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On February 23, Asian MMA CFR China prices hit their highest level since S&P Global Platts began assessing the market in June 2020, driven by a shortage of raw material acetone, soaring domestic prices in China and a sharp recovery in demand
The surge in CFR China prices was mainly due to the soaring domestic MMA prices in China, which rose 3.
The surge in CFR China prices was mainly due to the soaring domestic MMA prices in China, which rose 3.
Sources said the U.
A sharp recovery in downstream industries also boosted MMA prices
.
On the downstream side, on February 23, Asia PMMA general resin CFR China was 2,100 US dollars / ton (injection grade), an increase of 38 US dollars / ton from the previous day, due to rising raw material prices and domestic prices
.
In December 2020, China's monthly automobile production increased by 11% year-on-year to 10.
62 million units
.
The planned maintenance of MMA factories is also the reason for the tightening of MMA supply in Asia
.
South Korea's Lotte MCC has closed its 110,000-ton/year MMA plant in Yeosu for maintenance since mid-February
.
