SunSirs: The Price of Nitric Acid Had Dropped This Week (January 8-12)
January 16 2024 14:28:32 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid on January 8th this week was 2,166 RMB/ton, and on January 12th it was 2,200 RMB/ton, with a price drop of 0.77%.
Analysis review
The price of concentrated nitric acid had fallen, and domestic acid market transactions had been weak. Adequate supply led to a weak decline in acid prices. Sales were mainly based on orders, and the market lacked positive news support. The focus was on market transactions.
From January 8th to January 12th, upstream liquid ammonia fell by 18.55%. Downstream aniline increased by 1.3%, potassium nitrate prices decreased by 2.74%, and TDI prices increased by 1.81%.
Market outlook
Market transactions fell short of expectations, and customers in demand for dyes, pesticide intermediates, and other products had weak purchasing power. Nitric acid analysts from SunSirs predict that nitric acid prices may mainly fluctuate to be weaker.
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