China’s January-August PMMA imports rise 32%

26 September 2008 09:26  [Source: ICIS news]

SINGAPORE (ICIS news)--China imported around 122,000 tonnes of poly methyl methacrylate (PMMA) from January to August of 2008, some 32% higher than the same period last year, according to recently released trade statistics.

Imports grew due to high demand from transparent sheets for automotive, toy and construction industries as well as from the flat screen computer monitors industry where PMMA is used to make light guided panels.

PMMA demand had been sluggish in the past weeks due to the sharp fall in prices of many competitive polymers like polycarbonate and polypropylene, said a northeast (NE) Asian trader.

PMMA prices had continued to remain high due to high costs of feedstock methyl methacrylate (MMA).

PMMA was assessed at $2,500-2,600/tonne cost and freight (CFR) China, according to ICIS pricing while MMA was trading at $2,350-2,450/tonne CFR NE Asia, which reduced the usual $200-300/tonne spread between MMA and PMMA.

Many regional PMMA plants had lowered operating rates due to falling margins and weak demand.

South Korean PMMA producers like LG MMA and Arkema were running at low rates, said company sources.

The newly started 40,000 tonne/year PMMA plant of Daesan MMA might also reduce operating rates in the coming month, said a company source on Friday.

Other big PMMA producers in Asia include Sumitomo Chemicals and Chimei.

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By: Anu Agarwal
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