MMA producers in Asia have implemented another price increase by US$30 ~ $50 pmt for Dec. shipment to reflect the raw material price hike. On feedstock side, due to crude oil reached US$ 80, thus, spot naphtha prices continued to hover above $700/mt, MTBE were over US$800/mt, acetone were US$700/mt with prices expected to stay high until the year-end. Most buyers accept price increase trend but they kept cautious that demand from cast sheets, emulsions and general purpose (GP) PMMA were weak and the new Evonik MMA 100,000mt per year plant in Shanghai China started up in Nov. As a result, MMA prices were compromised by US$30 ~ $50 pmt increased and prices for 500 mt above isotank order were settled in the ranges of $1,700 ~ $1,750 pmt CFR. Additionally, growing demand from U.S and Europe had heard and this will ease MMA over supply position in Asia region in the future. The outlook for January 2010 is conservative.
In North Asia, Chinese domestic MMA prices were stable-to-weak with values hovering around RMB13,000-13,200/mt DEL. However, some offers had heard slightly below CNY 13,000/tonne DEL owing to Evonik’s new MMA plant run rate exceeding 75% rate in Nov. The facility would also produce 50,000mt per year of PMMA and other derivatives of MMA such as methacrylic acid, butyl methacrylate, hydroxyl esters and special esters. In Japan, MMA rose yen (Y) 15-20/kg price successfully in October. Due to domestic demand increased, Japanese MMA inventory has less than normal levels around 15,000mt. In Korea, MMA was balanced-to-tight with some appetite seen for spot MMA imports. PMMA and transparent ABS sectors were still producing at high rates although market players did not dismiss the possibility of these rates tapering off towards the year end. In Taiwan, downstream PMMA producer “Chei Mei” cut its 20% operating rates due to weak demand from the GP grade PMMA especially for exports to China. Domestic market has announced NT$1/kg increase in Dec. delivery. MMA prices was NT$61 ~ NT$63/kg DDP (US$1,850 ~$1,900 pmt).The local producer FPC will schedule shut down for maintenance end of January 2010. PMMA price sustains at the level of US$1,850 ~ $1,900 pmt CFR level.
In South Asia, demand became soft because offtakes remain slow. Most cast sheet makers complained the increase MMA cost can’t reflect to customer, furthermore weak demand impelled them to reduce price in Q4. In Indonesia, market is steady. The demand in Vietnam is shrinkage. In Thailand, Thai MMA will start up its 20,000 mt per year continuous cast sheet plant in early December. The new sheet supply will give impact to Thailand market in 2010. MMA prices are settled at US$1,750 ~ $1,800 pmt CFR in isotank. Drum customers are talking about US$1,900 ~ $1,950 pmt CFR. Cast sheet price was at US$2.45~ 2.6/kg.
[ 2009-11-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Nov. 2009
As a result of crude oil price hike, November MMA Asia prices are slightly moving up by $20 ~ $30 pmt to reflect higher raw material costs and rose energy costs . Recent surge in crude oil value to $78/bbl had resulted to propylene and naphtha prices increased. MMA producers are under extremely cost pressure to adjust their MMA selling prices to recoup margins, though the demand from market is not strong as expected for Q4, especially in the export oriented market of China appeared weak after the National day holiday and cast sheet remained sluggish. On the other hand, downstream polymethyl methacrylate (PMMA) and transparent acrylonitrile butadiene styrene (ABS) sectors became slack after Oct. Orders have been secured at $1,700 ~ $1,750 pmt CFR Asia for 500 mt above customers. Additionally, tight supply in the US and Europe after several capacities there had shut earlier this year and also price increase announcements in the US. The outlook of MMA in Asia is steady to tight till end of this year.
In North Asia, Evonik C4 based 100kpt/year MMA plant in Shanghai China was commissioning in Oct and sample testing to customer was available. After long National holidays, market sentiment was weak. Domestic prices fell to yuan CNY 13,800-13,900/tonne DEL on the back of ample supply from domestic producers like Jilin and adequate import inventories. In Japan, the increase cost impelled MMA makers decision on the price hikes yen(Y) 20kg in Nov. the domestic demand was optimistically due to emulsion sector recovery in auto sector. In Korea, Samsung LED monitor has sold over 1million push PMMA demand increase. Demand continued to be healthy and all MMA plants such as LG MMA and Honam, were running well. In Tawian, market was quiet. downstream PMMA maker Chemei was slightly reduced operation rate in Oct. Thus, MMA price is difficult to increase and prices were mostly stable in the posted range. MMA prices sustain at the level of NT$60 ~ NT$62/kg DDP (US$1,830 ~$1,890 pmt). PMMA price is US$1,850 ~ $1,900 pmt CFR level.
In South Asia, market demand kept sluggish after Ramadan festival in Indonesia and Malaysia. In Thailand, Thai MMA expects to start its new 20,000 tonne/year continuous cast sheet plant from December and MRC JV with PTT and Marubeni the new MMA capacity 90,000 tonne/year will be on commission at Q2 2010. The emperor of Thailand was about to die of an illness that will effect economy unsettled. In Singapore, Lucite restarted its 120,000 tonne/year MMA plant at Jurong Island on 7 October for three weeks maintenance turnaround. Sumitomo MMA plant of second 90,000tonne/year line will restart early of 2010. In Vietnam, sheet producers were still running 60% production due to poor market demand. MMA price are settled at US$1,750 ~ $1,800 pmt CFR in isotank. Drum customers are talking about US$1,880 ~ $1,930 pmt CFR. Cast sheet price stabled at US$2.4~ 2.6/kg.
[ 2009-10-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Oct. 2009
MMA Asia price in Oct. has a mixed picture. C4 based MMA producers MRC made the announcement for $100 pmt MMA price increase for Oct shipment on the back of recoup margins amid high feedstock costs. However, buyers felt it is not realistic owing to weakening demand and crude oil price has come down recently. Other MMA producers are trying $20 ~ $30 pmt increase. Judging from the Evonik new 100 kpt per year MMA capacity will come out to market at Q4. Orders have been secured at $1,680 ~ $1,750 pmt CFR Asia for 500 mt above customers. Additionally, Lucite ceased production at its 181 kpt per year acrylonitrile (ACN) plant in Beaumont, Texas, as well as Repsol and Arkema closure of other MMA plants in Europe due to weak demand. There is no deep sea cargo available in the market which dampened the supply position. The outlook for Nov price will be conservative and steady.
In North Asia, China MMA price rebounded to RMB 14,000 ~ 14,300 pmt on delivered base because of Chinese MMA inventories kept low level after decreasing import quantity during August and some cargoes were needed to replenish stocks. The slight tightness in supply had resulted in a recovery in domestic pricing rose. Chinese purchase will decline due to upcoming week-long National Day holiday from 1 October. In Korea, the strengthening Korean won versus the US dollar to justify the need for MMA price hikes. Market appeared optimisticallybecause of steady demand from downstream polymethyl methacrylate (PMMA) and transparent acrylonitrile butadiene styrene (ABS) sectors. In Japan, MRC announced Yen20/kg increase in Oct. Domestic market demand was stable with several downstream producers of cast sheets and emulsions operating at around 70%. In Taiwan, Chi Mai has healthy PMMA demand for the flat panel in the region actually supported of MMA largely. Local producers impelled to stable price to stimulate weakening demand. MMA prices sustain at the level of NT$60 ~ NT$62/kg DDP (US$1,830 ~$1,890 pmt). PMMA price is US$1,850 ~ $1,900 pmt CFR level.
In South Asia, market demand was thin amid the Ramadan festival in Indonesia and Malaysia. In Singapore, Lucite shut down its C2 120,000mt/year MMA plant on 19th of Sept. for a three weeks maintenance turnaround. Sumitomo Chemical Singapore restart its 90,000mt/year MMA third line on ninth of Sept. In Thailand, market is very pressed and sheet producers are suffering by the shrunk demand. In Vietnam, sheet producers were running 60% production due to poor market demand. MMA price are settled at US$1,730 ~ $1,780 pmt CFR in isotank. Drum customers are talking about US$$1,880 ~ $1,930 pmt CFR. Cast sheet price stabled at US$2.5~ 2.7/kg.
[ 2009-09-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Sep. 2009
Asia MMA producers have announced roll over August price to September shipment in view of slow down market demand. On the feedstock side, high naphtha and acetone values push cost increase of both C4 and acetone cyanohydrin (ACH) based MMA production. MMA producers are suffering from the material cost up and hiked logistic costs. Therefore, some MMA producers have made an attempt for US$50~70/mt price increase, thought not successful. On the demand side, the shrunk MMA demand is foreseeable to Q4. Most cast sheet and acrylic resin customers were very difficult to reflect incremental cost to downstream thus they hesitated to keep stock and keep by order production. Evonik expects to start its 100,000mt per year MMA plant in October. Thus, over supply MMA in Asia region is anticipated. As a result, September delivery price are settled to $1,680 ~ $1,730 pmt CFR in isotank for 500 mt above customers. The outlook for Oct price will be conservative and steady has been mentioned by most suppliers.
In North Asia, PMMA optical grade and ABS sectors remain healthy. In China, domestic MMA price decreased to RMB13,200-13,500/tonne DEL owing to the market fundamentals became more balanced. Suppliers expected to lift up MMA price by RMB 1,000/mt in September due to propylene price over US$1,100/mt. In Japan, more MMA are available for export market considering of weak domestic demand. August inventory remain stable at 15KMT. In Korea, market kept stable and health, MMA price keeps at Won 1,750/kg DDP. In Taiwan, Typhoon Morakot caused big damage in South of Taiwan. Many cast sheet and resin factories need more than 2 months to recovery. Chi Mei is still running at high rate. MMA prices sustain at the level of NT$60 ~ NT$62/kg DDP (US$1,830 ~$1,890 pmt). PMMA price is US$1,850 ~ $1,900 pmt CFR level.
In South Asia, demand in markets like Indonesia and Malaysia was expected to be weak during September with the onset of Ramadan. In Indonesia, the Ramadan holiday is from 15th to 25th of Sept. In Singapore, Lucite will shut its 120,000 mt per year MMA plant in mid-September for a 15-18 day maintenance turnaround. Sumitomo Chemical Singapore restarted its 53,000 mt per year MMA first line on 20 August after a 20-day maintenance turnaround and shut its 90,000 mt per year third line for a week in early September. MMA price are generally settled at US$1,700 ~ $1,750 pmt CFR in isotank. Drum customers are talking about US$$1,850 ~ $1,900 pmt CFR. Cast sheet price stabled at US$2.5~ 2.7/kg.
[ 2009-08-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Aug. 2009
MMA price in Asia was firmed up US$20~30/mt for August shipment. On the feedstock side, Asian C4 process MMA plant are suffering from the Naphtha cost has been lifted up dramatically over US$ 900/mt. it’s same with ACH process that propylene was higher than US$1,000. Thus, we can see much stronger MMA prices cost push in Asia. On the demand side, even the market sentiment started to weaken from downstream cast sheet and resin, but the major support from PMMA sector is healthy and received orders up to the end of the third quarter. Thus, it’s boosting sellers’ confidence for the MMA price increase. Most MMA orders were settled at US$1,700~1,730 pmt CFR in isotank for August shipment. There are not much bulk orders being reported. The outlook for September will be steady.
In North Asia, Lucite China has re-started their plant on 15th of July. Market demand was stable although market sentiment started to weaken as China headed to the traditional lull season. Prevailing market price is around RMB 13,500 to RMB 14,000 pmt delivered. Commissioning of Evonik 100,000tonne/year MMA plant will be on schedule at Q4. In Japan, MMA supply in domestic market kept tight. MRC shut its 55,000 tonne/year No.2 C4 based MMA line in Japan from 14 July to 23 July and it’s ACH based 107,000 tonne/year MMA line operated rate at around 70% amid reduced feedstock supply. In Taiwan and Korea, supply remained tight amid strong demand from downstream PMMA sector. In Taiwan, KMC’s ACH base 100,000tonne/year MMA line operated rate at 80~90% because of reduce feedstock from CPC. MMA prices sustain at the level of NT$60 ~ NT$62/kg DDP (US$1,830 ~$1,890 pmt). PMMA price is US$1,850 ~ $1,900 pmt CFR level.
In South Asia, MMA demand kept stable. In Indonesia, cast sheet plant was fully running. In Thailand, the tight situation will release on the back of Thai MMA restarted its 90,000mt/year MMA plant on 15 July. In Singapore, Sumitomo Chemical second line of 80,000mt/y leakage problem in the reactor will delay restart because of sluggish demand and high cost. MMA prices are generally settled at US$1,700 ~ $1,750 pmt CFR in isotank. Drum customers are talking about US$1,850 ~ $1,900 pmt CFR. Cast sheet price stabled at US$2.5~ 2.7/kg.
[ 2009-07-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Jul. 2009
Asia MMA market continued to be tight in July. The crude oil shoot up caused MMA raw material and logistic cost increased in the past weeks. The costs push surging of naphtha and propylene values maintained above $600/tonne and $900/tonne. MMA suppliers focused on a firming cost base to continue pushing for higher MMA values and demand was generally steady, especially from the optical grade PMMA segment with most PMMA plants in northeast Asia running at 70-100% production. Therefore, MMA producers announced US$50~100/mt increased for July shipment. As the result, moderate price increased achieved US$20~50/mt. MMA price settled at US$1680~1730/mt CFR Asia for 500mt above isotank for July shipment. The outlook for August will be steady.
In North Asia, China local MMA prices were range at yuan (CNY) 14,200-14,500/tonne DEL. The strong demand in past month brought in12,500 tonnes of MMA during April. But quick and decisive turn of worse appeared in the second half of June. Lucite will restart its 93,000 tonne/year MMA around 5th of July because of Secco will restart AN plant on first of July.Anda Longxin will complete their 50 ktpa MMA expansion in August this year. In Korea, demand from the downstream polymethyl methacrylate (PMMA) sector was healthy and domestic inventories were low due to LG MMA shut down one of its 50,000 tonne/year MMA lines on 17 June for a 20-day turnaround to facilitate catalyst change, and Honam Petrochemical will shut its 50,000 tonne/year MMA plant on 3 July for a 10 day maintenance turnaround. In Japan, Mitsubishi Rayon Co (MRC) had formally completed the takeover of Lucite on 28 May. In Taiwan, operating rates at downstream Chi Mei PMMA facility was still around 90-100%, keeping demand for MMA stable for July. MMA prices sustain at the level of NT$60 ~ NT$62/kg DDP (US$1,830 ~$1,890 pmt). PMMA price is US$1,850 ~ $1,900 pmt CFR level.
In South Asia, market appeared to be balanced. In Thailand political turmoil tended to stabilize. Market has become optimistic and steady grow. Thai MMA will shut its 90,000 tonne/year MMA plant in early July for a two week scheduled maintenance turnaround. In Indonesia, Cast Sheet producers are running 80~90% production now. In Vietnam, market is steady. Cho Chen new cast production line was on commission. Phu Thinh has finished expansion second line and the capacity will be 500mt per month. MMA price are generally settled at US$1,680 ~ $1,730 pmt CFR in isotank. Drum customers are talking about US$$1,850 ~ $1,900 pmt CFR. Cast sheet price stabled at US$2.5~ 2.7/kg.
[ 2009-06-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Jun. 2009
Asian MMA prices continue to rebound in June following May price increase. Both naphtha and acetone prices are driven up by crude oil price and MMA appeared tight situation till June. MMA producers are seeking to reflect their cost increase at least partially if not fully go with strong demand from PMMA sector. Thus, MMA suppliers made the announcement for US$100 pmt MMA price increase at US$1700~1750 pmt CFR Asia for 500mt above isotank for June shipment, however, buyers resisted the higher offers, stating that current market fundamentals were balanced, especially with new capacities are starting up in the region. There were also talks of deep sea cargoes arriving in Asia in middle of June which would ease the current tightness in supply. On the other hand, the Influenza A virus subtype H1N1 widespread will hit the consuming market as anticipated and China market requirements cool down in half May. As the result, buyers think the reasonable price increased is $30~50 for June shipment. The outlook for July price will be conservative and steady.
In North Asia, China market is continuously tight. The strong demand pushed MMA price stable-to-firm at CNY 14,500-14,800/mt DEL. Lucite shut down its 93,000 tonne/year MMA plant in Caojing on 16th of May for around 45 days due to upstream SECCO shut dowm. Jilin Chemical maintained to operate at around 60%. In Korea, Daesan MMA had started production its new 90,000 pmt per year in early May, the supply was seen as adequate for domestic market demand. In Japan, improved regional demand especially from China and tight supply MMA made inventory decrease to around 16,000mt, it’s down around 5,000mt from last month. MRC shut its 55,000mt/year No.1 C4 MMA line for maintenance on 7th of May for one and half month in Hiroshima and will shut down another No. 2 line in July for two week maintenance. In Taiwan, the strong offtake from PMMA plant have lead MMA producers announced further price increase NT$1/kg for June delivery to NT$62 ~ NT$64/kg ($1,880 ~ $1,930 pmt DDP). Chi Mei continues running their PMMA at rate over 14,000mt per month. PMMA price is stable at $1,900 ~ $1,950 pmt CFR level.
In South Asia, MMA demand appears relatively healthy. In Indonesia, P.T Margacipta and P.T Astari cast sheet plant demand were improved. In Thailand, Thai MMA will shut its 90,000mt/year MMA plant in early July for two week scheduled maintenance turnaround. Political turmoil was getting moderate. In Singapore, Sumitomo Chemical restarted its 90,000mt/year No 3 line on fourth of May, the line suffered an unexpected outage at on 22 April due to technical problems. In Vietnam, ChoChun 800mt/month cast sheet will on stream early of June which was delayed since Q3 2008. MMA price are generally settled at $1,680 ~ $1,730 pmt CFR in isotank. Drum customers are talking about $1,800 ~ $1,850 pmt CFR. Cast sheet price stabled at US$2.5~ 2.7/kg.
[ 2009-05-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -May. 2009
As a result of MMA raw material and logistic cost hike, May MMA Asia prices are slightly moving up by $30 ~ $50 pmt to reflect the costs. On the supply side, the strong support by surging feedstock propylene over US$900 pmt and naphtha/acetone over US$640 pmt and $800 pmt. To follow hard at heel, Japan MMA producers and China MMA producers are under schedule shut down for maintenance and Lucite U.S.A. has closed it 40,000mt plant in April. Thus, MMA producers take tight situation pressure to adjust their MMA selling prices to avoid bleeding. On the demand side, buyers resisted the higher offers, stating that current market fundamentals were balanced, especially with new capacities are on stream already. But the resuscitated demand in Q2 mainly from the downstream LCD sector and snug supply in China underpinned. Thus, most buyers accepted moderate price increase to prevent shortage. MMA prices for 500 mt above isotank order were settled in the ranges of $1,630 ~ $1,680 pmt CFR for the May shipment. The outlook for June continues to be tight and price recovery is anticipated.
In North Asia, strong demand in domestic market has push MMA price forward RMB 13,500~14,000 in China. China government has announced New VAT Rebate Scheme that the return will provide more price support for export orders. Secco decided to postpone shut down its 900,000mt/year plant for 60-70 days due to surging market demand. Jilin chemical has shut down MMA plant because of the upstream ACN shortage. In Japan, MMA inventories have reduced to 21,000 mt, MMA demand has improved recently. The slight depreciation of the Japanese yen helped export volumes. In Korea, stronger Korean won versus the US dollar and strong PMMA demand helped the market appear optimistic. Daesan (50:50 JV between Honam and MRC) new 90,000 mt/year MMA plant will start commercial operations in end-May / June. In Taiwan, downstream PMMA plants Chi Mei has fully operated. Local supplier announced NT$2/kg increased in May delivery, prices are settled at NT$60 ~ NT$62/kg ($1830 ~ $1880 pmt) DDP.
In South Asia, apparent price rebound was seen across South Asian countries by $30 ~ $50 pmt from May shipment onward. For 500 mt above customers, orders were settled at $1630 ~ $1680 pmt CFR. Smaller customers were settled at $1680 ~ $1730 pmt in isotank while $100 pmt added on drum packing. MMA demand is getting better in ASEAN, particularly in the cast sheet segment. Most cast sheet producers are fully running in May. In Singapore, Lucite 120,000 mt/year MMA C2 capacity was running at high rate. In Thailand, political turmoil gives the impact to their economy. Cast sheet price is around $2.5 ~ 2.7/kg. PMMA pellet price is around US$1,900~1,950 pmt.
[ 2009-04-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Apr. 2009
MMA market appears rebounds in April after weakening for couple months. There are good reasons to stop MMA price declining in April including several PMMA plants improved production, raw material cost starting moving upward and ocean freight lift on 1st of April . To go with Chinese government was stimulus package which gave rebates to rural consumers, likely television, fridge or cell phones. It’s boosting production of PMMA/MMA demand in Asia region. On the other side, MMA supply is sufficient in Asia and aggregated by deep sea cargo continues coming in from Europe and USA to reflect weakening and poor offtake in local market demand. As a result, MMA producers decided to roll over March price to April shipment. MMA prices for 500 mt above isotank order were settled in the ranges of $1,600 ~ $1,630 pmt CFR for April shipment. The outlook for May is more optimistic and stable.
In North Asia, China domestic market MMA price raises slightly to reflect the tightness and rebounds of demand. Secco will shut down its 900,000mt/year plant for 60-70 days in the beginning of May in the cause of increasing its ethylene capacity to 1.2 million tonnes/year. MMA prices were increasing to RMB 13,000 ~ RMB 13,500 pmt in China market. In Korea, MMA supply had been ramped up in response to improved demand from the PMMA sector, but shrinking margins especially for PMMA and a weak Korean won to justify lower price expectations. In Japan, higher inventory of MMA drove MMA producers continue pushing sales in Asia market. In Taiwan, domestic market is stable. Chi Mei PMMA plant was full running because of rush order from China market. April MMA price is ranging from NT$60 ~ NT$62/kg (US$1,830 ~ $1,880 pmt CFR ) DDP.
In South Asia, demands and enquiries were getting better. Most cast sheet improved running rate to 80~90%, but suffering from declining cast sheet price and rush orders. In Indonesia, PT Astari 1500mt/yease capacity cast sheet plant delayed commission due to sluggish market demand. In Singapore, Sumitomo Chemical had restarted its third MMA line of capacity 90,000 tonne/year on 25 March since mid-December amid poor regional demand. Lucite new 120,000 tonne/year MMA C2 capacity was keeping 70% running rate. In Thailand, Thai MMA was restarting its 90,000 tonne/year MMA plant on 2 March. The annual holiday “Songkran Festival” will start on 13th to 16th of April. ASEAN MMA producers are pricing MMA at $1,600 ~ $1,650 pmt CFR for isotank delivery and $1,730 ~ $1,780 pmt CFR for drum packing. Cast sheet price is setting around $2.5 ~ 2.7/kg. PMMA pellet price is around US$1,850~1,900 pmt.
[ 2009-03-01 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Mar. 2009
In March, MMA prices is facing the most tough challenge after demand in general is weak and shrinks by 40% across market sector. On the supplier side, AN is still very pressed for price and demand based on current propylene price, cost can’t be justified to produce AN. Therefore, the shortage of HCN material made low operating rates and higher fixed costs for ACH , MMA suppliers were difficult to offer much lower price now.
Producers expressed hope that a rebound in upstream feedstock values could help stabilized prices in March shipment. On the demand side, due to buyers felt that prices had not hit a bottom and economic crisis didn’t turn for the better, thus, buyers is willing to holding back and take wait and see attitude. MMA prices slide to $1,650 pmt - $1,700 pmt CFR Asia. The outlook of April is more conservative and most likely slight downward.
In North Asia, due to MMA price clashed in past months in China, the prices had now dropped too low to sustain, thus, some producers had announced price increase CNY 1,000/mt in March. MRC 90,000mt/year MMA plant in Huizhou is still shut down, the restart date would be decided after a review of the market situation. Chinese local MMA price stabled at Yuan (CNY) 12,000-12,500/mt DEL. Evonik Shanghai 100,000mt/year new capacity kept on going and will on commission in Q3 2009. In Korea, MMA price is soften due to weak Korea won on import prices. A small rebound was also seen in the transparent ABS sector for LCD TVs, thus, the rebound could be sustained in Q2. In Japan, month end inventories closed to 29,000ｍt.
The high stock made producers keen to liquidate with the financial year closing in March.In Taiwan, producers both FPC and KMC inventory remained low due to slash operations over the past few months. However, Chie Mei got large flat screen order from China and lift up their PMMA production to 90% in Feb and FPC's AN plant was delayed start up till 5th March due to Olefin N0.3 outage and Olefin N0.1 injury suffered on second of March. Thus, MMA is very tight and price is flat in March. Domestic price is at NT$60 ~ NT$62/kg (US$1,830 ~ $1,880 pmt CFR ).
In South Asia, the market demand remains sluggish. Most Cast Sheet makers were keeping 60~70% running rate. In Vietnam, ChoChun has commission their 800 mt per month cast sheet plant in March. Lucite Singapore new 120,000 mt/year MMA C2 capacity was approval by key customers and will produce 60% rate in March.
The lower material cost will more competitive in the future. MMA price for isotanks was transacted between US$1,680-1,730/mt CFR SE Asia and drums was transcated between US$1,800~1,850/mt. PMMA pellet price is around US$1,850~1,950 pmt. Cast sheet prices are chaotic, ranging from $2.45/kg to $2.9/kg. The prevailing prices are $2.6/kg - $2.8/kg. There are some PMMA sheet made in China available in the market and dampened the market price.
[ 2009-02-10 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Feb. 2009
MMA price in Asia is weakening over the past couple weeks. It was fueled by sluggish demand and conservative consumption. On the supply side, current production curbs to 50~60% running rate and lots of makers shut down for maintenance like ” Asahi Kasei (100kpt/year)、 MRC(107kpt/year) in Japan; LG MMA(76kpt/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”.
On the demand side, demand failed to respond from Europe and USA currently and buyers were of the view that prices had not yet bottomed out. Thus, market demand appears quiet. Rebound of basic feedstock prices and improved demand after Chinese New Year, these reasons would eventually help to halt the downward slide in prices. Prevailing market price is around US$1,750/mt CFR and the outlook for Feb. is a more stable MMA price.
In North Asia, China demand remains sluggish. Price is in the range of RMB 12,000 ~ 12,500 pmt delivered base. China government has announced the policy to stimulate domestic market. It will be optimistic after Chinese New Year. In Japan, producers were exerting downward pressure on prices as offtakes from most customers in the PMMA, cast sheet and emulsion segments remained weak. Japanese MMA inventory was around 29,000 tonnes, more than normal levels of around 20,000 tones.
The strong Japanese Yen pressured export market. In Korea, the weak demand from PMMA was push through MMA maker shut down or reduce their production rate. Financial problem didn’t improvement. In Taiwan, Local supplier has announced NT$3/kg reduction from Feb. Domestic price is at NT$60 ~ NT$62/kg (US$1830 ~ $1880 pmt)
MMA supply in South Asia appears to be sufficient to cope with the lacklustre demand. Most Acrylic sheet producers are suffering from sluggish demand both export and domestic.
In Indonesia and Vietnam, domestic market decreased 30~40% compared with January. ChoChun delayed on stream their 800 mt per month cast sheet plant till 2009 because of equipment problem. In Thailand, the market is re-shuffling and dampened due to the unstable political situation and economical recession. Lucite Singapore new 120,000 tonne/year MMA C2 capacity was coming on stream in Q1 2009 after the key customers approval for the free sample products. MMA price for isotanks was transacted between US$1,730-1,780/tonne CFR SE Asia and drums was transcated between US$1,830~1,880/tonne. PMMA pellet price is around US$2,000~2,050 pmt. Sheet market price decreased to US$ 2.6 ~ 2.8/kg.
[ 2009-01-07 ]
[Acrylic World Newslette News]
Acrylic World Newsletter -Jan. 2009
MMA prices is facing the most tough challenge due to the sluggish demand and MMA suppliers didn’t downturn reflect acetone, methanol, propylene prices shoot down recently before Lunar Chinese New Year.
On feedstock side, because of the crude oil prices slump to US$40~50, so naphtha/acetone were decreasing lower than US$400/mt and methanol/ ammonia were lower than US$200/mt. On the supply side, regional MMA producers including, LG MMA (50,000mt/year) in Korea、MRC(100,000mt/year) and Mitsubishi Gas (50,000mt/year) in Japan, MRC (90,000mt/year) in China, Tai MMA(90,000mt/year) in Thailand, FPC(84,000mt/year) in Taiwan and Sumitomo Chemical in Singapore (90,000mt/year) scrambled to shut down during Dec. 2008 ~ Feb. 2009 and others are cutting their running rate owing to poor market fundamentals. As the result, most suppliers are willing to keep stock, buyers are holding back and take wait and see attitude. MMA price remains flat to weaken at US$ 1,850 ~ 1,900/mt CFR price level for Jan shipment. Further lower prices are anticipated for the coming months.
In North Asia, shrinking margins and weakening demand are seen from all downstream sectors like PMMA, transparent ABS and emulsions. In China, MMA price has been driven down to RMB 13,000 pmt ~ RMB 13,500 pmt on the back of weak demand with most downstream. Lucite Shanghai was cut 50% running. In Japan, MMA producers were suffering with strong currency rate. Market appeared balance. In Korea and Taiwan, PMMA producers and transparent ABS had reduced production drastically resulting in a sharp drop in MMA demand in line with the bleak economic scenario. PMMA producers like Chimei, Arkema, LG MMA and Sumitomo had either shut or slashed operations. Taiwan local MMA producers have decided to reduce NT$4/kg due to soften demand in January 2009, prices were settled at NT$68 ~ NT$71/kg DDP (US$2,050 ~ US$2,100 pmt) DDP.
In South Asia, cast sheet makers were suffering by the worsen demand and higher MMA price reflected slow offtakes from customers. MMA price was settled at US$1,900 pmt - US$1,950 pmt CFR and drum prices were US$2,000~2,050 pmt CFR. Sumitomo Chemical Singapore MMA plant second line (80,000mt/year) prolongs maintenance till Q2 2010. Lucite has commissioned 120,000 tpa MMA plant already. In Thailand, politics tumultuous made economy frozen. Cast sheet prices are chaotic, prevailing prices are $2.7/kg - $2.9/kg. PMMA pellet price is around US$2,000~2,150 pmt.
[ 2008-12-13 ]
[Stanley Glass News]
President Ma visited Stanley Glass for the symposium and a tour at glass plant. He also spent 20 mimutes listening the presentation and discuss with our president about the future development of traditional filed like glass industry. As the recognition and praise from most powerful person in our country, we would put great effoet to make any improvements for the better future and higher quality,service.
The picture of President Ma and Mr. Chung Ko Ming.