Bad luck gathering, MMA industry facing choice

wallpapers Industry 2020-12-09
In the first half of this year, the international crude oil rose by more than 10%, and most of the chemical products rebounded with the crude oil. However, methyl methacrylate (MMA), which has been performing well in recent years, declined against the trend, with a drop of 12.8% in the first half of this year. From the end of March, MMA market began to accelerate the downward trend. In the middle of June, it was as low as 10400 yuan / ton, which set the lowest price record of the product in recent 10 years. Traders suffered serious losses, and producers were also on the verge of loss. The reasons are: on the one hand, the impact of new production capacity; on the other hand, the domestic anti-dumping cases have not been settled as scheduled. In addition, the economic situation is weakening and the downstream demand is weak. The polycarbonate (PC) production capacity, which forms a competitive relationship with polymethylmethacrylate (PMMA), has been put into production in large quantities. The MMA industry has been hit by multiple negative factors, and the market has naturally plummeted. In terms of the new capacity of

and

, the 50000 T / a MMA plant of Hongxu in Shandong Province was put into operation in late February, and its products are mainly supplied by MBS, which has little impact on the market; in April, lucete's new 80000 T / a device was gradually put on the market, and the original fragile balance was broken. However, compared with the large number of imports each year, the impact of new production capacity is not the most fatal. According to the statistics of the customs, from January to may, domestic imports of MMA reached 95000 tons, while 114000 tons were imported in the same period of last year. The import volume decreased by 17.1%. The less imported part can basically offset the new part of production capacity. There should be other reasons for the sharp decline of the market. The failure of

and

domestic anti-dumping policies has a great impact on the market of MMA. On June 18, 2014, Jilin Petrochemical and ZhongMeng Longxin chemical formally submitted an anti-dumping investigation application to the Ministry of Commerce on behalf of the domestic MMA industry. On August 8, the Ministry of Commerce of the people's Republic of China issued announcement No. 53 of 2014, which decided to launch an anti-dumping investigation on imports of methyl methacrylate from Singapore, Thailand and Japan. According to the plan, the MMA anti-dumping case will be established in April this year, and some traders prepare their goods ahead of time for rising prices. However, things went against their wishes, and panic selling occurred under the pressure of high stock market. In terms of downstream demand of

and

, PMMA, as the most important use of MMA, has not been booming in recent years due to the influence of economic environment. In the first half of this year, some manufacturers reported that the consumption of PMMA factories decreased by nearly 20% compared with the same period last year. According to the statistics of the customs, PMMA imported 81000 tons from January to may, compared with 94000 tons in the same period last year, and the import volume decreased by 14.5%.

and

are noteworthy that the competition from PC has a far-reaching impact on the demand for PMMA. PC is a kind of amorphous thermoplastic resin with excellent comprehensive properties, which competes with PMMA in many aspects and has better properties. Thanks to the rapid expansion of domestic phenol / acetone production capacity in recent years, PC has been widely used. On December 16, 2014, Bayer materials science announced that its new polycarbonate (PC) sheet plant in Guangdong, China had been put into operation; in April this year, the 100000 t / a plant of Ningbo zhejie Dafeng phase I was put into operation as scheduled; other planned PC projects before the end of the year were more than 400000 tons. The data of domestic PC import is also significantly better than that of PMMA. According to customs statistics, the total import of PC from January to May was 576300 tons, which was 601200 tons in the same period of last year, and the import only decreased by 4.1%. This shows that the decline in downstream demand is not as exaggerated as that faced by PMMA industry, and the reasons are worth pondering over. The competition of

and

from PC is fatal to MMA industry. PC industry seems to have more development potential no matter in terms of industry scale, cost or performance. The MMA industry is facing a similar choice from OPEC: whether to market or maintain high profits, maybe it is time to make a choice.


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