SunSirs: The Decline in the NMP Market Slowed Down in December
December 29 2023 15:15:10 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 December, with a decrease in decline. At the beginning of December, the average price of electronic grade NMP was 13,000 RMB/ton. On December 28th, the average price was 12,800 RMB/ton, a decrease of 1.54%.
Analysis review
In December, the domestic NMP market continued to decline, and as of the 28th, the mainstream retail price for electronic grade NMP in China was 12,300-13,000 RMB/ton. The price of raw material BDO was weak and the cost support was average. The demand side of NMP remained weak, approaching the Spring Festival, and downstream production enthusiasm was not high and were preparing to take an early holiday. The NMP factory on the production side remained stable, with a weak mentality. The quotation followed the market trend, and the price bottomed out, reducing the room for downward adjustment.
The domestic BDO market continued to be weak in December. From December 1st to 26th, the average domestic BDO price dropped from 9,628 RMB/ton to 9,535 RMB/ton, with a price drop of 0.96% during the cycle and a maximum amplitude of 1.11%.
Market outlook
According to NMP analysts from SunSirs, the downstream follow-up of NMP prices was slow, and the market's positive signals were weak. As of December 28th, NMP was close to the bottom, and there was limited room for further decline. It is expected that NMP prices will consolidate and operate at a low level in the short term.
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