PMMA prices remain flat in February 2022 amid lacklustre demand and good supply, according to the latests analysis by GC Intelligence.
Polymethyl methacrylate (PMMA) players had hoped for a pick up in activity after the seasonal slowdown in December and January.
However, persistant weak activity in important markets such as sheets and automotive continued to soften overall demand.
While other segments were in better shape, such consumer goods, this was not enough to offset the declines.
This weak demand could prevent producers from passing on the persistent high cost of utilities in the next few months.
Prices gained recently, but current market signals point to a weakening outlook for the rest of the year.
What is more, the latest trade data suggests that higher imports may be fuelling supply. In 2020 and 2021 the data shows an increase in imports compared to 2019.
In this period, it seems South Korean imports increased. And in addition to this, during the same period PMMA imports from Saudi Arabia also increased to Europe.
Nevertheless, with high freight rates, PMMA import prices from Asia were similar or in some cases higher than European prices.