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SunSirs: Downstream Demand is Good, China PMMA Prices Rises in March

March 28 2024 10:59:21     SunSirs (Selena)

According to the analysis system of the commodity market of SunSirs, as of March 26th, the average price of PMMA, a general transparent grade premium product in China, was 16,066.67 RMB/ton. PMMA prices mainly increased in March, with an overall increase of 2.12%, around 300 RMB/ton. Currently, the upstream MMA prices are showing a strong trend, and PMMA has some support on the cost side. Downstream demand is still acceptable. Currently, the overall market supply and demand of PMMA is balanced, with manufacturers mainly operating at high prices.

In March, PMMA prices were dominant, with an overall increase of 2.12%, around 300 RMB/ton. Currently, the mainstream market price is around 16,000 RMB/ton, and the operating rate of the PMMA market in March was around 64%. The operating rate of the upstream factory MMA was around 48%. The supply of PMMA in March was significantly lower than last month, with a decrease in on-site operating rate and supply side. Recently, it was announced that the MMA and PMMA New Materials Forum will be held in Suzhou from June 6th to 7th, 2024 to discuss the policies and market trends of the MMA and PMMA new materials industry, the latest technology and commercialization progress, the cost and environmental competitiveness of different route technologies, and investment in new projects. MMA integration with upstream and downstream, optical grade PMMA and other key downstream product planning, PMMA downstream application development and recycling, etc.

In terms of cost, MMA prices in March saw a narrow upward trend. Currently, factories have shown signs of pricing, with a focus on maintaining prices. The overall market negotiation is stable, with normal inventory consumption and average downstream procurement enthusiasm. On demand procurement is the main focus. MMA production is expected to be around 102,000 tons in March, a decrease of about 2.2% compared to last month, and an increase of about 8.9% compared to the same period last year. Currently, the overall market supply is balanced.

In terms of cost, the acetone market showed a stable and weak trend in March, with prices rebounding and rising in late March. Currently, the mainstream price of acetone in the market is around 7,250-7,300 RMB/ton, and port inventories decreased at the beginning of the week. Traders have a strong mentality of supporting prices, and the focus of market negotiations is currently high. The transaction atmosphere is good. In April, several phenolic ketone companies reported maintenance news, with maintenance time from the end of March to the end of April, which is about one month. During the maintenance period, the market supply will be reduced, and downstream PMMA will have some positive support on the cost side.

In terms of demand: Currently, the downstream demand for PMMA is still acceptable, and the procurement atmosphere is positive. With the popularity of power vehicles, PMMA, as one of the raw materials for producing automotive parts, is widely used in projects such as car lights, windshields, and windows. Due to its high strength, toughness, and wear resistance, it can effectively improve the safety and comfort of cars. Since March, the demand for power vehicles has increased, and there has been a shortage of supply, leading to a surge in the price of PMMA.

PMMA analysts from SunSirs believe that the current operating rate of the PMMA market is relatively stable, and the overall market supply and demand are balanced. Many manufacturers are mainly inclined to raise prices, and downstream demand is constantly increasing. There is a slight shortage of upstream supply. Although some companies have started to expand production, it will take some time to officially release production capacity, and the cost side has a certain supporting effect. Therefore, it is expected that PMMA prices will maintain a narrow and strong trend in the short term.


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