SunSirs: Nitric Acid Prices Fell This Week (March 6-10)
March 13 2023 11:39:10 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the average price of nitric acid was 2,483 RMB/ton on March 6 and 2,466 RMB/ton on March 10, with a price drop of 0.67%.
Analysis review
Ningxia Runxia Energy Chemical Co., Ltd. has an annual output of 150,000 tons concentrated acid. On March 10, 98 concentrated nitric acid was sold normally. It will take time for the market to recover. Most of the transactions were based on orders. Shaanxi Xinghua Chemical Co., Ltd. has an annual capacity of 100,000 tons of nitric acid, and the market was mainly wait-and-see. The market was in urgent need of good news support.
From March 6 to March 10, upstream liquid ammonia fell by 0.38%. The downstream aniline rose 0.27%, the TDI price fell 3.93%, and the prices of potassium nitrate and ammonium nitrate were stable. The price of potassium nitrate was temporarily stable due to the drop of upstream liquid ammonia and downstream TDI.
Market outlook
As of the 10th, the trading atmosphere in the market was light, and the market was dominated by wait-and-see. The nitric acid analyst of SunSirs predicted that the price of nitric acid might be mainly in a weaker trend in shock.
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