SunSirs: The Price of Nitric acid had dropped this month (March 1-28)
April 01 2024 11:02:21 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 1,890 RMB/ton, and at the end of the month, the average price of nitric acid was 1,760 RMB/ton, with a price drop of 6.88%.
Analysis review
The price of concentrated nitric acid continued to decline in March, with the market mainly focused on inquiries. Some manufacturers offered discounts to ship, but the price lacked favorable support. Downstream demand remained weak, and the focus was on market transactions.
From March 1st to March 28th, the upstream liquid ammonia price increased by 13.33%, the downstream aniline price increased by 6.08%, the potassium nitrate price decreased by 0.98%, the ammonium nitrate price decreased by 4.19%, and the TDI price decreased by 9.5%.
Market outlook
The demand for dyes, pesticide intermediates, and other products in the downstream market haD not significantly increased, and nitric acid analysts from SunSirs predict that nitric acid prices may mainly fluctuate to be weaker.
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