SunSirs: The Price of Nitric Acid Had Dropped This Week (January 22-26)
January 29 2024 10:20:06 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid on January 22 this week was 2,050 RMB/ton, and on January 26 it was 2,033 RMB/ton, a decrease of 0.81% in price.
Analysis review
The price of concentrated nitric acid had fallen, and the domestic acid market was weak and declining. Adequate supply had led to weak price increases. Some manufacturers had stopped quoting before the holiday, and market transactions are weak. Key attention should be paid to market transactions.
From January 22 to January 26, the upstream liquid ammonia price remained stable, the downstream aniline price remained stable, the potassium nitrate price decreased by 0.95%, and the TDI price increased by 0.6%.
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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