SunSirs: NMP Market Was Consolidated in July
August 01 2023 13:47:37 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic NMP market was consolidated in July, and the focus shifted downward. At the beginning of July, the average price of electronic grade NMP was 17,333 RMB/ton. As of July 31st, the average price was 17,000 RMB/ton, a monthly decrease of 1.92%.
Analysis review
In July, the domestic NMP market showed significant stability and slight fluctuations, lacking substantial positive factors to support the market. Enterprise quotations followed the market, and downstream purchases were mainly on demand. The increase in construction work did not change much, resulting in limited demand growth and limited support for NMP. The NMP of raw materials fluctuated downward, and cost support further weakened.
In July, the domestic BDO market saw a unilateral decline, with a slight rebound at the end of the month. From July 1st to 27th, the average price of domestic BDO decreased from 11,421 RMB/ton to 10,942 RMB/ton, with a 4.19% decrease in price during the cycle.
Market outlook
According to NMP analysts from SunSirs, as of the end of July, the downstream construction of NMP had remained low. Under demand constraints, it is expected that the NMP prices will be consolidated at a low level in the short term.
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