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Global Markets are Witnessing a Continuous Plunge in Methyl Methacrylate Prices

Global Markets are Witnessing a Continuous Plunge in Methyl Methacrylate Prices

Global Markets are Witnessing a Continuous Plunge in Methyl Methacrylate Prices

  • 18-Jul-2022 5:18 PM
  • Journalist: Rene Swann

Prices of Methyl Methacrylate (MMA) have witnessed a downward trajectory in the Chinese market. China's factory activity expanded slower in July due to higher raw material costs, equipment maintenance, and extreme weather, adding to concerns of a slowdown in the world's second-biggest economy. Methyl Methacrylate price showcased the steepest fall of around 2%, assessed in the week ending 15th July.

On the demand front, Methyl Methacrylate market demand remains sluggish, dampened by the weak consumer activities resulting from the recession and tardy economy, and most buyers attended to de-stock considered with the tumbling global market situation. At the same time, in South Korea, the domestic market edged down due to bearish demand and a pessimistic outlook. Additionally, in Japan, market demand and supply remain balanced. Meanwhile, in Indonesia, market demand is soft, and offtakes have become slow due to the high inventory of Methyl Methacrylate in the domestic market. Moreover, in Vietnam and Thailand, domestic demand appears lackluster.

In the European market, settling raw material prices, Acetocyanohydrin resulted in bearish market fundamentals. The Methyl Methacrylate market is sufficiently well supplied with the product to meet the low-level demand. According to the ChemAnalyst, prices of Methyl Methacrylate have plunged by nearly 1% in the preceding week.

In the USA, Methyl Methacrylate prices have continued to fall, and traders sought further discounts amid growing domestic stockpiles and declining feedstock prices. While demand remains fragile, the manufacturing units continue to act cautiously with purchases and prioritize reducing stockpiles as the trajectory of the US economy remains uncertain.

According to ChemAnalyst, "the price of Methyl Methacrylate in the Asian market will drop further due to deterred market and sluggish purchasing in the domestic market. At the same time, in the European and the USA market, the Methyl Methacrylate market will likely extend losses due to oscillation in raw material Acetocyanohydrin prices impacting the polymer market. On the other side, demand from the downstream construction and the Polymethyl Methacrylate industries has remained sluggish amidst summer seasons."

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