SunSirs: The Price of Nitric Acid had Increased This Month (December 1-29)
January 02 2024 11:23:42 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the average price of nitric acid on December 1st was 2,250 RMB/ton, and on December 29th it was 2,200 RMB/ton, a price drop of 2.22%.
Analysis review
The price of concentrated nitric acid fell in December, and the domestic acid market showed weak performance. On exchange transactions were slow, and sufficient supply led to a weak decline in acid prices. Sales were mainly focused on orders, with a focus on market transactions.
From December 1st to December 29th, upstream liquid ammonia fell by 1.47%. Downstream aniline decreased by 9.27%, potassium nitrate prices decreased by 0.91%, and TDI prices increased by 1.2%. The overall market demand is weak, with weak purchasing power from customers for dyes, pesticide intermediates, and other products, and less active downstream trading.
Market outlook
The nitric acid analyst of SunSirs predicts that the price of nitric acid may mainly fluctuate to be weaker.
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