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Platts Asia Methyl Methacrylate Assessments

  • What are Asia Methyl Methacrylate price assessments?
  • How we assess Asia Methyl Methacrylate prices
  • Platts Asian MMA Weekly Commentary
  • Platts Asian MMA Daily Rationale

What are Asia Methyl Methacrylate price assessments?

The CFR China and CFR Southeast Asia daily assessments ($/mt) reflect spot cargo sizes of 500-1,000 mt for delivery 15-30 days forward from the date of publication.

The assessments reflect deliveries into East China and Southeast Asia with a specific gravity 20°C/4°C 0.942 to 0.946, the free acid content of 0.005% or less, moisture content (KF method) of 0.05% or less, monomer content of 99.8% or more, number of colors (APHA) at 5 or less, and free acids (methacrylic acid) at 0.005% or less.

Price assessments are complemented by a weekly commentary published on Wednesday, and a daily rationale, which explains how the price assessment is reached and delves into the market fundamentals observed through the week.

How we assess Asia Methyl Methacrylate prices

Platts assessments are based on market information, including, but not limited to, firm bids and offers, and trades reported to the editor up to the close of business (4.30 pm Singapore time).

All the information used to inform the assessment is published transparently on Platts platforms as "heards". An assessment rationale is published explaining what the assessments are and how they have been reached.

A weekly market commentary accompanies the daily price assessments and rationale, which highlights the most important trends that have affected the markets that week and provides insight into what the market expects over the coming weeks.

Find out more about Platts methodology and specifications here >

Platts Asian MMA Weekly Commentary

  • China's weaker automotive sector dents PMMA demand
  • S Korea's May MMA exports to US slip 1.9% on month to 2,121.5 mt

Asian methyl methacrylate CFR China marker was assessed lower -- both on a day-on-day and week-on-week basis June 23 -- in line with softening China domestic MMA prices.

Downstream, both the CFR China and the CFR SEA polymethyl methacrylate for general purpose, injection grade were unchanged June 23.

In market news, South Korea's methyl methacrylate exports to the US inched 1.9% lower on the month to 2,121.50 mt in May, according to the latest data from Korean Customs. However, the May MMA exports from S Korea to the US spiked by more than 17 times compared with the same month last year at 120.30 mt.

The volume of Asian MMA heading to the US has risen since the beginning of the year due to a disruption in feedstock acetone production, which left the US in short supply of MMA, S&P Global Platts reported previously. The tight MMA supply in the US was exacerbated by the polar vortex, which brought subfreezing temperatures to much of the US during January-February this year, causing many refineries and petrochemical plants to shut operations. As a result, at least two major MMA producers in the US declared force majeure on the petrochemical given the shortfall of feedstock acetone in late January.

The tightness in the US MMA market has not been fully resolved, even after the producers lifted the forces majeures, several market sources told Platts earlier.

The CFR China MMA marker rose to a record high $2,135/mt on March 2, the highest since Platts first started assessing MMA in June 2020. The CFR China marker has since retreated to $1,919/mt on June 22 following an increase in new capacities in China and many plants in Asia restarting production after a heavy turnaround season.

In the PMMA market, softer demand from China's automotive sector was of some concern.

In May, China's car production fell 1% year on year to 780,000 units, while SUV output declined 2.1% year on year to 715,000 units, according to the National Bureau of Statistics of China. The loss in PMMA demand from the automotive sector was largely compensated by the sharp increase in demand from the semiconductor sector, a trader based in Singapore said.

"[PMMA] demand [in July-August] will depend on PMMA production of protective shield for COVID-19 as well."

Platts Asian MMA Daily Rationale

Asian methyl methacrylate CFR China marker was assessed down $5/mt day on day at $1,914/mt June 23 in line with softening domestic Chinese MMA prices.

The China domestic MMA fell 1.56% day on day at Yuan 12,633.33/mt. The CFR China MMA marker took the average of H1 July and H2 July. The CFR SEA MMA marker was assessed down $1/mt day on day at $1,994/mt, tracking the weakness in the adjacent CFR China MMA marker. This rationale applies to symbol(s) <AMMAC00> <AMMAS00>

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