For the Quarter Ending December 2022
North America
Polymethyl Methacrylate (PMMA) prices have continued their bearish rally in the US market during the fourth quarter of 2022 due to limited inquiries from the domestic market. In addition, production rates remained weak in the wake of stable consumption rates in the domestic market. The cost of production remained stable as Natural gas prices fell. Meanwhile, imports from Asia pacific region have strengthened amid a decline in freight charges. Furthermore, weak demand from the automotive, construction, and other competitive industries, along with sufficient material availability, forces the manufacturers to revise their price quotations. Thus, as a result, prices of Polymethyl Methacrylate General Purpose Grade DEL Texas were settled at USD 2857/MT with a month-on-month declination of 5.8% during December.
Asia- Pacific
Throughout the fourth quarter of 2022, prices of Polymethyl Methacrylate (PMMA) prices have continued their declining trend in the Chinese market, supported by the weak cost pressure from the feedstock MMA. Sufficient inventory levels along with gloomy demand have the other factor for the price drop in the domestic market. Furthermore, the ongoing lockdown measures in major cities amid rising pandemic cases lead to uncertainties in production, operation, and logistics. This exerted downward pressure on the end-user demand. Thus, as a result, prices of PMMA CFR Shanghai were assessed at USD 1900/MT during December. Although, in the South Korean market, PMMA prices demonstrated slight fluctuation. During October, PMMA prices showed upward stability owing to the stable demand from the downstream automotive and construction industries. At the same time, demand from the overseas market has also remained on the weak side amid sluggish buying sentiment. However, during November and December, prices have steeply fallen due to the low-cost pressure from the feedstock MMA prices. In conclusion, prices of PMMA FOB Busan were settled at USD 1717/MT in December.
Europe
Prices of Polymethyl Methacrylate (PMMA) have shown mixed sentiments in the German market throughout the fourth quarter of 2022. During October, PMMA prices rose by 2.2%, backed by the high-cost pressure from the feedstock Methyl Methacrylate (MMA). In terms of domestic production, operating rates remained under check as energy prices continued to climb higher. The supply chains in the market were disrupted due to prolonged port congestions and vessel bunching, which halted the supply flow of PMMA and, thus, limited the product availability in the market. In addition, Rohm has increased the prices of PMMA amid high energy costs. Although, during November and December, prices of PMMA declined on the back of sufficient inventory level and bearish demand from the downstream automotive and construction sector. Meanwhile, the supply has been supported by the cheap imported material, resulting in the price drop. Hence, as a result, prices of PMMA FD Hamburg were assessed at USD 3860/MT during December.
For the Quarter Ending September 2022
North America
Prices of Polymethyl Methacrylate have shown a fluctuation in North America throughout the third quarter of 2022. At the beginning of the quarter, prices have shown upward stability owing to a consistent increase in feedstock Methyl Methacrylate prices. Stable demand from the downstream automotive and construction industries has been a key determinant for the steady price in the regional market. However, during the mid and end of the third quarter, the commodity’s price plunged gradually across the regional market due to the drop in the raw material Methyl Methacrylate prices. In addition, speculation of recession around the USA has dampened the demand from the downstream industries. At the same time, demand from the overseas market has also dropped due to the slowdown in the European economies. In addition, ease in the upstream natural gas costs has led to the low production cost of Polymethyl Methacrylate. Sufficient inventories coupled with weak demand have resulted in a price drop in the PMMA. As a result, in the USA, prices of PMMA DEL Texas were assessed at USD 3255/MT during September.
Asia- Pacific
During the third quarter of 2022, Polymethyl Methacrylate prices have gained downward momentum in the South Korean market. The latest decline in the prices was induced by weak feedstock Methyl Methacrylate prices. Demand for Polymethyl Methacrylate has been subdued in domestic and overseas markets; thus, Polymethyl Methacrylate prices tumbled under the influence of stockpiled inventories. Furthermore, exports from South Korea to other Asian regions were affected as suppliers started to purchase the product on a need-to basis. Hence, prices of PMMA General Purpose grade FOB Busan were offered at USD 2108/MT with a monthly declination of around 2.3% during September 2022.
Europe
Polymethyl Methacrylate prices have shown a seesawed trend in the European region during the third quarter of 2022. During July, Polymethyl Methacrylate prices followed the stagnancy with a marginal decline of around 0.9%, supported by sufficient inventory levels and weak demand from the downstream industries. However, during August, Polymethyl Methacrylate prices rebounded due to increased feedstock Methyl Methacrylate costs. The high production cost of Polymethyl Methacrylate amid mounting energy costs has led to a price surge in the regional market. Demand from the downstream industries has dampened amidst high inflation rates. Though, the pricing sentiment deteriorated at the end of the third quarter as cheap imports from the Asian and North American regions entered European markets. Hence, as a result, prices of Polymethyl Methacrylate General Purpose FD Hamburg were assessed at USD 4265/MT during September 2022.
For the Quarter Ending June 2022
North America
During the Second Quarter of 2022, Polymethyl methacrylate (PMMA) prices in North America showed an upward trend due to the rising raw material Methyl Methacrylate cost. In addition, the stressful tension between Russia and Ukraine lifted the natural gas and fuel prices, proportionally affecting the market sentiments of Poly Methyl Methacrylate (PMMA)across the regional market. Additionally, the rising temperature in the US has increased energy demand and consumption. These facets have increased the production cost of Polymethyl Methacrylate, consequently showcasing its impact on the product. Furthermore, the continuous demand from automotive, Electronic, and energy industries became the driving force for the North American Poly Methyl Methacrylate market. As a ripple effect, the prices of Polymethyl Methacrylate General Purpose DEL Texas (USA) were assessed at USD 3335/MT with an inclination of 1.1% during June 2022.
Asia Pacific
Prices of Polymethyl Methacrylate showed a mixed sentiment in the Asia-Pacific region during the Second quarter of 2022. In April, prices of Polymethyl Methacrylate (PMMA) witnessed an upward trajectory backed by the rising cost of the raw material Methyl Methacrylate. Furthermore, due to the tight supply of Methyl Methacrylate (MMA), several Polymethyl Methacrylate producers have raised their manufacturing costs to maintain their profit margins. In addition, China’s manufacturing sector improved in May as factories resumed production. However, demand from the downstream in the automotive and construction sectors has remained stable to weak. Although, in the last month of the quarter, the prices of Polymethyl Methacrylate in China dropped due to the dwindling demand from the downstream sectors. Overall, the inventory level has been mostly lifted, which has coincided with supply disruption. Prices of Polymethyl Methacrylate CFR Shanghai were settled at USD 2300/MT with a decline of 2.1%, compared with the previous quarter.
Europe
During the second quarter of 2022, Polymethyl Methacrylate has witnessed mixed sentiments in Europe. In addition, Due to lower production rates, Poly Methyl Methacrylate prices (PMMA) in the European market climbed during April. In addition, production and operating rates were constrained as upstream energy costs shot up. Logistical issues coupled with a scarcity of suppliers drove higher Polymethyl Methacrylate costs across the regional market. Furthermore, growing demand and favorable buying sentiments in the downstream Automotive Energy and Electronic sectors have maintained an upward trend. However, in the last quarter month, prices of Polymethyl Methacrylate (PMMA) have declined, backed by ample availability and 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 Polymethyl Methacrylate FD Hamburg in Germany were settled at USD 4320/MT, with a drop of 2.0% throughout June.
For the Quarter Ending March 2022
During the first quarter of 2022, Polymethyl methacrylate prices in North America showed mixed sentiments. Due to the high feedstock Methyl Methacrylate price, PMMA prices increased in January. Increased demand from downstream industries, including construction, electronics, and energy, pushed prices upwards. The low production rate caused a lack of inventories in the regional market that failed to meet domestic requirements. Although, in last month of the quarter, the prices of PMMA in the United States weakened. The decline in the prices was attributed to the plentiful supplies and weak trading activities, which revived in March 2022. Along with the gloomy market sentiment, downstream demand appeared to be bearish. Polymethyl Methacrylate General Purpose DEL Texas (USA) prices were USD 3200/MT during March 2022.
Prices of Polymethyl Methacrylate showed an upward trajectory in the Asia-Pacific region during the first quarter of 2022, owing to the surge in the feedstock prices of Methyl Methacrylate. South Korea is a significant exporter and faced a shortage in the domestic market due to the resurgence of covid cases towards the end of the quarter. Consequently, production rates and trade activities were hampered amidst the repercussions of covid and the Russia Ukraine war. Therefore, high freight charges disrupted supply chains, resulting in a supply shortfall in the region. Polymethyl Methacrylate General Purpose CFR JNPT (India) prices were assessed at 2436/MT during March. Overall, The PMMA market outlook remained positive in Q1.
In contrast to the last quarter of 2021, Polymethyl Methacrylate showed positive market sentiments in Europe during Q1 2022. Prices climbed on the back of the crippling availability of a product in the region. The surge in feedstock prices pressurized Methyl Methacrylate production, which proportionally impacted the PMMA prices. Moreover, the energy crisis in Europe amidst the geopolitical tension between Russia- and Ukraine hindered the production activities and operating rates. Polymethyl Methacrylate General Purpose Grade FD Hamburg prices were settled around USD 4290 /MT during March. Furthermore, supply shortage and strong demand across the construction, electronics, and energy resulted in the high price of PMMA in the region.
