SINGAPORE and LONDON and NEW YORK, June 11, 2020 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced the launch of new price assessments for methyl methacrylate (MMA), used in the manufacturing of Perspex/Plexiglas*, a personal safety material in high demand due to the global coronavirus pandemic."
The new assessments expand Platts' existing suite of petrochemicals price assessments, including markets upstream from MMA, such as methanol, gasoline and methyl tert-butyl ether (MTBE), an emissions-reducing additive for unleaded gasoline.
Shelley Kerr, global head of petrochemicals markets, S&P Global Platts, said: "While our market consultation pre-dated the Covid-19 outbreak, our decision to publish MMA price assessments couldn't come at a more important time. Producers, traders and buyers - like no other time in history- need full price insight across the entire value chain, upstream and downstream of MMA, due to an unprecedented surge in demand for plexiglass as retailers, hospitality firms and many others seek to improve safety for their staff and customers."
The new MMA assessments will bridge the gap in available price information and meet the markets' desire for an independently-produced daily price reference for MMA, not only used in plexiglass, but also such materials as exterior paints, adhesives, and illuminated light displays.
The new price assessments - Platts MMA CFR China and Platts MMA CFR South East Asia - reflect methyl methacrylate cargoes of between 500 and 1,000 metric tons delivered on a cost and freight (CFR) basis to China ports and South East Asia between 5- to 30-days forward from date of publication.
Vanessa Ronsisvalle, regional pricing director, Asia petrochemicals, S&P Global Platts, said: "Both China and South East Asia are active trading hubs with well-developed spot liquidity and trade flows infrastructure, making them ideal locations for these new MMA price assessments, especially in light of expected growth. China's annual methyl methacrylate demand growth is expected to be about 6%, double the expected MMA demand growth of Asia at large."
The new assessments will follow a Platts Market-On-Close (MOC) price assessment methodology, with the daily end-of-day price assessment reflecting values as determined between buyers and sellers in the open physical markets. For additional details, consult this methodology and specifications guidelines page. For additional information on the MMA price assessments, contact ([email protected])
More petrochemicals information at https://www.spglobal.com/platts/en/commodities/petrochemicals.
S&P Global Platts has been covering petrochemicals markets for nearly 40 years and has an extended suite of aromatics and olefins and price assessments regionally and globally.
*Brand names commonly also used to generically describe the glass-like, acrylic-type materials such as plexiglass.
Americas: Kathleen Tanzy + 1 917-331-4607, [email protected]
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SOURCE S&P Global Platts