How Methyl Methacrylate perceived Mixed Sentiments in Asian Market

Shanghai, China: The overall Methyl Methacrylate (MMA) market in China remained stable due to lower demand across the region and inadequate downstream production. Furthermore, upstream price fluctuations and delayed trade operations are other factors that contributed to the price stabilization.

Furthermore, the supply of Methyl Methacrylate (MMA) in the Chinese market was stable. The MMA market has remained stable as a result of consistent demand from downstream industries, and existing inventories were sufficient to meet demand. However, Chinese producers attempted to boost prices in order to maintain their profits, but the vast supply of the material prevented them from succeeding. Moreover, substantial discounts on bulk purchases for regular purchasers should stabilize MMA prices, whereas spot buyers will suffer from the market's uneven proportion.

Likewise, in Japan, Methyl Methacrylate prices showed a stagnancy, and the domestic market remained stable on the back of the Golden week holiday.

However, a trader based in Mumbai revealed that Methyl Methacrylate has continued to climb in the Indian market owing to the inflation cost of raw materials, notably Methanol and Methacrylic acid.

Furthermore, the volatility of crude oil and natural gas had a significant impact on the upstream market. Due to considerable price pressure from upstream crude oil, feedstock prices have remained strong. Methyl Methacrylate prices are rising due to increased demand from downstream paints and coatings, as well as PMMA (Polymethyl Methacrylate) manufacturing. In addition, lower inventory rates and high freight charges amidst the Russia and Ukraine wars, support the market trend.

Moreover, supply in South Korea is constrained due to planned shutdowns of large Methyl Methacrylate (MMA) plants and strong demand in the domestic market for downstream Polymethyl Methacrylate (PMMA) sheets, LCD, and transparent acrylonitrile-butadiene-styrene. Therefore, the MMA prices were inclined by 1-2% in the previous week.

As per ChemAnalyst, "in the upcoming weeks, the prices of Methyl Methacrylate are projected to be stable in the Chinese and Japanese market on the back of the stagnancy in demand from the downstream industries. In the meantime, the Indian and South Korean markets showed an upward trend due to the rising cost of raw materials. Furthermore, demand from the end-user sector remained strong."