| Product |
Category |
Region |
Price |
Time Period |
| Methyl Methacrylate |
Chemicals |
India |
1645 USD/MT to 1693 USD/MT (CIF) |
Q1'24 |
Stay updated with the latest Methyl Methacrylate prices, historical data, and tailored regional analysis
Asia
In China, methyl methacrylate prices have shown a steady increase after a period of stagnancy during the first quarter of 2024, supported by a strong trend in upstream prices and stable downstream PMMA demand. The feedstock market also exhibited striking stability with a slight uptick in late March, further supporting the pricing trajectory of methyl methacrylate. Additionally, upcoming maintenance in the major manufacturers of the market reduced the domestic market supply, providing positive cost support for methyl methacrylate.
The downstream demand for methyl methacrylate, particularly driven by the increasing popularity of electric vehicles, also remained on the higher end and exceeded the expectations of the traders. However, the onset of the Chinese New Year holiday season and spring festivities slowed the growth of the methyl methacrylate market, resulting in the stagnant stance of the pricing patterns. In India, however, exceeding demand and limited supply raised the price quotations from 1645 USD/MT to 1693 USD/MT (CIF). This incline in the prices was the reflection of robust growth of the downstream industries and increasing demand for the commodity from the overseas players.
Europe
Throughout the first quarter of 2024, the European methyl methacrylate market experienced price stability despite ongoing demand challenges. High energy and feedstock costs, along with constrained supplies, moved the traders to raise their pricing quotations despite economic pressures limiting demand. Additionally, the surging global crude oil prices resulting from geopolitical tensions further accelerated the momentum of the methyl methacrylate market.
The production disruptions, including a rail strike and shipping tensions and contraction of manufacturing activity in Germany amid averaging demand from automotive and construction sectors, eventually resulted in oscillations in the pricing patterns of methyl methacrylate. However, the traders were concerned over limited inventories, high production costs, and swindling profitability of the European manufacturers.
North America
During the first quarter of 2024, methyl methacrylate prices in the USA experienced slight oscillations on a month-on-month basis. The acceleration in the EV and automotive sales after a long period of downturn somehow supported the methyl methacrylate price trend in the initial half of the first quarter. However, the persistent trade disruptions and fluctuations in the cost of raw materials depreciated the market momentum throughout the first quarter.
Additionally, the gloomy outlook of overseas sales amid the disruption of the Red Sea trade route and the decline in the water levels of the Panama Canal further elevated the concerns of the manufacturing and trading sectors, resulting in cautious movements of both sectors and limiting the growth potential of methyl methacrylate prices.