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[PMMA Weekly Review] Costs Weaken and Demand Remains Sluggish, Particle Prices Plunge Sharply

Plastmatch 2026-05-28 18:00:07

I. Key Market Focuses This Week

The price centers of upstream raw materials MMA and methyl acrylate have continued to move downward, significantly weakening support from production costs.
The operating rate in the PMMA pellets industry fell to 53%, down 1 percentage point from last week, and overall production load weakened.
Downstream markets continue to consume existing inventory, new orders are following up weakly, and there are no signs of a recovery in end-user demand.

II. Market Analysis for This Week

During this period (May 22–May 28, 2026), the domestic PMMA pellet market was under overall downward pressure, with the price center notably declining. Mainstream transaction prices ranged from RMB 13,000 to 16,800 per ton.

Upstream raw material performance was weak during the week, with prices of MMA and methyl acrylate in East China declining one after another, directly leading to a continuous weakening of cost support for PMMA production and generally dampening confidence across the industry. On the demand side, which remains the core factor dragging down the market, downstream end-user markets showed little improvement. Companies generally prioritized digesting earlier inventories, while willingness to build stocks proactively stayed subdued, leaving only sporadic restocking for rigid demand in the market and limiting the volume of new transactions. In addition, with month-end approaching, producers stepped up price concessions to accelerate inventory turnover and recover funds, resulting in concentrated selling pressure. The combination of these bearish factors drove a marked decline in PMMA particle prices.

3. Analysis of Market Influencing Factors

Profit margin contractionThe average weekly profit of the PMMA particles industry this period was RMB 1,839/ton, down RMB 518/ton from the previous period. The decline in raw material prices was not enough to fully offset the impact of the drop in product selling prices, resulting in a significant narrowing of corporate profit margins and increased market operating pressure.
Production load declines.This week, the industry operating rate remained at 53%, down 1 percentage point from the previous period. Affected by weaker market conditions and declining profits, some enterprises proactively reduced production loads, leading to a slight contraction in overall industry output. However, the reduction in supply was limited and unable to offset the pressure from weak demand.

4. Market Forecast for Next Week

The domestic PMMA particle market is expected to remain weak next week. Although some plants are scheduled for maintenance, slightly tightening supply and somewhat easing shipment pressure on producers, this will be insufficient to reverse the overall downward trend. Upstream MMA and methyl acrylate will continue to operate at low levels, leaving cost support persistently weak. Downstream buyers will continue destocking, with sluggish follow-up on new orders, and the pattern of procurement based only on rigid demand is unlikely to change.

As the month-end, the market's downward trend may gradually slow down, and the situation is likely to shift.Narrow range fluctuations at a low levelIn a state of consolidation, the overall price fluctuation range has narrowed, and trading activity in the market remains subdued.

V. Key Focus

Supply side: industry unit maintenance and changes in operating rates, pace of cargo release;
Cost side: price trends of MMA and methyl acrylate, and the impact of raw material fluctuations on production costs;
Demand side: downstream inventory drawdown progress, changes in end-market orders and restocking willingness.

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