March engineering plastics saw more gains than losses

Jun 04, 2024

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PMMA

In March, the PMMA market supply was significantly lower compared to the previous period. The raw material MMA remained stable with an increase, while acetone recovered after a decline, and the cost side supported PMMA moderately. The purchasing atmosphere on the demand side is acceptable, and the market trading is relatively strong within the month. Leading factors: Currently, the new energy vehicle industry is booming, and PMMA, as one of the raw materials for automotive parts, has seen a significant increase in demand since March. In some regions, there has been a shortage of goods and traders are reluctant to sell. Market forecast: Faced with the current demand gap, although some enterprises have started to expand production, it will take time for production capacity to be released and implemented. It is expected that PMMA prices may maintain a strong trend in the short or even medium term.

PC

In March, the average operating rate of PC in China remained at a high level. In the latter half of the year, some manufacturers will conduct maintenance, and the monthly average load will be around 83%. The weak market trend of raw material bisphenol A continued within the month, and the consumption rate was slow, resulting in weak support for the PC cost side. The downstream consumption of PC follows the logic of early rigid demand, with demand leaning towards maintaining production and digesting inventory. Dominant factor: In March, the PC fundamentals played a moderate game in all aspects, with relatively small fluctuations within the range. In the latter half of the year, some manufacturers underwent maintenance, resulting in a synchronous decrease in production and an increase in supply side benefits. Market forecast: The current PC market is stable with little movement, and the tightening of supply at the end of the month is limited. It is expected that the PC market in the future will be constrained by weak terminal demand, and prices may continue to operate in a narrow range.

PA66

Entering March, the main downstream textile, electrical, and modification enterprises of PA66 have returned to their stock demand. Traders have a strong mentality and are actively engaged in price fixing operations. During the month, PA66 enterprises remained deadlocked in operation with an average monthly operating rate of 62%, which was basically unchanged compared to the end of February. At present, the production of enterprises is stable and there is no accumulation of inventory. Leading factor: The price of raw material hexamethylene diamine has gradually increased due to the impact of multiple price increases from international major factories. The superimposed supply of goods has no pressure, and prices have risen at high levels, providing strong support for the PA66 market. Market forecast: Currently, the load of PA66 enterprises has slightly increased, and upstream fluctuations are mixed. It is expected that the PA66 market may stagnate and remain stable in early April.