SunSirs: Nitric Acid Fell Down Under Pressure This Week (November 11-15)
November 19 2019 15:52:12 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the average price of nitric acid in East China at the beginning of this week was 1683 RMB/ton, while the average price of nitric acid in East China at the weekend was 1650 RMB/ton, down 1.98%.
Analysis review
Product: The price of concentrated nitric acid continued to fall, with the quotation of Jiangsu Hongze Yinzhu Chemical Co., Ltd. of 1600 RMB/ton, which was stable; Anhui Jinhe Chemical Co., Ltd. of 1550 RMB/ton, which was 100 RMB/ton lower than last week; Shandong helitai nitric acid Co., Ltd. of 1800 RMB/ton, which was stable. Anhui Audley offered 1580 RMB/ton, 20 RMB/ton lower than last week's offer; Wenshui County synthetic chemical offered 1980 RMB/ton, basically stable. Nitric acid market demand is light, manufacturers’ offer are weak.
Industrial chain: The price of liquid ammonia, the raw material of the upstream of nitric acid, is mainly down this week, according to the the data monitoring of SunSirs. For the downstream aniline, the market price of aniline in Shandong on Friday was 7150 RMB/ton, down 10.1% compared with last week; the market price of aniline in Nanjing was 7530 RMB/ton, down 10.4% compared with last week; the domestic TDI market was weak, and the overall atmosphere in the market was still weak, and the volume of transactions was insufficient.
Market outlook
To sum up, the nitric acid analyst of SunSirs thinks that the nitric acid market may be dominated by weak operation.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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