiations is relatively high.

In January, the overall PMMA market showed an upward trend. The price at the beginning of January was 14,800 RMB/ton, and the price at the end of January was 15,666.67 RMB/ton, an increase of 5.86%. The upstream acetone raw material price increased, and the cost support was favorable. PMMA prices were pushed up, and Zhejiang Petrochemical delayed the restart before the holiday. Some enterprises had temporary parking, resulting in a tight supply side and a slight increase in industry quotations. Currently, downstream demand is limited, and cost transmission is lagging, The shipment of terminal products is average, and the overall PMMA market quotation is relatively high. The downstream production of PMMA is mainly stable, and the focus of negotiations has shifted upwards.

On January 28th, the rubber index was 667 points, unchanged from yesterday, a decrease of 37.08% from the highest point in the cycle of 1,060 points (2012-03-14), and an increase of 26.33% from the lowest point of 528 points on April 6th, 2020. (Note: The cycle refers to 2011-12-01 present).

PMMA analysts from SunSirs believe that PMMA will maintain a stable, medium to strong trend in the short term. Upstream companies have delayed restarting, and some companies have temporarily shut down. Currently, the supply side is tightening, and there is insufficient supply spot. It is difficult for the supply side to recover in the short term, and the market still has some support.

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