Home Latest News & Insights MMA PRICES CONTINUE TO SOAR IN MARCH 2024

MMA PRICES CONTINUE TO SOAR IN MARCH 2024

March 5, 2024
demand increase

MMA prices continue to soar. In Europe, spot prices keep surging in March amid shortages, now standing well above €2000/MT and, in some instances, reaching €3000/MT or slightly more.

Primarily, a lack of cargoes and severe delays from Asia and Saudi Arabia drive the shortage, with the US contributing little to nothing.

Moreover, raw material shortages have reportedly impacted operating rates in Asia, further contributing to the scarcity.

Under these current conditions, buyers have increasingly turned to European sources, where offers stand notably high due to this sudden spike in demand.

Despite downstream demand remaining low, buyers, struggling to secure volumes, find themselves with no option but to accept these elevated prices.

The Chinese New Year has exacerbated delays, affecting the timely arrival of cargoes, with some shipments not expected to reach Europe until the end of May.

The region’s offers also mirror this tight situation, with delivery times now extending to the end of June.

The relentless climb in prices shows no sign of slowing, reflecting the significant challenges the market faces due to these compounded issues.