SunSirs: The NMP Market Continued to Decline This Week (October 30-November 3)
November 06 2023 11:00:05 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the NMP market continued to decline this week. On October 30th, the average price of NMP was 15,000 RMB/ton, and on November 3rd, the average price of NMP was 14,600 RMB/ton, a decrease of 2.67%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, the NMP market continued to decline this week, and as of Friday, the mainstream retail prices in the domestic electronic grade NMP market were 14,000-15,000 RMB/ton. The price of raw material BDO further declined, and the downstream had a strong resistance to high prices, so they were buying on dips. The follow-up on the NMP demand side was insufficient, with a strong wait-and-see atmosphere and mainly just in needed. The NMP factory on the production side remained stable, but due to the prolonged market downturn and weak price support mentality, the market focus had shifted downwards.
Raw materials: The domestic BDO market was weak and slightly declining. From October 30th to November 3rd, the average price of domestic BDO fell from 10,157 RMB/ton to 10,017 RMB/ton, a decrease of 1.38% during the cycle. Cost support further weakened, exacerbating the negative impact on NMP.
Market outlook
SunSirs’ NMP analysts believe that the current downstream follow-up of NMP prices is slow, and construction remains low. It is expected that the NMP market may continue to maintain a sluggish trend in the near future.
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