- CFR China was assessed flat
- Sluggish demand woes amid a resurgence of COVID-19 cases in India
Asian methyl methacrylate (MMA) CFR China marker was unchanged day on the day at $1,917/mt on May 5, quiet discussion due to the long holiday in China, while the CFR SEA MMA marker was assessed unchanged day on the day at $2,025/mt, amid muted discussion due to the golden week holiday in Japan and Children's Day holiday in Korea.
Week-on-week, the CFR China MMA was down $25/mt.
Downstream, Asian polymethyl methacrylate (PMMA) CFR China was assessed flat day on day at $2,350/mt for general purpose, injection-grade on May 5, amid quiet discussion due to the long May Day holiday in China.
In-plant news, Mitsubishi Chemical Methadrylates in Huizhou in China is planning to shut its 100,000 mt/year MMA plant for month-long maintenance in May-June, a source close to the company said May 5. The exact dates were not immediately known.
Despite the heavy turnaround season in Asia since April, some market participants were concerned about sluggish demand amid a resurgence of COVID-19 cases in India and Japan in recent weeks.
"[MMA prices] will stabilize, as demand in India [is] not that strong due to COVID-19 cases," a trader based in India said.
Another trader based in Southeast Asia said, "This [tight supply due to the maintenance] is offset to some extent by a slowdown in [MMA] demand from India."
The MMA production margin out of MTBE was estimated at around $191.95/mt, while the MMA production margin out of acetone was at around $646.77/mt as of May 4, when the weekly assessment is published, S&P Global Platts data showed.