SunSirs: Nitric Acid Prices Fell This Week (October 9-13)
October 16 2023 10:56:12 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on October 9th this week was 2,250 RMB/ton, and on October 13th it was 2,216 RMB/ton, a decrease of 1.48% in price.
Analysis review
On October 13th, the quotation for concentrated nitric acid was weak, and the market transactions were average. The operation of acid factories’ equipments was average, and the increase in supply was limited. The market urgently needed positive factors to support the price, and it’s need to pay attention to the market transaction situation.
From October 9th to October 3rd, the upstream liquid ammonia price decreased by 4.71%, the downstream aniline price decreased by 12.39%, the TDI price increased by 1.97%, and the potassium nitrate price decreased by 1.8%.
Market outlook
As of the 13th, main downstream aniline factories were weak in purchasing acid, and industries such as pesticides and pickling had increased resistance to high priced raw materials. Nitric acid analysts of SunSirs predict that nitric acid prices may be mainly volatile and weaker.
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