China's domestic methyl methacrylate(MMA) prices are trading at their record highs and may remain supported by tight supply in both the local and import markets amid plant turnarounds.
methyl methacrylate(MMA) inventory in China has remained low in April following unstable operation at new plants, planned and unplanned shutdowns, and some restocking activities in the previous month.
Spot supply was scarce as major producers were focusing on serving their contract customers at the onset of the maintenance season for methyl methacrylate(MMA) plants.
The scheduled turnarounds in April will result in a further decline in the average run rate of domestic plants from March's 67%, which represented a sharp fall from 80% in February.
Most downstream producers have been raising their prices to pass on the high cost of feedstock MMA to end-users, and were either using up exsting feedstock inventories or buying on a hand-to -month basis to cover immediate reuirements.
Producers of polymethyl methacrylate(PMMA), the largest downstream sector of MMA, are resisting further spikes in feedstock prices that squeeze their margins, since they could not easily pass on the cost to their customers.
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