SunSirs: Nitric Acid Prices Were Down under Pressure This Week (November 19-25)

Price trend

According to the monitoring of SunSirs, the average domestic production price of nitric acid was 2,616 RMB/ton on November 25, and the average domestic production price of nitric acid was 2,766 RMB/ton on November 19, down 5.42%.

Analysis review

On November 22, Ningxia Runxia Energy Chemical Co., Ltd., with an annual output of 150,000 concentrated acid and acid, the ex-factory price of concentrated nitric acid was 2,750 RMB/ton, which was the same as last time; Anhui Jinhe Industrial Co., Ltd., the ex-factory price of concentrated nitric acid was 2,450 RMB/ton, the quotation was 300 RMB/ton lower than the previous time. Shaanxi Xinghua Chemical Co., Ltd.with an annual production capacity of 100,000 tons of nitric acid, the ex-factory price of concentrated nitric acid was 2,650 RMB/ton including tax, which was 150 RMB/ton lower than the previous price. Huainan Audley Chemical Products Sales Co., Ltd. quoted 2,380 RMB/ton for concentrated nitric acid, which was 370 RMB/ton lower than last time.

According to the monitoring of SunSirs, the upstream liquid ammonia production price in Shandong fell by 9% during the November 15-November 25 cycle. Downstream aniline, the domestic market price fell 8.59% during the period from November 15 to November 25. Downstream TDI, the market price in East China dropped by 2.54% during the period from November 15 to November 25. In the downstream of potassium nitrate, the production price of Shanxi fell by 0.43% during the period from November 15 to November 25. In the downstream ammonium nitrate, the domestic production price fell 8.94% during the period from November 15 to November 25.

Market outlook

The price of raw materials has fallen, the demand for nitric acid is insufficient, and the pressure on corporate inventories is high. The nitric acid analyst of SunSirs expects the price of nitric acid to continue to fall.

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