SunSirs: The Focus of the NMP Market Had Shifted Downwards This Week (October 16-20)
October 23 2023 10:42:55 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the NMP market continued to decline this week. On October 16th, the average price of NMP was 15,233 RMB/ton, and on October 20th, the average price of NMP was 15,066 RMB/ton, a decrease of 1.09%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, the NMP market had shown a downward trend this week, and the focus of transactions had shifted downwards. As of Friday, the mainstream retail market price of domestic electronic grade NMP was 14,000-15,500 RMB/ton. The price of raw material BDO continued to decline, exacerbating the supply-demand contradiction, and the price was also declining. The follow-up on the NMP demand side was insufficient, with a strong wait-and-see atmosphere and purchasing mainly just in needed. The NMP factory on the production side maintained stability, with a strong attitude towards price support, and the market was stuck in a prolonged stalemate.
Raw materials: The domestic BDO market was weak and declining. From October 16th to 20th, the average price of domestic BDO fell from 10,685 RMB/ton to 10,400 RMB/ton, a 2.63% decline during the cycle, weakening cost support and exacerbating the negative impact on NMP.
Market outlook
SunSirs’ NMP analysts believe that as of the 20th, the downstream follow-up of NMP prices had been slow, and the market's positive signals were relatively weak. It is expected that NMP prices will fluctuate at low levels in the short term.
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