Before the festival, the MMA market price rose, from the cost side, on December 29, Jiangsu acetone reference near 7000 yuan/ton, the cost support is ok. But it is not the main driver of price increases. The supply side dominated the market trend in December, due to the low capacity utilization rate of the factory, coupled with the delayed restart of Zhejiang Petrochemical before the holiday, Shandong Hongxu temporary parking, the supply side was further tightened, and the average capacity utilization rate was 48% in the week before the holiday. Floor offers continued to rise slightly at the end of the month after a wide rise in December. East China secondary market, December 29 compared with December 22 rose 125 yuan/ton, a cumulative increase of 1500 yuan/ton within months.

In terms of terminal products, although the downstream industries have different increases, the cost transmission is relatively lagging, and the increase is less than the raw material change, the high-end shipment of terminal products is general, and the raw material procurement is maintained. As of December 29, the focus of PMMA particle East China market negotiation centered on 14500-15700 yuan/ton, and there are still some slightly higher offers. Pure acrylic emulsion rose slightly, with limited growth, the price is 7500-9100 yuan/ton.

As of December 28, the average weekly capacity utilization rate of the MMA industry was 48%, the gross profit of the double process rose, and the gross profit of ACH method and C4 method was 1308 yuan/ton and 1667 yuan/ton, respectively, which fell by +13.63% and +40.00% compared with December 21. The main reason for the increase in gross profit is mainly due to the increase in MMA price supported by supply, in addition to the increase in ACH process, C4 process raw materials fell, so the rise and fall are different.

At the upstream end, as of December 28, due to the recovery and restart of some devices in the last week before the festival, the weekly average capacity utilization rate of phenol ketone devices increased by 3 percentage points to 71%. The gross profit of phenol ketone was 211.5 yuan/ton, down 66.82% from the previous quarter. The cost can be supported by MMA.

At the downstream end, PMMA particles and acrylic emulsion started stable, and gross profit increased slightly, mainly because of its price increase. As of December 28, the gross profit of PMMA particles and styrene acrylic emulsion were 392 yuan/ton and 605 yuan/ton respectively.

In summary, according to Longzhong data monitoring, the profit level of MMA double process before the festival is relatively higher than that of upstream and downstream varieties.

Before the festival, some factory equipment or maintenance or negative, Zhejiang delayed the restart, Shandong Hongxu temporary parking, the supply side further tightened. The spot supply on the floor is sufficient, and the focus of the negotiation is shifted. After the holiday, Shandong factory recently planned to resume, Zhejiang Petrochemical and other MMA devices dynamic follow-up. The short-term supply side is difficult to fully recover, and there is still some support for the market, the short-term market is relatively high, and the dynamics of factory equipment are concerned.