SunSirs: The Price of Nitric Acid Had Increased This Month (November 1-30)
December 01 2023 14:47:40 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid on November 1st this month was 2,083 RMB/ton, and on November 30th it was 2,233 RMB/ton, with a price increase of 7.20%.
Analysis review
The price of concentrated nitric acid rose in November, and the domestic acid market showed strong performance. On exchange transactions accelerated, and tight supply led to an increase in acid prices. Sales were mainly based on orders, with a focus on market transactions.
From November 1st to November 30th, upstream liquid ammonia increased by 0.42%. Downstream aniline increased by 3%, potassium nitrate prices increased by 1.86%, and TDI prices decreased by 3.47%. The overall market demand had rebounded, with stable purchasing power from customers in demand for dyes, pesticide intermediates, and other products, and active downstream trading.
Market outlook
The nitric acid analyst from SunSirs predicts that the price of nitric acid may mainly fluctuate towards a stronger trend.
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