How Methyl Methacrylate market surged the prices of Polymethyl Methacrylate globally

In the Asian market, the spot prices of Methyl Methacrylate (MMA) are hovering around USD 2200/ton - USD 2400/ton. In China, Polymethyl Methacrylate (PMMA) prices surged by 20% - 30% for April shipments. Methyl Methacrylate General Purpose (GP) prices accelerated to USD 2100/ton-USD 2350/ton CFR, China, and USD 2400/ton-USD 2700/ton CFR for Southeast Asia in the first week of April. Feedstock Methanol market continued to increase with the price range of USD 420/ton-USD 470/ton, affected by coal shortage and reduction in production rate.

Surging Covid cases in China with port congestions shoot up the prices of Petrochemical products in the domestic market. The production rate is also affected in China due to supply shortage and runs with a capacity of 60% - 70%. This week, PetroChina Jilin cut the production rate of the Methyl Methacrylate plant affected by the upstream Acrylonitrile (AN) plant shutdown in mid-March due to economic reasons. In Europe, soaring energy value and bullish raw material costs increased the prices of Methyl Methacrylate with strong market sentiments. In the USA, accelerating Russia-Ukraine tension surged the feedstock prices, which fluctuated the market of Methyl Methacrylate in the region. It was also heard that the Mitsubishi Chemical Methacrylate Methyl Methacrylate plant in Memphis, Tennessee, will undergo a turnaround for two weeks due to maintenance in April due to feedstock shortage. Downstream automotive and Light-emitting Diode (LED) enterprises remain elevated with squeezing profit and supply constraints.

According to ChemAnalyst, the price of Polymethyl Methacrylate will increase in the upcoming weeks due to accelerating demand and declining production rates of the industries. The surging Russia-Ukraine conflict will boost the crude and Natural Gas prices, impacting the market of Polymethyl Methacrylate. The spot Methyl Methacrylate prices are expected to increase, and the major producers in South Korea will increase the costs for their overseas suppliers. An increase in demand for Polymethyl Methacrylate from China will surge the imports from South Korea and Saudi Arabia.