SunSirs: Nitric Acid Market Supply Is Tight and Prices Are Rising
November 20 2020 11:46:33 SunSirs (John)
Price trend
According to the monitoring of SunSirs, on November 18, the average price of nitric acid in East China was 1,800 RMB/ton, and the average price of last week was 1,616 RMB/ton, an increase of 11.34%.
Analysis review
The price of Anhui Jinhe concentrated nitric acid is about 2,100-2,200 RMB/ton, which is 450-550 RMB/ton higher than last week; Shandong Helitai Chemical Co., Ltd.'s quotation of concentrated nitric acid is 1,900 RMB/ton, which is 100 RMB/ton higher than last week; Huainan Audley Chemical Products Sales Co., Ltd. quotes1,900 RMB/ton for concentrated nitric acid, which is 250 RMB/ton higher than last week; Wenshui County Synthetic Chemical Co., Ltd. quotes 1,530 RMB/ton for concentrated nitric acid and 680 RMB/ton for dilute nitric acid. The quotation of concentrated nitric acid is unchanged from last week; Shaanxi Xinghua Chemical’s quotation of concentrated nitric acid is 1,700 RMB/ton, and the quotation is up 100 RMB/ton from last week; the sales of nitric acid market are relatively good. The production of nitric acid in some areas has stopped, and the supply of nitric acid products in the market is tight.
According to the monitoring of SunSirs, the upstream product liquid ammonia, at the beginning of this week, the average price of liquid ammonia in Shandong was 2,960 RMB/ton, and the average price on November 18 was 2,983 RMB/ton, an increase of 0.79%; the downstream aniline, the average market price at the beginning of this week was 6,633 RMB/ton, the average price on November 18 was 6,800 RMB/ton, an increase of 2.51 RMB/ton.
Market outlook
The supply of nitric acid is tight, and the nitric acid analyst of SunSirs predicts that the price may rise mainly.
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