- Heavy turnarounds in June continues to support MMA prices
- Malaysia's MMA imports from Singapore in April falls 8.04% on-month
Continued heavy turnarounds at MMA plants in Asia supported the market sentiment June 9, in spite of the resurgence of COVID-19 cases in many Asian countries.
Asian methyl methacrylate (MMA) CFR China marker was assessed down $10/mt at $1,908/mt on June 9, while the CFR SEA MMA marker was assessed down $8/mt at $1,995/mt.
Week-on-week, the CFR China MMA rose $12/mt, while the CFR SEA was flat.
Downstream, Aian polymethyl methacrylate (PMMA) CFR China was assessed steady day on day at $2,335/mt for general purpose, injection-grade on June 9.
At least two MMA plants were heard to have shut for scheduled maintenance, including the Mitsubishi Huizou's 100,000 mt/year of the MMA plant in Huizhou, China and Jilin Petrochemical's 90,000 mt/year of MMA plant in Zhoushan, China, according to market sources. The estimated production loss during the maintenance in June was at around 33,000 mt, according to the Platts data.
Over in the Southeast Asia MMA market, Malaysia's MMA imports from Singapore fell 8.04% month on month to 2,240.19 mt in April, the latest data from Enterprise Singapore showed recently.
Malaysia's MMA imports from Singapore fell 8.04% month on month to 2,240.19 mt in April, the latest data from Enterprise Singapore showed recently.
Market sources attributed the decline to the resurgence in COVID-19 cases in Malaysia and heightened movement control. Malaysia is one of Singapore's largest MMA importers, followed by India, Vietnam, Indonesia and Philippines.
Singapore's MMA exports to India declined by more than halved, or 54.49%, to 1,306.996 mt in April, the Enterprise Singapore data showed.
Singapore's MMA exports to Indonesia fell 14.66% over the same period to 812.54 mt in April, while exports to the Philippines fell 87.49% to 119.91 mt. The MMA exports to Vietnam rose 34.52% to 878.26 mt.