MMA Prices Not Affected By Fluctuations And Remain Stable

In H2 of April, MMA market entered into a period of rest which may last for a month after severe turbulence. The prices in all the primary markets remained stable for two consecutive months, while in Secondary Market of East China even fell from top value ending the mad state spawned by the export market from March to April and returned back to appropriate prices which in reasonable difference level with the primary markets. Market sentiments from all parties also gradually passed into a sage mode, which holds relatively steady opinions towards future trend.

According to ECPRAMS’s tracking, intensive inquiries were covered by several major exporters towards Chinese MMA traders as main purchasing objects in last two working days of second week in May, the initial negotiation price was at RMB17,800/Mt.  At the same time, 200kt/a MMA unit in Lucite at Britain has announced force majeure, MMA unit in Evonik at America and Europe also has also entered the case of regular maintenance, so the secondary markets were driven a little. In addition, the relevant aspects have also tasted the sweetness due to remaining booming market sense, so the local market was rapidly warming.

As a result, MMA suppliers immediately adjust the price above RMB18,000/Mt. They still tend to stable prices for contract users with the supply principle of insured quantity.

According to ECPRAMS’s statistics, Chinese MMA production capacity will scale up to 1.2 million tons by 2020. With the breaking and upgrading of technical barriers, MMA overcapacity will be only a matter of time in China. Meanwhile, as the service life of some older MMA devices in Europe and the United States continue to increase, their risks are increasing simultaneously. In the long run, China's increase in MMA exports will be inevitable.

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