MMA price in Asia is firming up quickly in Feb. Following several scheduled MMA plant shut down and material hiked. Feb. shipment price has lifted up by $50~100 pmt from Jan. price level. Prevailing MMA market price for 500 mt above isotank order were settled in the range of $1,820 ~ $1,870 pmt CFR. On the supply side, the tight of propylene caused the feedstock like acetone prices were firm to above US$1,000/tonne CFR NE Asia. Naphtha prices were over US$770/mt CFR Japan. In the mean time, lots of makers shut down for maintenance like Daesan MMA(90kpt/year) in Korea; Thai MMA(90kpt/year) in Thailand; FPC( 98kpt/year) in Taiwan; MRC(90kpt/year) in China and Sumitomo two lines (90kpt/year、80kpt/year) in Singapore” in Q1. In addition, the delay of MRC and Asahi Thailand project has affected supply capability in 2010. On the market side, strong demand in PMMA pellet for GP grade as well as optical grade has vacuumed the MMA market. Overall demand for cast sheets was still strong and most major cast sheet makers in Asia were operating at high rates. Sum up these reasons would eventually lift up MMA price. Outlook for March price is still tight and firm.

In North Asia, China domestic MMA prices remained on an uptrend on the back of firm feedstock costs, healthy demand and transportation problems owing to cold weather especially from the northern Chinese producers. Evonik MMA Shanghai plant is running smoothly. MMA prices were stable-to-tight with values hovering around RMB14,500-15,000/mt DEL. In addition, according to China customs trade statistics shows that Jan to Nov. 2009 imports MMA stood at 128,000mt. It increased 12% compared to 2008 import MMA volumes at 82,600mt. In Japan, MMA domestic market is stable to tight. In Korea, the market remained slightly tight with strong demand from PMMA and upcoming shutdowns at Daesan MMA plant. In Taiwan, cast sheet makers have rose 5~7% sheet price in Jan. Chei Mei was full running now. Taiwan's Formosa shut its 98,000 tonne/year MMA plant in Mailiao on 18^th January for a 3 week maintenance turnaround. Domestic market has increased NT$1/kg increase in Feb. delivery. MMA prices was NT$62 ~ NT$64/kg DDP (US$1,900 ~$1,950 pmt). PMMA producers announced US$50/mt rise in Feb but not confirmed. The PMMA price is US$1,900 ~ $1,950 pmt CFR level.

In South Asia, the strong demand prompted most cast sheets makers understood the feedstock pressure on MMA. Therefore, they accepted price rose and tried to transfer price increase to cast sheet sector. In Thailand, MRC’s newly commenced 20,000mt/year downstream continuous cast sheet plant was running at full rates soaking up additional MMA keeping the balance. In Vietnam, ASEAN impacted market price due to duty free in 2010. In Indonesia, market is healthy and cast sheet makers running full now. In Singapore, Sumitomo Chemical plans has announced to restart its MMA 80,000mt per year second line early March, this line had been shut in April 2008. They will shutdown its MMA 90,000mt per year third line early March for 30 days maintenance. In addition, Sumitomo is running their PMMA plant in full and no MMA available for external sales. MMA prices are settled at US$1,850 ~ $1,900 pmt CFR in isotank. Drum customers are talking about US$2,000 ~ $2,050 pmt CFR. Cast sheet price sustained at US$2.50~ 2.65/kg.