SunSirs: Nitric Acid Prices Increased This Week (July 31-August 4)
August 07 2023 09:37:02 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on July 31 this week was 1,933 RMB/ton, and on August 4, the average price of nitric acid was 1,940 RMB/ton, with a price increase of 0.35%.
Analysis review
On July 31st, the price of concentrated nitric acid slightly increased, some quotations was stable and the market selling was general. The focus was on market transactions, and 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 was selling lightly, showing a downward trend.
From July 31 to August 4, the price of upstream liquid ammonia fell by 0.48%, the price of downstream aniline rose by 6.85%, the price of TDI rose by 5.19%, and the price of potassium nitrate fell by 1.81%. As of August 4th, the transaction volume in the nitric acid market was average, with weak demand in industries such as pesticides and pickling.
Market outlook
Nitric acid analysts from SunSirs predict that the price of nitric acid may mainly fluctuate and consolidate.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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