SunSirs: Nitric Acid Prices Remained Stable This Week (July 3-7)

https://www.chemnet.com   Jul 10,2023 SunSirs

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on June 26th this week was 1,950 RMB/ton, and on June 30th it was 1,933 RMB/ton, a decrease of 0.85% in price.

Analysis review

On July 7th, mainstream enterprises in East China quoted concentrated nitric acid at 2,000-2,200 RMB/ton, while those in the North and Central China quoted concentrated nitric acid at 1,800-2,000 RMB/ton. The price of concentrated nitric acid was weak, and some manufacturers stopped quoting. The market transactions were mainly through orders, with a focus on market transactions.

From July to July 7, the price of upstream liquid ammonia rose by 6.75%, the price of downstream aniline fell by 3.12%, the price of TDI rose by 2.65%, and the price of Ammonium nitrate fell by 12.32%. As of July 7th, the nitric acid market was mainly dominated by inquiries, with weak transactions. The demand in industries such as pesticides and pickling was sluggish.

Market outlook

Nitric acid analysts from SunSirs predict that the price of nitric acid may mainly fluctuate and weaken.

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