SunSirs: Nitric Acid Prices Decreased This Month (April 1-27)
April 28 2023 09:43:17 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid on April 1st of this month was 2,566 RMB/ton, and on April 29th it was 2,466 RMB/ton, a decrease of 3.90% in price.
Analysis review
Ningxia Runxia Energy Chemical has an annual production of 150,000 concentrated acid. On April 27th, the factory quotation for 98 concentrated nitric acid was 2,400 RMB/ton, and mainstream enterprises in East China quoted 2,400-2,600 RMB/ton, and northern and central China quoted 2,400-2,500 RMB/ton. The market had ample supply of goods, and high price trading was under pressure. As of the 27th, the pressure on the supply side of the concentrated nitric acid market remained unchanged, demand remained weak, and costs declined.
From April 1st to April 27th, upstream liquid ammonia fell by 23.33%. Downstream aniline decreased by 10.46%, potassium nitrate prices decreased by 3.93%, and ammonium nitrate prices decreased by 0.91%.In April, the overall demand remained stable, and downstream demand for aniline was still acceptable. However, the demand in industries such as pesticides and pickling was sluggish, making it difficult to form a supportive effect on prices.
Market outlook
Nitric acid analysts from SunSirs predict that the price of nitric acid may be mainly volatile and weaker.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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