Price trend
According to the monitoring of SunSirs, the average price of nitric acid on September 14 was 2,266 RMB/ton, and the average price of nitric acid on September 9 was 2,200 RMB/ton, an increase of 3.03%.
Analysis review
On September 14th, the ex-factory quotation of concentrated nitric acid 98 of Anhui Jinhe Industry was 2,400 RMB/ton, which was 200 RMB/ton higher than last week, and the ex-factory quotation of 68 nitric acid was 1,600 RMB/ton. The price of concentrated nitric acid increased due to the increase in cost and pre-holiday stocking demand. On September 13, Ningxia Runxia Energy Chemical produced an annual output of 150,000 concentrated acid, and the ex-factory price of 98 concentrated nitric acid was 2,350 RMB/ton. The quotation was unchanged from last week, and the nitric acid trading was general. On September 14, Shaanxi Xinghua Chemical's annual production capacity of nitric acid was 100,000 tons, and the price of concentrated nitric acid was 2,050 RMB/ton, which was the same as last week, and the nitric acid trading was acceptable.
This week (9.1-9.14) upstream liquid ammonia rose 8.36%. Downstream aniline rose 11.59%, TDI rose 8.25%, potassium nitrate fell 1.84%, and ammonium nitrate prices fell 4.61%. Supported by the cost of liquid ammonia, the prices of aniline and TDI in the downstream rose, which was favorable for the price increase of nitric acid.
Market outlook
Boosted by pre-holiday demand for stockpiling, nitric acid analysts of SunSirs expect the price of nitric acid may rise.
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