01 June 2012 08:28 [Source: ICIS news]
SHANGHAI (ICIS)--China-based Huizhou MMA plans to raise the operating rate at its 90,000 tonne/year methyl methacrylate (MMA) unit in Guangdong province to 100% capacity over the weekend of 2-3 June, a company source said on Friday.
The plant was restarted on 31 May after 21 days of maintenance, he added.
Supply is expected to increase as a result of the plant restart and this may exert further downward pressure on prices, said market players.
MMA prices in east China were down by yuan (CNY) 100/tonne ($16/tonne) week on week at CNY16,100-16,300/tonne EXW (ex-works). Prices in south China were hovering at CNY16,400-17,200/tonne DEL (delivered) on Friday, down by CNY200/tonne at the low end of the range compared with the same period a week earlier, ICIS data showed.
Huizhou MMA is a subsidiary of Japan’s Mitsubishi Rayon Co (MRC).
The majority of China’s MMA production goes into cast and acrylic sheet applications.
Additional reporting by Junie Lin
($1 = CNY6.37)
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