略過巡覽連結

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

SubjectAcrylic World Newsletter-Sep. 2018
Published Date2018/8/31
Content

MARKET OVERVIEW

MMA producers announced MMA prices rollover for September shipment as a result of sluggish demand and conservative consumption in view of the pessimistic economy state of the escalating USA and China trade war, in which could result in 25% tariffs. However, MMA market supply continues its tightness toward September on the back of several MMA plants scheduled shutdown, like Sumitomo Chemical 53kpta MMA plant in Singapore scheduled shut down during the period between July and August; Taiwan’s Formosa Plastics Corp. 98kpta MMA plant in Mailioa, Taiwan scheduled shut down a week for maintenance on end August; In South Korea , Lotte MCC Corporation 180kpta MMA plant in Yeosu, No 1. restarted on 21th August after 15days shut down and NO 2. will shut down a month for maintenance in middle September, Lotte Chemical 50kpta MMA plant in Yeosu will shut down 10 days for maintenance on 3rd September; In Japan, Mitsubishi Gas Chemical 40kpta MMA plant in Niigata scheduled shut down for maintenance during 19th Aug to 17th Oct, Asahi Kasei Corp 100kpta MMA plant in Kawasaki, plans to shut down 43days for maintenance in late September, Mitsubishi Chemical 210kpta MMA plant in Otake plans to shut down for maintenance during the period between September and October, Mitsui Chemicals 40kpta MMA plant in Sakai restarted end August.; In China, Jiangsu Sailboat Chemical 85kpta MMA plant in Lianyungang scheduled shut down 40days during the period between July and August, Dongming Huayi Yuhuang Chemical 50kpta MMA plant in Shandong scheduled shut down 25~30days for maintenance in August, Lucite International(MCC group) 180kpta MMA plant in Caojing will shut down 50days for maintenance early October. Most MMA producers suffered from the low inventory, and hesitated to compensate the price decreasing along with allocating MMA quantity to regular customer for September shipment. In America, MMA supply is tight and under allocated as Lucite International (MCC group) declared force majeure since 2017 and on coming schedule shut down, like Lucite International 155kpta MMA plant in Beaumont, Texas plans to shut down for maintenance end September, Dow Chemical 475kptan MMA plant in Deer Park, Texas will shut down for maintenance in October, and Evonik 160kpta MMA plant in Fortier, Louisiana will shut down for maintenance in November. In Europe, MMA market demand and supply appears balance during summer holiday period. It’s heard that Arkema 90kpta MMA plant in Rho, Italy scheduled shut down for maintenance in August and Evonik 225kpt MMA plant in Worms, Germany plans to shut down 3 weeks for maintenance in September. On MMA feedstock side, crude oil prices were stable-to-firm with values hovering around US$70~75 per barrel and naphtha prices were stable at US$630~660/mt. Acetone prices were slightly increasing to US$550~600/mt. Methanol prices were increasing to US$400~410/mt. MTBE prices were continuously increasing to US$750~780/mt. Ethylene prices were stable at US$1,350~1,400/mt. The prices of Propylene were continuing increasing to US$1,100~1,140/mt. On the downstream PMMA sector, the light emitting diode (LED) television (TV) and general purpose (GP) grade sector demand remains stable. ABS segment remains healthy, however, emulsion and acrylic cast sheet sector blame the weak demand to the high costs of MMA, thus, MMA offtake kept shrinking and factory running rate low. Moreover, 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 and the surplus MMA quantity moved to Asia market recently, which dampened the supply position. MMA prices were settled in the ranges of $2,900 ~ $3,000 pmt CFR. The outlook for October remains balance to tight and MMA prices will be stabilized in the current price level.                                                                                                                                                                                                                                                                                                                                                                                                                                                        

 

NORTH ASIA

In North Asia, China MMA market prices lifted up by RMB 1,000 pmt and settled in the range of RMB 19,500 ~ 20,500 pmt DDP. The tight MMA supply situation was lengthened amid the scheduled shut down of Jiangsu Sailboat Chemical, Dongming Huayi Yuhuang Chemical and Lucite International(MCC group) during July to September, and limited MMA cargo import to China during this period, furthermore, Chinese RMB has depreciation to US dollar recently, which boost domestic MMA market prices and most buyers would like to stock up their MMA inventory for August and September during the hot season. However, China domestic market demand estimated shift lull in Q4 damped on the impact of Trade War between China and the United States. In Korea, domestic market remains healthy but the MMA supply appears tight on the back of Lotte MCC Corporation 180kpta MMA plant and Lotte Chemical 50kpta MMA plant in Yeosu, plans to shut down in September. MMA prices were offered at Korean Won 3,050~3,150/kg DEL. In Japan, tight MMA supply compelled Japanese MMA producers under allocated basis. It’s heard Mitsubishi Gas Chemical 40kpta MMA plant in Niigata scheduled shut down for maintenance during 19th Aug to 17th Oct, Asahi Kasei Corp 100kpta MMA plant in Kawasaki, plans to shut down 43days for maintenance in late September, Mitsubishi Chemical 210kpta MMA plant in Otake plans to shut down for maintenance during the period between September and October. In Taiwan, local MMA producers announced rolling over MMA prices in September, in consideration that domestic market remains sluggish and most downstream customers may not be able to absorb any further MMA prices increase. It’s heard that Formosa Petrochemical Corp (FPC) 98kpta MMA plant at Mailiao scheduled shut down for maintenance during 19th to 26th of August and Kaohsiung Monomer Co. 100kpta MMA plant at Ta-Sheh area in Kaohsiung unexpected shut down owing to water flooding end August. MMA prices were NT$81 ~ NT$84/kg DDP.  

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

 

SOUTH ASIA

In South East Asia, market demand was stagnant on the back of lacklustre economy. Most cast sheet makers continued running at low operation rate because of high MMA costs squeezed margin. In Indonesia, domestic market appears healthy after Muslim celebration of Ramadan. In Vietnam, domestic market demand appears stable but exporting business was going down owing to high MMA costs cast sheet and it’s heard that low cast sheet prices came from China, which dampened Asia market. MMA offtake became slow for September shipment. In Singapore, it’s heard that Sumitomo Chemical 53kpta MMA plant in Singapore scheduled shut down during the period between July and August. In Thailand, domestic market appears stable. In India, domestic demand appears stronger because of restocking MMA inventory ahead of the Diwali Festival. MMA prices settled at US$3,000~3,100/mt for September shipment.

 

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


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