SunSirs: Nitric Acid Prices Fell This Week (May 15-19)
May 23 2023 13:59:28 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on May 15th this week was 2,400 RMB/ton, and on May 19th it was 2,233 RMB/ton, a decrease of 6.94% in price.
Analysis review
On May 19th, mainstream enterprises in East China quoted a price of 2,000-2,200 RMB/ton for nitric acid, while those in the North and Central China quoted a price of 1,800-2,000 RMB/ton. As of the 19th, the concentrated nitric acid market was mainly dominated by order sales, with a cold market atmosphere, the market urgently needs positive support. Focus on market transactions.
From May 15th to May 19th, upstream liquid ammonia increased by 0.83%, downstream aniline prices decreased by 4.23%, TDI prices decreased by 7.5%, and potassium nitrate prices decreased by 1.4%. Although the price of raw material liquid ammonia had increased, downstream prices of potassium nitrate, aniline, and TDI all decreased. In addition, downstream demand for nitric acid was weak, and demand in industries such as pesticides and pickling was sluggish, nitric acid prices continued to decline.
Market outlook
Nitric acid analysts from SunSirs predict that the price of nitric acid may mainly fluctuate and weaken.
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