The adjustment, varying based on product grade specifications, will see prices escalate by +10% for all dispatches post-February 1, 2024, aligning with the terms of current contracts.
This price revision comes at a time when the European sheet market is navigating through a period of heightened competition, marked by diminishing demand and an influx of aggressively priced imports.
Nonetheless, the industry landscape is undergoing a transformation. The appeal of imports is diminishing, primarily due to the escalating costs and logistical delays stemming from the ongoing Suez Canal complications in the Middle East.
Concurrently, the cost of critical raw materials, notably methyl methacrylate (MMA) and polymethyl methacrylate (PMMA), is experiencing an unprecedented surge. Notably, PMMA prices have seen an increase of up to €500/MT in recent times.