SunSirs: Nitric Acid Prices Fell This Week (October 16-20)
October 24 2023 09:47:58 SunSirs (John )
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on October 16th this week was 2,200 RMB/ton, and on October 20th it was 2,150 RMB/ton, a price drop of 2.27%.
Analysis review
On October 16th, the center of concentrated nitric acid quotation continued to shift downwards, and the factory's shipment pressure was obvious. The acid factory's equipment was operating normally, and the market supply was stable. There was an urgent need to boost prices and demand was not good.
From October 16th to January 20th, the upstream liquid ammonia price increased by 6.54%, the downstream aniline price increased by 2.22%, the TDI price decreased by 0.53%, and the potassium nitrate price decreased by 0.46%.
Market outlook
As of October 20th, the main downstream aniline factories had weak acid production, and the demand for pesticides, pickling, and other industries was not good. Nitric acid analysts from SunSirs predict that the price of nitric acid may mainly fluctuate to be weaker.
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