The forecasts were revised down particularly after the second quarter of next year. The lower prices in September moved the future price curve at a lower level.
The expectation of a softer trend is also to do with the fall in gas prices and demand declining at a faster rate than expected. Next year, weak economic conditions and expectations of lower gas prices should place more pressure on values.
Meanwhile, visibility has continued to decline due to the ongoing volatility in the energy markets. As the war continues, market participants should continue to experience swings in energy and feedstock costs.
Nonetheless, a bigger dip in PMMA prices is not expected in the short term despite the fall in demand, mainly due to the persistent pressure from energy costs.
However, the prospect of some further small downward adjustments is possible, provided demand remains subdued amid more stability in the energy markets.
As much of the pressure is related to geopolitical events, an end to the war in the Ukraine could once again change the outlook considerably.
However, such an event seems unlikely. In fact, there is more of a chance that the war will continue into 2023.
The volatility should persist and will probably get worse during the winter as gas demand rises amid slowing economic activity, preventing a clear trend from getting established.
The market update is an exerpt fromt the monthly report.
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The GC Intelligence™ Polymethyl Methacrylate (PMMA) Market Prices, Forecasts, and Analysis report is published during the third week of the month. The report provides market insights and analysis and tracks High Impact, Injection Moulding, and Extrusion PMMA prices.
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