SunSirs: The NMP Market Shifted from Up to Down in May
June 02 2023 11:17:46 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic NMP market rose first and then fell in May, with an overall decline. At the beginning of the month, the average price of electronic grade NMP was 18,166 RMB/ton. As of May 31st, the average price was 18,000 RMB/ton, a monthly decrease of 0.92%.
Analysis review
The NMP market rose first and then fell in May. In the first half of May, due to the high cost and price of raw materials, the NMP market was boosted by positive factors, factories actively pushed up prices, and the market trading atmosphere had improved. Coupled with a buying up mentality, NMP prices had actively increased. As of May 10th, the average domestic NMP price had risen to 18,733 RMB/ton. Compared to the beginning of the month, it was increased by 3.12%. Subsequently, in late May, raw material prices began to continue to decline, NMP cost support weakened, market speculation atmosphere subsided, the market returned to rationality, and the oversupply relationship became prominent. In order to stimulate sales, factories gradually lowered prices.
In May, raw material BDO prices dominated the NMP trend. According to the Commodity Market Analysis System of SunSirs, from May 1st to 30th, the average domestic BDO price dropped from 11,670 RMB/ton to 11,442 RMB/ton, with a price drop of 1.95% during the cycle and a maximum amplitude of 8.98%.
Market outlook
According to NMP analysts from SunSirs, the downstream construction of NMP was low, and under demand constraints, it is expected that NMP prices will fluctuate at low levels 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)
- 2024-04-08 SunSirs: Under the Pressure of Multiple Bearish Factors, the NMP Market Was Weakening
