SunSirs: The Decline in the NMP Market Had Slowed Down This Week (April 3-7)
April 11 2023 11:30:24 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the decline in the NMP market slowed down this week and entered a sideways consolidation stage. At the beginning of the week, the average price of electronic grade NMP stabilized at 18,333 RMB/ton, while the average price over the weekend was 18,166 RMB/ton, a decrease of 0.91%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, as of Friday, the mainstream quotation in the domestic electronic grade bulk NMP market was 15,500-16,500 RMB/ton. On the market buying sentiment remained relatively weak, with downstream bargain-hunting and mostly small orders traded. The NMP factory had a strong willingness to destock, and the quotation followed the market, with a slight downward shift in transaction focus.
Raw materials: This week, BDO experienced a rebound in price. Due to the shutdown and maintenance of multiple devices or the replacement of agents, the supply side support had increased. At the same time, some production enterprises' online trading situation was fair, indicating a strong intention to support the market. But it was difficult to increase the demand side, and there is significant resistance for BDO prices to continue to rise.
Market outlook
SunSirs NMP analysts believe that the current NMP market has weak buying momentum and is mainly focused on inventory digestion. The raw material support has slightly increased, but the impact on NMP is limited. It is expected that the NMP market will maintain a weak consolidation operation in the short term.
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- 2024-04-15 SunSirs: The NMP Market Had Been Operating Steadily at Low Levels This Week (April 8-12)
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