Price trend

According to the Commodity Market Analysis System of SunSirs, the focus of the domestic NMP market continued to shift downwards in February, indicating an overall weakness. At the beginning of February, the average price of electronic grade NMP was 12,566 RMB/ton. On February 29th, the average price was 12,300 RMB/ton, a decrease of 2.12%.

Analysis review

In February, the domestic NMP market continued to decline. As of the 29th, the mainstream retail price for electronic grade NMP in China was 11,800-12,500 RMB/ton. Affected by traditional festivals, the NMP market had a weaker off-season in February. At the beginning of the month, due to poor profits, downstream companies prepared to suspend work and take a holiday in advance, and market transactions gradually decreased. The market was basically closed during the Spring Festival period. After the holiday, the downstream launch was slow, and NMP enterprises actively sold goods. However, the market atmosphere was cold, and NMP was under pressure to decline.

The domestic BDO market remained stable in February. From February 1st to 29th, the average domestic BDO price increased from 9,421 RMB/ton to 9,428 RMB/ton, with a price increase of 0.07% during the cycle.

Market outlook

According to NMP analysts from SunSirs, the downstream follow-up of NMP prices was slow, and the market mentality was poor. Without clear positive signals to guide it, it is expected that NMP prices will consolidate and operate at a low level in the short term.

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