SunSirs: The NMP Market Steadily Declined in June
June 30 2023 11:00:30 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic NMP market steadily declined in June. At the beginning of the month, the average price of electronic grade NMP was 18,000 RMB/ton. On June 29th, the average price was 17,333 RMB/ton, a monthly decrease of 3.7%.
Analysis review
The NMP market steadily declined in June, and the overall performance was average. Starting from the beginning of the month, downstream demand had rebounded relatively slowly, and the overall market performance was average. The slight rebound in upstream raw materials had limited impact on the NMP market. NMP manufacturers were following the market trend, but due to the low price, the market was stagnant. Throughout the month, the guidance of positive news was unclear, leading to a weak mentality among businesses. Under the leadership of buyers, the NMP market was prone to decline but difficult to rise.
In June, the price of raw material BDO changed from a decline to an increase. According to the Commodity Market Analysis System of SunSirs, the domestic BDO market in June first fell and then rose, with a consolidation of fluctuations. From June 1st to 26th, the average price of domestic BDO increased from 11,300 RMB/ton to 11,422 RMB/ton, with a price increase of 1.09% during the cycle.
Market outlook
According to NMP analysts from SunSirs, the downstream construction of NMP is relatively low, and under demand constraints, it is expected that in the short term, NMP prices will be adjusted and operated at a low level in the future.
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