SunSirs: Nitric Acid Price Was Stable This Week (January 2-6)
January 09 2023 11:45:42 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the average price of nitric acid on January 2 this week was 2,450 RMB/ton, and the average price of nitric acid on January 6 was 2,516 RMB/ton, with a steady increase of 2.72%.
Analysis review
Ningxia Runxia Energy Chemical has an annual output of 150,000 tons concentrated nitric acid. On January 6, 98 concentrated nitric acid was quoted at 2,550 RMB/ton. Downstream delivery was dominated by orders, and deals were cold. Shaanxi Xinghua Chemical has an annual nitric acid capacity of 100,000 tons, and the concentrated nitric acid was quoted at 2,150 RMB/ton. The delivery of nitric acid was slow, focusing on the downstream market transactions.
During January 2-6, the upstream liquid ammonia fell 1.43%. The downstream aniline fell 7.74%, the TDI price rose 1.42%, the potassium nitrate price was stable, and the ammonium nitrate price rose 0.47%. The rise of downstream TDI price, combined with the rise of ammonium nitrate price, supported the slight rise of nitric acid price.
Market outlook
As the Spring Festival is approaching, manufacturers will make profits-cutting to ship. Nitrate analysts from SunSirs predict that the price of nitric acid may be dominated by shock and weak trend.
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