SunSir: Nitric Acid Prices Decreased This Month (July 1-28)
July 31 2023 09:29:39 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid on July 1st this month was 1,950 RMB/ton, and on July 28th it was 1,933 RMB/ton, a decrease of 0.85% in price.
Analysis review
The price of concentrated nitric acid fluctuated weakly in July, with some quotations stable. The market shipment was general, and the focus was on market transactions. The market urgently needed good news to boost. In terms of supply, the inventory of acid companies was high, and although some acid companies were undergoing maintenance, it was still difficult to alleviate the oversupply situation. The weather was hot and the market shipment was light, and the market showed a downward trend.
From July 1st to July 28th, upstream liquid ammonia increased by 17.28%. The downstream aniline fell by 3.79%, the price of potassium nitrate rose by 1.84%, and the price of ammonium nitrate fell by 12.32%. The overall demand in the downstream market was weak, and prices might continue to fluctuate at low levels. The market was mainly wait-and-see.
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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