SunSirs: Nitric Acid Prices Fell This Week (June 5-9)
June 13 2023 14:26:21 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on June 5th this week was 2,033 RMB/ton, and on June 9th it was 2,016 RMB/ton, a decrease of 0.82% in price.
Analysis review
On June 5th, mainstream enterprises in East China quoted prices ranging from 2,000 to 2,200 RMB/ton, while those in the North and Central China quoted prices ranging from 1,800 to 2,000 RMB/ton. As of June 9th, the transactions in the concentrated nitric acid market were mainly based on order sales, and industry insiders mainly focused on wait-and-see, with a focus on market transactions.
From June 5 to June 9, the upstream liquid ammonia rose 0.56%, the downstream aniline price was stable, the TDI price rose 4.94%, and the potassium nitrate price was stable. As of the 9th, the transaction volume in the nitric acid market was weak, and downstream demand for nitric acid was weak. The demand in industries such as pesticides and pickling was sluggish, and the price of nitric acid 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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