Analyst Pin-board NTP – Making most out of the situation
NTP has seen contrasting impacts from COVID-19. On the one hand, weak construction demand will cause it to miss out on its 2020’s volume target very likely. It was reported that NTP estimated its 2020 sale volume to hover between 90,000 to 100,000 tons, less than their 104,000-ton target. Its 2020 revenue is going to be 10% lower YoY. On the other hand, PVC reached its historical bottom at USD 740 per ton mid-year (figure 1), 21% lower than the early-2020 level, which gave NTP opportunities to reduce production costs. Indeed, the company has benefited from purchasing a considerable amount of PVC resin, whose price has increased more than 50% since then.
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