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SunSirs: Nitric Acid Prices Fell This Week (February 13-17)
February 20 2023 13:28:01SunSirs(John)

Price trend

According to the monitoring of SunSirs, the average price of nitric acid on February 13 this week was 2,516 RMB/ton, and the average price of nitric acid on February 17 was 2,500 RMB/ton, down 0.66%

Analysis review

Ningxia Runxia Energy Chemical Co., Ltd. has an annual output of 150,000 tons concentrated acid. On February 13, the ex-factory price of 98 concentrated nitric acid was 2,550 RMB/ton. The market recovery was slow and the transaction was weak. Shaanxi Xinghua Chemical Co., Ltd. has an annual production capacity of 100,000 tons of nitric acid, and the quotation of concentrated nitric acid was 2,150 RMB/ton. The market was mainly wait-and-see, focusing on the transaction in the downstream market.

From February 13 to February 17, upstream liquid ammonia fell 1.89%. The downstream aniline rose 1.24%, the TDI price fell 0.97%, and the prices of potassium nitrate and ammonium nitrate were stable. The price of potassium nitrate was temporarily stable due to the drop of upstream liquid ammonia and downstream TDI. As of 17th, the market atmosphere was cold, and most of downstream were mainly inquiring.

Market outlook

The nitric acid analyst of SunSirs predicted that the price of nitric acid might mainly fluctuate to be weaker.

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

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