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[Market information]：MMA: Analysis of M MA market trend in February and changes in the rise and fall of related main raw materials

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At the beginning of February, it was during the Spring Festival holiday, driven by the cost, and the parking of some factories decreased, MMA quotation was raised after the Spring Festival, and the focus of negotiation was gradually improved. However, the recovery of downstream demand still needs a certain period of time. Some end users mainly consume contracts, and the purchase of new orders is limited. After the MMA market rose, the transition was strong, MMA market trading was slightly deadlocked this week.

Figure 1 domestic MMA market price trend chart in 2022

2022年国内MMA市场价格走势图.jpg

as of February 22, the secondary market in east China referred to 12200-12500 yuan/ton, with a month-on-month growth of 4.66%, while the market negotiation in south China referred to 13000-13400 yuan/ton, with a month-on-month growth of 8.20%. In February, MMA market prices and major raw materials for production all went up and down.

Figure 2 market price trend chart of domestic MMA industry chain related products from 2021 to 2022

2021-2022年国内MMA产业链相关产品市场价格走势图.jpg

data source: Longzhong Information

table statistics of monthly average prices of M MA market and related products in February, 2022 (unit: yuan/ton)

product	region	2022/2/22	2022/1/22	2022/2/22	ring ratio	yoy	price type
isobutylene	shandong region	11750	10000	7900	17.50%	48.73%	spot Exchange self-raised price
acrylic nitrile	east China port	11100	11400	13000	-2.63%	-14.62%	spot Exchange self-raised price
acetone	jiangsu market	5400	5550	8500	-2.70%	-36.47%	spot Exchange self-raised price
MMA	east China trade market	12350	11800	14800	4.66%	-16.55%	pay-as-you-go price
MMA	south China market	13200	12200	15100	8.20%	-12.58%	account delivery price
PMMA particles	east China market	15000	14700	16500	2.04%	-9.09%	pay-as-you-go price
butyl acrylate	east China market	15900	14900	17500	6.71%	-9.14%	acceptance and delivery price
styrene	jiangsu market	8950	8400	9400	6.55%	-4.79%	spot Exchange self-raised price

data source: Longzhong Information

compare the data of each product in the previous table in the same period in January, isobutene rose most obviously, up 17.50% month on month. Secondly MMA in south China, butyl acrylate, styrene and MMA in East China increased by 8.20%, 6.71%, 6.55% and 4.66% respectively, most of the reasons for the rise are raw material promotion and less supply. Product changes are not obvious compared with the previous decline. Year-on-year data, isobutene rose 48.73% year-on-year, acetone fell-36.47% year-on-year, respectively, as the main raw materials of the two upstream processes of MMA, the increase and decrease vary greatly.

In the short term, some products still need time to digest due to the large increase in the early stage. As far as MMA market is concerned, short-term supply is expected to increase slightly, while the start-up of terminal enterprises is gradually increasing, and the trading activity is expected to further improve. With a new order or negotiation or guidance at the end of February and early March MMA market trends further trend towards clarity.

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