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I. Recent Market Dynamics Intelligence
1. Price Trends
- Domestic Market: The mainstream market price of Methyl Methacrylate (MMA) in China is showing slight fluctuations. In the East China region, market prices fluctuate within the range of 13,500 to 14,000 RMB/ton. In the South China region, prices are around 13,800 to 14,200 RMB/ton. In the North China region, prices range from 13,300 to 13,800 RMB/ton. Overall, the magnitude of price changes is small.
- International Market: MMA prices in the Asia region remain relatively stable. The FOB Korea price is at USD 1,750 to 1,800/ton, and the CFR China price is at USD 1,800 to 1,850/ton. Prices in Europe and the US also remain steady, with the US price at USD 2,000 to 2,100/ton and the European price at EUR 2,100 to 2,200/ton.
2. Supply Situation
- Domestic Capacity: Recently, the operation of domestic MMA production facilities has been largely stable, with some companies maintaining full-load production. The overall operating rate is around 80% to 85%. Regarding new capacity, there are no reports of large-scale new facilities coming online.
- Import Situation: Import volumes remain relatively stable, with major sources being South Korea and Japan. Due to the small price gap between international and domestic markets, importers are operating cautiously, procuring mainly on an as-needed basis.
3. Demand Situation
- Downstream Industries: The main downstream industries for MMA are PMMA (Polymethyl Methacrylate) and ACR (Acrylate Copolymer).
- PMMA Industry: The PMMA market is currently stable, with demand for MMA procured on an as-needed basis. Some companies adjust production based on order status, and no large-scale stockpiling has been observed.
- ACR Industry: Overall demand in the ACR market is moderate. Influenced by sectors such as real estate, procurement volumes of MMA have not shown significant growth.
- Other Sectors: Demand for MMA in sectors such as coatings and adhesives also remains relatively stable, with no significant fluctuations.
4. Inventory Situation
- Producer Inventory: Domestic MMA producers' inventory levels are at a medium level. Some companies have seen a slight increase in inventory, but overall pressure is not significant. Due to relatively stable market demand, companies are able to digest inventory in a timely manner.
- Trader Inventory: Trader inventory levels are generally not high, mostly maintained for normal turnover. Traders are hesitant to stockpile large quantities due to concerns about risks associated with price fluctuations.

II. Analysis and Judgment
1. Reasons for Price Stability
- Basic Supply-Demand Balance: Currently, the supply and demand in the MMA market are relatively stable, with no obvious situation of oversupply or shortage. This is the main reason for the narrow price fluctuations.
- Cost Support: Prices for MMA's main raw materials, such as propylene and methanol, have been relatively stable recently, providing significant cost support for MMA. This makes producers reluctant to lower prices.
- Market Sentiment: Market participants are relatively cautious. Producers, traders, and downstream companies are mostly in a wait-and-see mode, with no large-scale procurement or selling behavior, resulting in small market price fluctuations.
2. Potential Influencing Factors
- Policy Factors: The impact of environmental protection policies on MMA producers continues to exist. If environmental requirements are further tightened, it may lead to production restrictions or shutdowns for some companies, thereby affecting market supply.
- Macroeconomic Situation: Changes in the macroeconomic environment will affect downstream industry demand. If economic growth slows, demand for MMA may decrease, leading to price drops.
- International Market Dynamics: Fluctuations in international MMA prices, production changes in major producing countries, and trade policies may all impact the domestic market.

III. Forecasts
1. Short-term Forecast (1-2 Weeks)
- Price Trends: It is expected that MMA market prices will continue to show slight fluctuations. East China region prices may range between 13,400 and 14,100 RMB/ton, South China region prices around 13,700 to 14,300 RMB/ton, and North China region prices between 13,200 and 13,900 RMB/ton.
- Supply-Demand Relationship: On the supply side, production facility operations are stable, with little change in supply volume. On the demand side, downstream industries are procuring as needed, keeping demand relatively stable.
2. Medium-term Forecast (1-3 Months)
- Price Trends: If the macroeconomic situation does not change significantly and the supply-demand relationship remains balanced, MMA market prices may continue to oscillate within a narrow range. However, if downstream industry demand experiences seasonal growth, or if international market prices rise, it may drive domestic market prices to increase slightly.
- Supply-Demand Relationship: As the weather warms up, some downstream industries may enter their production peak season, potentially increasing demand for MMA. However, supply is expected to keep up, and the supply-demand relationship will remain relatively balanced.
3. Long-term Forecast (3-6 Months)
- Price Trends: In the long term, MMA market price trends will be influenced by a combination of factors. If new MMA capacity is put into operation in China, market supply will increase, potentially exerting downward pressure on prices. However, if the macroeconomic situation improves and downstream industry demand continues to grow, prices are expected to remain stable or rise.
- Supply-Demand Relationship: Future changes in the supply-demand relationship will depend on the progress of new capacity deployment and the growth of downstream industry demand. If new capacity is deployed too rapidly while downstream demand growth fails to keep up, the market may face a situation of oversupply. Conversely, if downstream demand growth is strong while supply increases are limited, the market will remain in a state of undersupply.