Price trend

According to the Commodity Market Analysis System of SunSirs, the average price of nitric acid on May 20th this week was 1,906 RMB/ton, and on May 24th it was 1,856 RMB/ton, with a price increase of 2.62%.

Analysis review

The quotation for concentrated nitric acid was stable, with some quotations being weak. As of May 24th, the nitric acid market was mainly dominated by inquiries, and transaction enthusiasm had slowed down. Industry insiders were optimistic about the future market, with a focus on market transactions.

From May 20th to May 24th, the upstream liquid ammonia price decreased by 8.63%, the downstream aniline price increased by 3.48%, and the potassium nitrate price increased by 2.51%, TDI prices increased by 0.67%.

Market outlook

Upstream raw material costs had fallen, while demand of downstream dyes, pesticide intermediates, and other products was improving. Nitric acid analysts at SunSirs predict that nitric acid prices may mainly fluctuate.

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