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

SubjectAcrylic World Newsletter-Apr. 2019
Published Date2019/4/1
Content

MARKET OVERVIEW

In April, Asia MMA prices continue declining by US$50~100/mt dampened by the “cold” MMA market demand in the past couple months. On the supply side, it’s heard US Lucite 155kpta MMA plant in Beaumont, Texas incurred unexpected outage in March, and several MMA producers scheduled shut down for maintenance and some MMA producers were running at low operation, like Lucite International Singapore 120kpta MMA plant in Singapore shut down for 2 months during February to April by production control, and  it’s heard SAMAC α process 250kpta MMA plant at Al Jubail (JV of Mitsubishi Chemical (MCC), and Sabic) cut 30% production rate in March.; In Thailand, it’s heard Thai MMA180kpta MMA plant in Map Ta Phut cut No. 1 line to 60% run rate in March.; In Japan, it’s heard Mitsubishi Chemical in Otake 107kpta ACH process MMA plant cut run rate at 50% in Q1 and 110kpta C4 process MMA plant No. 1 line will shut down 4 months for maintenance in April.; In Singapore, it’s heard Sumitomo Chemical 90kpta MMA plant in Jurong Island will shut down 2 months for maintenance in April.; In China, it’s hear Evonik 100kpta MMA plant in Shanghai cut production rate in February owing to sluggish market demand. In USA and Europe, it’s heard Evonik 160kpta MMA plant in Fortier USA, Louisiana shut down for maintenance in March and 225kpta MMA plant in Worms, Germany will shut down 10days for maintenance early April. On the demand side, downstream PMMA sector for the light emitting diode (LED) television (TV) and general purpose (GP) grade sector remains sluggish, as ABS segment, acrylic sheet/resin and emulsions customers are suffering from poor demand, and facing slow down MMA offtake. Furthermore, buyers adopted more conservative attitude with uncertain demand outlook on the back of pessimistic economy state in Europe and China, which uncertainties intensified of trade war tension between the USA and China. In addition, it’s heard there’s less deep sea cargoes arrival Asia region during February to March. On the feedstock side, in the wake of crude oil price rebounded to $65~75 per barrel, and push Naphtha prices increased to US$550~600 pmt. However, MMA feedstock propylene prices became soft after a couple of weeks increased and the prices decreased to US$900~930 pmt. MTBE prices rebounded to US$650~700 pmt. Methanol prices stabled at US$300~330 pmt. Acetone prices continue decreasing to US$390~430/mt. Ethylene prices sharply decreased to US$1,060~1,100/mt. Prevailing MMA market prices are in the ranges of $2,100~ $2,200 pmt CFR. The outlook for May MMA prices show continuously decreasing from April level.

 

NORTH ASIA

In North Asia, China MMA prices remain bearish in the range of RMB 14,000~15,000 pmt with very slow demand and buyers preferring to sideline. Demand shrinks by 20~30% across market sector, though it’s heard MCC Huizhou 90kpta MMA plant restarted after 2 months scheduling shut down and it’s heard Evonik cut production rate since February. MMA supply is apparently sufficient in China market and aggravated by deep seas cargo from Middle East. In addition, it is heard that several new MMA projects and expansion during the period from 2019 to 2020, likely, Dongming Huayi Yuhuang New Material Co., Ltd.; Heze Holley New Material CO., LTD,; Shandong Wanda Group of Hongxu Chemical and so on. The oncoming MMA capacity will dampen MMA local market in the future. It’s heard that China government will drop China’s value added tax (VAT) to 13% from the present 16% owing to China government pegged the growth rate at 6.0~6.5% in 2019, which came down from last year's actual GDP growth of 6.6%. In Japan, market demand and supply appeared balance. MMA inventories kept low before financial year closing in March. In South Korea, domestic market edged down due to bearish demand and the pessimistic outlook. Domestic spot MMA prices decreased to Korean Won (W) 2,500/kg~ (W)2,600/kg. In Taiwan, major PMMA makers restarted in March after 2~3months shut down for maintenance. MMA offtake became aggravated, however, local MMA inventory remains high and push local MMA producers reduced NT$2~3/kg due to sluggish market demand and the competitive MMA prices from China. It’s heard that FPC delayed restart its 98kpta plant in March, which was shut down from 12th of February to early of March for annual maintenance. Local MMA prices were settled at NT$67 ~ 70/KG DDP. 

PMMA producers and transparent ABS had reduced production drastically resulting in a sharp drop in MMA demand in line with the weak economic scenario. Downstream general purpose (GP) polymethyl methacrylate (PMMA) kept softened and prices decreased in the range of $2,300-2,500/mt CFR.

SOUTH ASIA

In South East Asia, most cast sheet producers are claiming squeezed margin and reduced sales. In Indonesia, domestic and export demand is steady. In Vietnam, market demand is soft and offtakes remain slow. Cast sheet makers complained the MMA cost still high because of competitive prices from other country. In Thailand, Thai MMA 180kpta MMA plant in Map Ta Phut, cut No.1 line to 60% run rate and restarted No.2 line in March. The annual holiday “Songkran Festival” will start from 12th to 18th of April. In Singapore, it’s heard Sumitomo Chemical 90kpta MMA plant in Jurong Island, will shut down 2 months for maintenance in April. In India, domestic market demand remains weak and MMA prices are in the range of US$2,100~2,200/mt CFR India.

On the acrylic sheet side, the cast sheet prices unchanged at US$2.90~3.20/kg CFR Asia.


 

市場概況

4月份,受到過去幾個月冰冷的MMA市場需求打擊,亞洲MMA價格繼續下跌50~100美元/噸。

在供應方面,聽說美國路155,000/年的 MMA工廠於3月份在德克薩斯州博蒙特發生意外停; 以及幾家MMA製造進行計劃性的歲休保養加上MMA製造商因為生意不佳而降低產能--
例如新加坡路12/年的MMA工廠在2月到4月期間歲休2個月進行產能控制另外聽說在朱拜勒的SAMAC公司α工藝25萬噸/(三菱化學(MCC)和沙比克的合資公司)MMA工廠在3月份降低了30%的產量。在泰國,聽說在拉勇的Tai MMA 18/年工廠在3月份將1號產線的運行率調至60%。在日本,聽說三菱化學在大竹107/ACHMMA工廠,第一季的運行率為50%,11/C4MMA工廠,1號線將於4進行4個月的歲休維護。在新加坡,聽說在裕廊島的住友化學9/年的MMA工廠將於4進行2個月的歲休維護。在中國,由於市場需求低迷,2月份上海贏創10/年的MMA工廠的產量下調。在美國和歐洲,聽說路易斯安那州的贏創16/年的MMA工廠於3月歲休進行維護,德國沃姆斯的225千噸 MMA工廠將在4月初歲休10天進行維護。在需求方面,下游PMMA市場在發光二極管(LED)電視(TV)和通用(GP)級市場的需求仍然低迷,甚至ABS市場,壓克力板/樹脂和乳液客戶需求也不佳,同時減緩採購MMA。此外,在歐洲和中國悲觀的經濟狀況下,需求充滿不確定性,買家同時採取了保守態度更是因為對中美貿易戰局不確定性。此外,聽說2月至3月期間,亞洲遠洋MMA的貨運更是較少。在原料方面,原油價格反彈至每桶65~75美元後,石腦(輕油)價格上漲至550~600美元/噸。然而MMA原料丙烯價格在幾週的上漲後價格開始往下走,價格下跌至900~930美元/噸。 MTBE價格反彈至650美元至700美元/噸。甲醇價格穩定在300~330 pmt。丙酮價格繼續下跌至390~430美元/噸。乙烯價格急劇下跌至1,060~1,100美元/噸。現行的MMA市場價格在$ 2,100~ $ 2,200 pmt CFR的範圍內。 5MMA價格的前景看來是比4月份的價格基礎上持續下降。
 
北亞
在北亞,中國MMA價格還是萎縮並繼續看跌,由於需求非常緩慢,買家採取觀望態度所以價格還是在人民幣14,000~15,000 每噸,。市場的需求下降了20~30聽說MCC惠州9/年的MMA工廠己重新運轉2個月的歲修之後,同時聽說贏創自2月份開始減產。MMA的供應在中國市場顯然已經足夠,並且受到來自中東便宜的MMA價格影響加劇。此外,聽說接下來在2019年至2020年期間可能會有幾個新的MMA擴建: 東明華藝玉皇新材料有限公司、菏澤霍利新材料有限公司、山東萬達集團宏旭化工等。這些即將到來的MMA產能將在未來打擊MMA本地市場價格。聽說,由於中國政府將2019降低了年GDP6.0~6.5%之間,所以將中國的增值稅(VAT)從目前的16%降至13%,這是因為去年GDP比今年高,並在6.6左右。在日本,市場需求和供應出現平衡。 MMA3月份財政年度收盤前要降低庫存。在南韓,由於需求疲軟和前景不看好,國內市場小幅下跌。國內現貨MMA價格下跌至韓元2,500 / kg~2,600 / kg。在台灣,主要的PMMA製造商在進行歲休保養23個月後,3月份重新開車,。由於市場需求低迷以及來自中國MMA價格極具競爭力,再加上當地MMA庫存仍然很高,迫使當地MMA生產商調降新台幣2~3/公斤。聽說,台塑在3月份延遲開車98千噸/年的MMA工廠,該工廠於212日至3月初歲休進行年度維護。當地MMA價格定為新台幣67~70/ KG

PMMA生產商和透明ABS大幅減產是因為MMA的價格近期一直急劇下,這與目前經濟形勢的疲弱相符。下游通用(GP)聚甲基丙烯酸甲酯(PMMA)保持軟化,價格下降至2,300-2,500美元/CFR

南亞

在東南亞,大多數板材生產商稱利潤​​率下降,銷售額亦同時降。在印尼,國內和出口的需求穩定。

在越南,市場需求疲軟,而且需求仍然緩慢。由於來自其他國家的價格較具有競爭力,鑄造板製造商抱怨MMA成本仍然很高。在泰國,年度節日“潑水節”將於412日至18日開始。位於拉勇Tai MMA 18萬噸/ MMA工廠,將1號線削減至60%的運行率,並於3月重新開2號線。在新加坡,在裕廊島聽說住友化學9萬噸/ MMA工廠將於4月歲休2個月進行保養維護。在印度,國內市場需求仍然疲軟,MMA價格在2,100~2,200美元/CFR的範圍內。

澆濤​​板材方面,鑄造板材價格維持在2.90~3.20美元/kg CFR亞洲。

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