SunSirs: The NMP Market Was Weak and Downward in August
September 01 2023 14:04:53 SunSirs (John)
SunSirs: The NMP Market Was Weak and Downward in August
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic NMP market showed a significant decline in August, with the focus constantly shifting downwards. At the beginning of August, the average price of electronic grade NMP was 17,000 RMB/ton. As of August 31st, the average price was 15,333 RMB/ton, a monthly decrease of 9.8%.
Analysis review
In August, the domestic NMP market fluctuated significantly, lacking substantial positive factors to support the market. Enterprise quotations followed the market and prices fell unilaterally. Downstream demand was mainly in needed, and there was little change in the increase in construction, resulting in limited demand increment and limited boost to NMP. The prices of raw materials had steadily increased, but the boost to the NMP market was limited.
In August, the domestic BDO market saw a unilateral upward trend. From August 1st to 29th, the average price of domestic BDO increased from 11,042 RMB/ton to 11,628 RMB/ton, with a price increase of 5.30% during the cycle and a year-on-year increase of 14.29%.
Market outlook
SunSirs’ NMP analysts believe that the downstream construction of NMP remained low by August 31st, and under demand constraints, it is expected that in the short term, NMP prices will be adjusted at a low level in the future.
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