Price trend

According to data monitoring by SunSirs, the domestic NMP market fell significantly in March, with a sharper decline than expected. The average price of electronic grade NMP at the beginning of the month was 22,500 RMB/ton, while the average price at the end of the month was 18,333 RMB/ton, with a monthly decrease of 18.52%.

Analysis review

In March, the domestic NMP market fell broadly, downstream demand was difficult to increase, enterprise inventory was high, and shipping was under high pressure. It is understood that the lithium battery industry chain has continued to experience a "cold spell" since 2023. Due to multiple factors such as the slowdown in the growth of terminal demand for new energy vehicles, discounts and promotions for fuel vehicles, and the decline in international oil prices, the price of lithium salts and related products has continued to decline, and NMP prices are no exception. There was a strong wait-and-see atmosphere on the market, with NMP prices constantly falling in an atmosphere of buying up and not buying down.

In March, the price of raw material BDO continued to decline. According to data monitoring by SunSirs, from March 1 to 29, the average domestic BDO price fell from 13,816 RMB/ton to 10,820 RMB/ton, with a 21.69% decrease in price during the cycle and a 60.32% year-on-year decrease in price. Downstream demand is not expected to improve, and the future market continues to be bearish, with raw materials dragging down, further depressed NMP prices.

Market outlook

NMP analysts from SunSirs believe that the operating rate of the lithium battery industry may increase in April, and if demand is effectively followed up, NMP prices are expected to stop falling and stabilize.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com