SINGAPORE (ICIS)--Spot polymethyl methacrylate (PMMA) prices in Asia are poised to stay high as long as costs of feedstock methyl methacrylate (MMA) fails to soften, market participants said on Thursday.
As spot trade for August shipment supplies starts taking off this week, market participants said that pricing discussions had risen across the region by at least $20-50/tonne from July.
Working buying indications were heard higher by at least $30/tonne than previous week's levels, for cargoes available to ship in southeast Asia.
For cargoes headed to China, discussions were heard in the $2,400-2,500/tonne CFR (cost and freight) China range, with deals heard done at the higher end of the range.
PMMA were assessed on 20 July at the average of $2,500/tonne and $2,415/tonne, respectively, for July supplies available to ship to southeast Asia and China, according to ICIS data.
PMMA prices are expected to stay on a firm uptrend, underpinned by excessive cost pressures on PMMA makers.
Prices of MMA, which is a key feedstock for PMMA, had risen so sharply in the last six months, causing PMMA makers’ margins to bleed.On 21 July, MMA was valued at an average of $2,575/tonne CFR SE Asia for small cargoes of 20-300 tonnes, ICIS data showed.
Pictured above: PMMA is a transparent thermoplastic, often used as a light or shatter-resistant alternative to glass, with downstream application in production of televisions with light crystal display (LCD) or light emitting diode (LED) screens. (Source: omageBROKER/REX/Shutterstock)