SunSirs: The Price of Nitric Acid Had Dropped This Month (February 1-29)
March 04 2024 14:31:08 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid at the beginning of this month was 2,000 RMB/ton, and at the end of the month, the average price of nitric acid was 1,900 RMB/ton, with a price drop of 5.00%.
Analysis review
The price of concentrated nitric acid continued to decline, with inquiries being the main focus after the holiday. Industry insiders were mostly wait-and-see, and market transactions were weak. It continued to support prices positively, with a focus on market transactions.
From February 1st to February 29th, the upstream liquid ammonia price decreased by 8.55%, the downstream aniline price increased by 5.4%, the potassium nitrate price decreased by 1.21%, and the TDI price increased by 2.94%.
Market outlook
The market had resumed pricing, and the demand for dyes, pesticide intermediates, and other products had not significantly improved. Nitric acid analysts from SunSirs predict that nitric acid prices may mainly fluctuate to be weaker.
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