SunSirs: Nitric Acid Prices Fell This Week (October 30-November 3)
November 06 2023 14:16:21 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on October 30th of this week was 2,083 RMB/ton, and on November 3rd it was 2,050 RMB/ton, a price drop of 1.60%.
Analysis review
On November 3rd, the center of the concentrated nitric acid quotation continued to shift downwards, resulting in slow factory shipments and normal operation of the acid plant equipment. The market urgently needed a boost, and there was no increase in downstream transactions.
During the period from October 30th to November 3rd, upstream liquid ammonia prices decreased by 0.84%, downstream aniline prices increased by 2.82%, TDI prices decreased by 3.39%, and potassium nitrate prices increased by 0.93%.
Market outlook
As of November 3rd, the main downstream aniline factories experienced weak acid recovery, 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 be mainly fluctuating to be weaker.
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