Price trend
According to the data monitoring of SunSirs, the domestic NMP market was weak as a whole in February, and the price was slightly lower. The average price of electronic NMP at the beginning of the month was 22,666 RMB/ton, and the average price at the end of the month was 22,500 RMB/ton, with a monthly decline of 0.7%.
Analysis review
In February, the domestic NMP market was mainly stable and slightly changed, and the price lacked power to rise. At the beginning of the month, the raw materials rose significantly, and the downstream stock was finished. Although the upstream intentionally supported price to rise, but the demand support was weak. In order to keep smooth shipment, prices stagnated and maintained stability. Subsequently, the price of raw materials continued to rise, forming a certain support for the NMP market. However, constrained by demand, some NMP enterprises reduced their prices to stimulate the sales. The market transaction was flat, and the NMP market performance in the whole February was not as expected.
The price of raw material BDO rose all the way in February. According to the data monitoring of SunSirs, the average price of domestic BDO at the beginning of the month was 12,928 RMB/ton, and the average price at the end of the month was 14,011 RMB/ton, with an increase of 8.37% within the month. After the price rose to a high level, it entered the consolidation stage, and NMP cost support gradually strengthened
Market outlook
NMP analysts from SunSirs believe that with the recovery of downstream terminal construction in the future, the demand continues to follow up, and supported by high costs, it is expected that the possibility of NMP market recovery will increase in March.
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