Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of nitric acid on May 1st this week was 2,450 RMB/ton, and on May 5th it was 2,433 RMB/ton, a decrease of 0.68% in price.

Analysis review

On May 5th, mainstream enterprises in East China quoted concentrated nitric acid at 2,400-2,600 RMB/ton, while those in the North and Central China quoted at 2,200-2,400 RMB/ton. As of the 5th, the pressure on the supply side of the concentrated nitric acid market had not decreased, demand continued to be weak, and costs had declined. The focus is on market transactions.

From May 1st to May 5th, upstream liquid ammonia increased by 1.55%. Downstream aniline prices remained stable, with TDI prices rising by 1.03% and potassium nitrate falling by 0.91%. The price of raw material liquid ammonia had increased, while the downstream price of potassium nitrate had decreased. The downstream demand for nitric acid was still acceptable, but the demand in industries such as pesticides and pickling was sluggish, making it difficult to form a supportive effect on prices.

Market outlook

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

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