SunSirs: Support from Raw Materials Weakened, Nitric Acid May Decline in a Narrow Range

　　Price trend

　　According to the monitoring of SunSirs, the average price of concentrated nitric acid in China this week was 3,130 RMB/ton, and the quotation is stable.

　　Analysis review

　　On August 23, the price of Anhui Jinhe’s concentrated nitric acid was 3,250-3,300 RMB/ton, which was 100-150 RMB/ton lower than last time; Wenshui County Synthetic Chemical Co., Ltd. quoted 2,890 RMB/ton for concentrated nitric acid and 930 RMB/ton for dilute nitric acid, which was the same as last time; the price of Shandong Helitai’s concentrated nitric acid was 3,200 RMB/ton, which was the same as last time; the ex-factory price of Shaanxi Xinghua Chemical’s concentrated nitric acid was 2,650 RMB/ton, which was the same as last time, and there was no inventory; Henan Yongchang Nitro Fertilizer Co., Ltd. quoted 2,800 RMB/ton for concentrated nitric acid, and there was no inventory. The nitric acid market is acceptable, and the manufacturers’ quotations are generally stable.

　　Upstream liquid ammonia, according to the monitoring of SunSirs, the average production price in Shandong on August 1 was 4,883 RMB/ton, and the average price on August 26 was 4,300 RMB/ton, down 11.95%. Downstream aniline, the average domestic market price on August 1 was 10,533 RMB/ton, and the average price on August 26 was 11,000 RMB/ton, an increase of 4.43%. Downstream TDI, the average price in the East China market on August 1 was 15,166 RMB/ton, and the average price in the East China market on August 26 was 14,750 RMB/ton, down 2.75%.

　　Market outlook

　　The support of the raw material liquid ammonia has weakened, and the nitric acid analyst of SunSirs predicts that nitric acid may be adjusted mainly to decline in a narrow range.