SunSirs: Nitric Acid Price Increased Due to Tight Supply

Price trend

According to the data monitoring of SunSirs, on July 22, the average price of nitric acid in East China was 1,533 RMB/ton. Last week, the average price of nitric acid was 1,450 RMB/ton, an increase of 5.75%.

Analysis review

The price of concentrated nitric acid in some areas increased. Jiangsu Hongze Yinzhu Chemical's price was 1,500 RMB/ton, which was 200 RMB/ton higher than last time; Anhui Jinhe's price was 1,350-1,400 RMB/ton, which was the same as last week; Shandong Helitai Chemical Co., Ltd. quoted 1,750 RMB/ton, which was 50 RMB/ton higher than last time;, the price of concentrated nitric acid in Huainan Audley Chemical Products Sales Co., Ltd. quote 1,350 RMB/ton, which was 20 RMB/ton higher than last time; The company’s ex-factory price of concentrated nitric acid  in Wenshui County Synthetic Chemical Co., Ltd was 1,580 RMB/ton, which was the same as last time; some manufacturers stopped production, the supply of nitric acid products was tight, and the nitric acid market was still available, which supported the increase in nitric acid prices.

According to the monitoring of SunSirs, the upstream liquid ammonia market was stable in most areas at the beginning of the week, and prices in some areas fell slightly. The prices in Shandong, the main producing area, fell slightly, and Hebei remained at the level of last week. In Shandong area, liquid ammonia fell by around 50 RMB/ton on the 20th, and the mainstream market quotation was 2,700-2,800 RMB/ton; Downstream aniline: This week (July 13-17) the price of aniline remained stable compared to last week. On July 17, the price of aniline in Shandong was 4,200-4,280 RMB/ton, and the price of aniline in East China was 4,200-4,300 RMB/ton.

Market outlook

The price of upstream raw material liquid ammonia dropped slightly in some areas. Nitric acid analysts of SunSirs predict that the room for nitric acid growth may be limited.

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