Price trend
According to the Commodity Market Analysis System of SunSirs, the focus of the domestic NMP market continued to shift downwards in January, indicating an weakness overall. At the beginning of January, the average price of electronic grade NMP was 12,800 RMB/ton. On January 30th, the average price was 12,566 RMB/ton, a decrease of 1.83%.
Analysis review
In January, the domestic NMP market continued to decline. As of the 30th, the mainstream retail price for electronic grade NMP in China was 12,300-12,800 RMB/ton. The BDO prices on the raw material side had fluctuated and fallen, with insufficient support on the cost side. The demand side of NMP remained weak. Approaching the Spring Festival, downstream production enthusiasm was not high and prepared 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 fluctuated and declined in January. From January 1st to 30th, the average domestic BDO price dropped from 9,535 RMB/ton to 9,424 RMB/ton, with a 1.17% decrease in price during the cycle.
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 January 30th, 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.
