略過巡覽連結

略過巡覽連結Borica > Product & Industry > Hymer > Newsletter

SubjectAcrylic World Newsletter-July 2018
Published Date2018/7/1
Content

MARKET OVERVIEW

 

In July, Asia MMA prices are facing the toughest challenge as a combination of crude oil price hike and suppliers do not have sufficient stock, MMA producers announced MMA prices continue moving upward by US$20~30 pmt to reflect raw material costs increment and tight MMA supply. However, most cast sheet and acrylic resin customers reckon high MMA cost can’t reflect to downstream and have to give up lots of July order to prevent bleeding, together with China MMA market prices were fallen down sharply due to the edged high MMA prices was not stimulated and both of Sumitomo Chemical C4-MTBE process 90kpta MMA plant in Saudi Arabia and Mitsubishi Rayon α process 250kpta MMA plant at Al Jubail in Saudi Arabia run well. Thus, customers adopted wait and see attitude and asked MMA price decrease for July shipment. On the supply side, MMA producers are struggling with low inventories and need to build up MMA stock in Q3 after completing shut down plan, like China’s Jilin Petrochemical 200kpta MMA plant in Jilin and Evonik Degussa 100kpta MMA plant in Shanghai; Singapore Lucite International 130kpta MMA plant; Taiwan’s Kaohsiung Monomer Company Ltd (MCC group) 100kpta MMA plant at Ta- Sheh in Kaohsiung; Japan Mitsubishi Chemical 60kpta MMA plant in Otake. For the reason, most MMA producers allocated MMA quantity to regular customer, and compelled to raise the price for July shipment. On MMA feedstock side, Brent crude oil edged higher at US$72~77 per barrel during May to June owing to supply disruptions in Venezuela, Libya, and economic sanctions on Iran. Hence, the ethylene increased to US$1,350~1,370/mt. Contrary, markets slumped causes naphtha prices decreased to US$620~650/mt, and Methanol prices decreased to US$400~410/mt. Propylene prices decreased to US$1,100~1,110/mt. MTBE prices decreased to US$730~770/mt. Acetone prices were continuously decreasing to US$560~590/mt. Meanwhile, the stronger markets demand in US and UK continue to provide upward support for Asia MMA price. In Europe, MCC group Lucite International 200kpta MMA plant at Cassel has lifted FM on 15th June after planned overhaul and MMA under allocated basis. On the demand side, demand became stable across all market segments, which dampened by summer season and high raw material costs. However, Polymethyl methacrylate (PMMA) demand from the general-purpose (GP) and light guide panels (LGP) grade, transparent ABS and artificial marble remains strong. MMA prices for 500 mt above isotank order were settled in the ranges of $2,900 ~ $3,000 pmt CFR. The outlook for August remains balance to tight and MMA prices will be stabilized in the current price level.

 

NORTH ASIA

 

In North Asia, China MMA suppliers are under extreme price pressure on the back of shrunk domestic market demand and sufficient MMA supply. China domestic MMA prices were spiraling down to RMB 17,500 ~ 18,500 pmt DDP. In addition, the weak Chinese Yuan against US dollar recently depressed the China economy in coming month. In Japan, MMA supply tightened on the back of limited supply availability, amid several MMA plants need to restock their inventory after turnaround plan. MMA prices were in the range of JPY 220~260/kg delivered to regular customers. In South Korean, domestic market demand remains healthy. MMA prices were offered at Korean Won 3,000~3,100/kg DEL. In Taiwan, local MMA producers announced rolling over MMA prices in July, in consideration that downstream polymethyl methacrylate (PMMA) sector may not be able to absorb any further MMA prices increase and sluggish market demand. MMA prices were NT$81 ~ NT$84/kg DDP.

The downstream of general purpose (GP) polymethyl methacrylate (PMMA) were assessed steady and the spot polymethyl methacrylate (PMMA) prices were around US$3,000-$3,100/mt CFR.

 

SOUTH ASIA

 

In South East Asia, high MMA costs are shrinking cast sheet and emulsions margins. Cast sheet makers complained that increasing MMA cost can’t reflect to customer and it’s estimated that MMA prices will go down in coming month. Hence, most customers slow down the MMA offtook and adopted wait and see attitude. In Indonesia and Vietnam, domestic and export demand is steady. In Thailand, domestic market appears stable. In Singapore, MMA makers are running well. It’s heard that Sumitomo Chemical Singapore 53kpta MMA plant scheduled shut down for maintenance between July to August. In India, domestic demand remains stronger because of tight MMA supply. MMA prices settled at US$3,100~3,200/mt for July shipment.

On the acrylic sheet side, the cast sheet prices were range at US$3.6~3.7/kg CFR Asia.




June.png


       >>Newsletter Archive