Price trend

According to the Commodity Market Analysis System of SunSirs, the focus of the domestic NMP market continued to shift downwards in March, indicating an overall weakness. At the beginning of March, the average price of electronic grade NMP was 12,300 RMB/ton, compared to 12,133 RMB/ton on March 29th, a decrease of 2.12%.

Analysis review

In March, the domestic NMP market continued to decline. As of the 29th, the mainstream retail price for electronic grade NMP in China was 11,800-12,200 RMB/ton. There was no significant improvement in the market situation in March. On the contrary, raw material prices showed a significant decline at the end of the month, exacerbating the wait-and-see atmosphere in the NMP market. The support on the raw material side had weakened, and the demand side had also been lackluster in following suit. Business operators lacked confidence in trading, and NMP companies adjusted prices to stimulate sales.

The domestic BDO market was weak and downward in March. From March 1st to 29th, the average domestic BDO price dropped from 9,428 RMB/ton to 9,330 RMB/ton, with a 1.04% decrease in price during the cycle.

Market outlook

According to NMP analysts from SunSirs, as of March 29th, the downstream follow-up of NMP prices had been slow, and the market mentality was poor. Considering that the industry's profits were in a state of loss by March 29th, it is expected that NMP prices will maintain a consolidation operation at low levels in the short term.

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