The upward trend continues and is likely to last into 2021.
MMA spot prices continue to increase in November in Europe, according to GC Intelligence assessments.
Most players report higher numbers on the back of a tightening market.
The increases in November are a further confirmation that methyl methacrylate (MMA) prices remain firmly on an upward trend.
Prices had suffered during the first wave of the pandemic, finding new lows in April. However, since May, prices have started to increase.
And current market feedback suggests that this trend will likely continue into 2021.
The latest MMA spot prices are quoted just above €1500/mt. However, as the market is in constant change, players have different prices. Some are also seeing prices at €1600/mt.
Since the pandemic, there were reductions in operating rates and turnarounds to balance the market. And recently, producers were experiencing production issues, citing a lack of raw material availability, namely acetone.
At one point, one major producer in Europe had to introduce sales controls.
Moreover, MMA prices in Europe are also going up due to a buoyant Asian market, which is supporting prices along the value chain in Europe.