SunSirs: The NMP Market Weakly Declined in April
May 06 2024 14:09:02 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 April, indicating an overall weakness. At the beginning of April, the average price of electronic grade NMP was 12,133 RMB/ton. On April 29th, the average price was 11,766 RMB/ton, a decrease of 3.02%.
Analysis review
In April, the domestic NMP market continued to decline. As of the 29th, the mainstream retail price for electronic grade NMP in China was 11,500-12,000 RMB/ton. The NMP market continued to be weak in April, with no significant improvement in demand. There were many maintenance companies in the raw material BDO market, and the supply is tight. The suppliers are keeping their prices, while the demand side remains weak. The market further declined in April. The supply in the NMP market was relatively stable, with demand being the main demand side, with most orders placed. Downstream price pressures had led to a decline in NMP prices.
The domestic BDO market remained weak and stagnant in April. From April 1st to 26th, the average domestic BDO price dropped from 9,328 RMB/ton to 9,071 RMB/ton, with a 2.76% decrease in price during the cycle and a 20.01% year-on-year decrease in price.
Market outlook
According to NMP analysts from SunSirs, the downstream follow-up of NMP prices was slow, and the market mentality was poor. Considering that the industry's profits were temporarily in a deficit state, it is expected that NMP prices will maintain a low consolidation operation in the short term.
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- 2024-04-23 SunSirs: The NMP Market Had Been Operating Steadily This Week (April 15-19)
- 2024-04-15 SunSirs: The NMP Market Had Been Operating Steadily at Low Levels This Week (April 8-12)
- 2024-04-08 SunSirs: Under the Pressure of Multiple Bearish Factors, the NMP Market Was Weakening
- 2024-04-02 SunSirs: In March, the Price Center of NMP Shifted Downwards
