SunSirs: Nitric Acid Prices Temporarily Stabilized This Week (March 20-24)
March 24 2023 14:29:03 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the average price of nitric acid on March 20th this week was 2,466 RMB/ton, and on March 24th, the average price of nitric acid was 2,466 RMB/ton, indicating a stable price.
Analysis review
Ningxia Runxia Energy Chemical Co., Ltd. has an annual output of 150,000 concentrated acid. On March 24th, 98 concentrated nitric acid was sold normally, and the manufacturer's quotation was 2,600 RMB/ton. The actual order was renegotiated. Mainstream enterprises in East China quoted 2,700-2,900 RMB/ton, while northern and central China quoted 2,400-2,650 RMB/ton. As of the 24th, fluctuations in the main regions were still dominant. There were unit overhauls in Jiangsu, resulting in a decrease in supply. Downstream aniline and other products stabilized, and the market temporarily focused on stabilizing prices.
From March 20 to March 24, upstream liquid ammonia fell 2.43%. Downstream aniline was stable, with TDI prices falling 0.92% and potassium nitrate falling 0.68%. The raw material liquid ammonia continued to decline, and the wait-and-see atmosphere in the nitric acid market ws relatively strong.
Market outlook
It is necessary to pay attention to the negative impact of the weakness of raw materials on the strong sentiment in local markets. The nitric acid analysts of SunSirs predict that the price of nitric acid may mainly be in a narrow volatility trend.
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