For the Quarter Ending December 2022
USA
The price trend of Methyl Methacrylate fluctuated in the USA market during the fourth quarter of 2022. During the initial and mid-Q4 of 2022, MMA prices showed stability on the back of stable demand and supply dynamics. Additionally, domestic production costs remained stable as Natural gas prices fell after observing a sharp surge in Q3. Supply chains have strengthened in the last few weeks easing overall supply dynamics in the US market. Although, during the final quarter, MMA prices declined by 2.0% due to the sluggish performance of the downstream Polymethyl Methacrylate industry. The weak price trend of upstream Acetone Cyanohydrin contributed to the downward pricing trend for Methyl Methacrylate in the domestic market. Despite the lower operation rates, the sufficient inventory levels in the domestic market helped to decline the Methyl Methacrylate cost. Furthermore, the manufacturer was forced to lower their prices in the domestic market due to end consumers' wait-and-buy sentiments amidst inflation. In conclusion, prices of Methyl Methacrylate FOB USGC were assessed at USD 2257/MT during December 2022.
Asia- Pacific
Methyl Methacrylate prices showed a downward trend in the Chinese market throughout the fourth quarter of 2022, with shrinking profit margins among the producers. Sufficient inventory levels coupled with gloomy demand have led to the price drop of the MMA. In addition, the ongoing lockdown measures in some cities of China amid rising pandemic cases lead to uncertainties in production, operation, and logistics. This exerted downward pressure on the end-user demand. Overall, consumption from downstream PMMA industries has continued to remain on the weak side. Most buyers have curtailed their MMA offtake and taken a wait-and-see attitude, but MMA prices continue to decrease. Thus, as a result, prices of MMA Ex- Qingdao were assessed at USD 1421/MT in December.
Europe
The prices of Methyl Methacrylate have witnessed mixed sentiments in the German market throughout the fourth quarter of 2022. During the initial Q4, Methyl Methacrylate prices showed an upward trend, supported by the limited supplies in the market. The domestic production cost has remained high amid soaring energy and operating costs, resulting in weak output rates. However, the speculation of recession across the European market has dampened the demand from the downstream PMMA sector. Although, during the mid and final quarter of Q4, prices of Methyl Methacrylate declined on the back of sufficient inventory level. Meanwhile, the supply has been supported by the cheap imported material, resulting in the price drop. In addition, the major manufacturer of Methyl Methacrylate Rohm in Worms, Germany, has extended the shutdown of several MMA monomer production units till November due to low market demand in the region. Hence, as a result, prices of Methyl Methacrylate plunged by 5.6% during December.
For the Quarter Ending September 2022
North America
Methyl Methacrylate price has showcased a downward trajectory in the North- American region during the third quarter of 2022. In early, the market remained quiet as the country celebrated Independence Day, which resulted in reduced production of Methyl Methacrylate in the US market. Furthermore, the continuous decline in the feedstock Acetone Cyanohydrin prices has negatively impacted the MMA prices across the regional market. Despite the spiked electricity prices, the market dynamics of the product remained on the lower end due to the demand decline in the US market. In addition, production rates remained optimum despite stable consumption rates in the domestic market. Furthermore, the high inflation rate has dampened the demand from the downstream Polymethyl Methacrylate industries. At the same time, demand from the overseas market has also remained poor as European countries continued to face weak consumer sentiment amid ongoing uncertainty. Thus, prices of Methyl Methacrylate FOB UGSC were quoted at USD 2292/MT during September 2022.
Asia- Pacific
The price trend of Methyl Methacrylate fluctuated in the Asia- Pacific region during the third quarter of 2022. During initial and mid-Q3 2022, MMA prices plunged in the China domestic market. Equipment maintenance, and extreme weather, add to concerns about a slowdown in the prices of Methyl Methacrylate. Demand from the downstream derivative Polymethyl Methacrylate industries has been bearish, diminished by the weak consumer sentiments resulting from the recession and tardy economy. Most buyers attended to de-stock considering the tumbling market situation, which has supported the prices following a downtrend in the domestic market. However, prices were improved due to the increment in the polymer factory prices, which convinced the Methyl Methacrylate merchants to push the prices slightly upwards during the end of Q3. The energy and power crisis was causing the increase in operating costs of Methyl Methacrylate (MMA). Demand from the downstream PMMA industries has slightly improved. In addition, Huizhou MMA, Huizhou Guangdong China, having a capacity of around 90,000mt/year, has shut down its plant due to the maintenance turnaround. Prices of MMA Ex- Qingdao Prices were assessed at USD 1870/MT during September 2022.
Europe
The price trend of Methyl Methacrylate (MMA) has showcased a see-saw trend in the German domestic market throughout the third Quarter of 2022. During the initial Q3, Methyl Methacrylate showed a downward stagnancy, supported by ample inventory level and stable to weak demand from the downstream industries. However, in the middle of the third quarter, prices of MMA slightly rebounded amid low inventory levels. The latest price increase was attributed to the high cost of domestic production amid mounting energy prices. In addition, demand from the downstream derivative Polymethyl Methacrylate industries has remained stable to weak. Although, towards the end of the third quarter, prices dropped as market players reported that the downturn in business activities of the downstream Polymethyl Methacrylate sector has deepened as higher energy costs hit Europe's largest economy, Germany, and a drop has been observed in new orders. In addition, the steady flow of cheaper imports from the Asian and North American regions is an alternative for buyers, which has other facts for the price drop in Methyl Methacrylate. Furthermore, the major producer of Methyl Methacrylate, Roehm, in Germany, has reduced its operating rates in response to weak demand and high energy costs. Hence, as a result, prices of Methyl Methacrylate plunged by around 3% during September 2022.
For the Quarter Ending June 2022
North America
The Methyl Methacrylate market has been termed firm in the North American region owing to intense cost pressure from upstream feedstocks and stable demand from downstream industries. On the supply side, the Methyl Methacrylate market in the US remains constrained. As a result, the supply remains disrupted. Also, low operating rates, maintenance shutdowns, and the tight supply of raw material hydrogen cyanide (HCN) have impacted the prices of Methyl Methacrylate. Furthermore, high energy costs and Natural gas prices further put inflationary pressure on the Methyl Methacrylate market. On-demand side, consumption from the construction and automotive sectors remained stable.
Asia- Pacific
In China, the Methyl Methacrylate market showed an upward trajectory during the second quarter of 2022 due to the limited availability of the product in the domestic market. In addition, escalating crude oil prices supported by geopolitical tensions between Russia and Ukraine impacted raw material prices, especially Methanol and Methacrylic acid, which put pressure on MMA prices. In addition, end-user demand for PMMA production has increased, resulting in high MMA prices in the domestic market. On the supply side, the war has created a severe problem in the supply chain. China's strict measures to control the Covid-19 epidemic caused logistical disruptions, resulting in supply shortages for the Chinese market. However, the market sentiment of Methyl Methacrylate showed stagnancy in May, backed by the demand stable due to ample supply. Additionally, customers were hesitant to stock up in late April ahead of Labour Day. Although, prices recovered in June amid rising costs of raw materials and improved demand from downstream industries. In June, the price of CFR Methyl Methacrylate settled at USD1980/ MT.
Europe
During the second quarter of 2022, Methyl Methacrylate has witnessed mixed sentiments in Europe. In addition, Due to lower production rates, Methyl Methacrylate prices in the European market climbed during April. In addition, production and operating rates were restricted as upstream energy costs shot up. Logistical issues coupled with a scarcity of suppliers drove higher Methyl Methacrylate costs across the regional market. Furthermore, rising demand and favorable buying sentiments in the downstream construction and for the fabrication of Polymethyl Methacrylate have maintained the upward trend. Although, in the last month of the quarter, Methyl Methacrylate prices have declined, backed by ample availability combined with fragile demand from the downstream automotive sectors. Furthermore, the rising raw material cost, energy prices, and supply disruption have resulted in the weak demand for the product, curtailing the manufacturing output growth in Europe. As a ripple effect, prices of Methyl Methacrylate dropped by 2.0% throughout June.
The Methyl Methacrylate market has been termed firm in the North American region owing to intense cost pressure from upstream feedstocks and stable demand from downstream industries. On the supply side, the Methyl Methacrylate (MMA) market in the United States remains limited. As a result, the supply remains disrupted. Also, low operating rates, maintenance shutdowns, and the tight supply of raw material Hydrogen Cyanide (HCN) have impacted the prices of Methyl Methacrylate. Furthermore, high energy costs and Natural gas prices further put inflationary pressure on the Methyl Methacrylate market. On-demand side, consumption from the construction and automotive sectors remained stable. As a ripple effect, costs of Methyl Methacrylate FOB UGSC were assessed at around USD 2456/MT during June.
In China, the Methyl Methacrylate market showed an upward trajectory during the second quarter of 2022 due to the limited availability of the product in the domestic market. In addition, escalating crude oil prices supported by geopolitical tensions between Russia and Ukraine impacted raw material prices, especially Methanol and Methacrylic acid, which put pressure on MMA prices. In addition, end-user demand for PMMA production has increased, resulting in high MMA prices in the domestic market. On the supply side, the war has created a severe problem in the supply chain. China's strict measures to control the Covid-19 epidemic caused logistical disruptions, resulting in supply shortages for the Chinese market. However, the market sentiment of Methyl Methacrylate showed stagnancy in May, backed by the demand stable due to ample supply. Additionally, customers were hesitant to stock up in late April ahead of Labour Day. Although, prices recovered in June amid rising costs of raw materials and improved demand from downstream industries. In June, the price of CFR Methyl Methacrylate settled at USD1980/ MT.
During the second quarter of 2022, Methyl Methacrylate has witnessed mixed sentiments in Europe. In addition, Due to lower production rates, Methyl Methacrylate prices in the European market climbed during April. In addition, production and operating speeds were restricted as upstream energy costs shot up. Logistical issues coupled with a scarcity of suppliers drove higher Methyl Methacrylate costs across the regional market. Furthermore, rising demand and favourable buying sentiments in the downstream construction and for the fabrication of Polymethyl Methacrylate have maintained the upward trend. Although, in the last month of the quarter, Methyl Methacrylate prices have declined, backed by ample availability combined with fragile demand from the downstream automotive sectors. Furthermore, the rising raw material cost, energy prices, and supply disruption have resulted in the weak demand for the product, curtailing the manufacturing output growth in Europe. As a ripple effect, prices of Methyl Methacrylate dropped by 2.0% throughout June.
