SunSirs: The NMP Market Was at Low Levels and Declined in October
October 31 2023 14:15:35 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the focus of the domestic NMP market continued to shift downwards in October. At the beginning of October, the average price of electronic grade NMP was 15,333 RMB/ton. On October 30th, the average price was 15,000 RMB/ton, a decrease of 2.17%.
Analysis review
In October, the domestic NMP market had not experience a substantial improvement. On the contrary, the focus of transactions shifted downwards. As of the 30th, the mainstream price of domestic bulk electronic grade NMP was 14,500-15,500 RMB/ton. The price of raw material BDO had unilaterally declined, and cost support weakened. The demand side of NMP remained weak, with a strong wait-and-see atmosphere. The follow-up on the demand side was insufficient, with a strong wait-and-see atmosphere, and mainly just in needed. The NMP factory on the production side had maintained stability, with a strong attitude towards price support, and the market had been in a prolonged downturn.
In October, the domestic BDO market fell unilaterally. As of October 27th, the average price of domestic BDO had dropped from 11,071 RMB/ton to 10,171 RMB/ton, with a price drop of 8.13% during the cycle. The peak season of Golden September and Silver October had passed, and the future is not optimistic.
Market outlook
SunSirs’ NMP analysts believe that as of October 30th, the downstream follow-up of NMP prices had been slow, and the market's positive signals were weak. It is expected that NMP prices will fluctuate at low levels in the short term.
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