05 March 2012 07:15 [Source: ICIS news]
By Junie Lin
BRISBANE (ICIS)--Methyl methacrylate (MMA) prices in ?xml:namespace>
Asian MMA producers are aiming for a $50-100/tonne (€38-76/tonne) increase in March prices from February to protect their margins, given high spot values of feedstock naphtha.
Naphtha soared to a 46-month high late last week, with a sale tender from
MMA prices for cargoes of 20-300 tonnes stood at $2,020-2,150/tonne CFR (cost and freight) SE (southeast)
Opportunity for arbitrage trades to the
Asian sellers have received late last week strong buying enquiries from US MMA producers, which are hard-pressed to make good on their domestic contractual commitments as their own output is being limited by a shortage of feedstock and high cost of production, they said.
Two US-based producers are currently seeking 5,000 tonnes each of MMA cargoes from
The arbitrage window between the
Asia bulk prices are likely to be cheaper by $145-315/tonne than US prices, at $2,280-2,330/tonne CFR
In the week ended 2 March, February US MMA prices FD (freely delivered) rail-car at $2,425.08-2,645.54/tonne, while Asian cargoes of more than 500 tonnes were at $2,130-2,180/tonne CFR SE Asian, according to ICIS.
Some major traders in
But so far, most major Asian producers had to reject the buying enquiries from the
“We were asked to sell 3,000 tonnes of MMA but we rejected it as we are low on stocks,” said a source from Asahi Kasei of
Asahi Kasei’s 100,000 tonne/year MMA plant in
Mitsubishi Rayon’s 50,000 tonne/year No 2 line in
Daesan MMA’s 90,000 tonne/year MMA plant in
Polymethyl methacrylate (PMMA) is the other major application, and PMMA plants in
PMMA is a transparent thermoplastic, often used as a light or shatter-resistant alternative to glass, with downstream application in televisions with light crystal display (LCD) or light emitting diode (LED) screens.
($1 = €0.76)
Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections