SunSirs: Nitric Acid Prices Fell This Week (April 17-21)

https://www.chemnet.com   Apr 24,2023 SunSirs

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on April 17th this week was 2,550 RMB/ton, and on April 13th it was 2,533 RMB/ton, a decrease of 0.65% in price.

Analysis review

As of the 21st, the pressure on the supply side of the concentrated nitric acid market had not decreased, demand continued to be weak, and costs had declined. Focusing on market transactions, the market urgently needed positive news to support prices. The demand of downstream aniline was acceptable, but the low demand in industries such as pesticides and pickling made it difficult to form a supportive effect on prices.

From April 17th to April 21st, upstream liquid ammonia decreased by 8.04%, downstream aniline prices increased by 3.57%, TDI prices increased by 1.04%, and potassium nitrate decreased by 0.45%.

Market outlook

The raw material liquid ammonia continued to decline, while downstream potassium nitrate prices declined. The transaction atmosphere in the nitric acid market was light. Nitric acid analysts from SunSirs predict that the price of nitric acid may mainly fluctuate and weaken.

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