SunSirs: Nitric Acid Prices Were Stable This Week (August 9-12)

Price trend

According to the monitoring of SunSirs, the average price of concentrated nitric acid in China this week was 3,096 RMB/ton, and the quotation was stable.

Analysis review

On August 9th, Anhui Jinhe’s concentrated nitric acid was quoted at 3,200 RMB/ton, which was the same as last time; Wenshui County Synthetic Chemical Co., Ltd. quoted 2,890 RMB/ton for concentrated nitric acid and 1,180 RMB/ton for dilute nitric acid, which was the same as last time; Shandong Helitai’s concentrated nitric acid price was 3,200 RMB/ton, which was the same as last time; Shaanxi Xinghua Chemical concentrated nitric acid ex-factory price was 2,650 RMB/ton, which was the same as last time; Jiangsu Hongze Yinzhu Chemical was affected by the epidemic, so the quotation was temporarily not available. The nitric acid market had mixed transactions, and the manufacturers’ quotations were stable.

The upstream liquid ammonia, according to the monitoring of SunSirs, this week (8.9-8.12) Shandong’s average production price was 4,800 RMB/ton, and the quotation was stable. The average price of downstream aniline in the domestic market this week (8.9-8.12) was 10,466 RMB/ton, and the quotation was temporarily stable. Downstream TDI, the average price in the East China market on August 9 was 14,575 RMB/ton, and the average price in the East China market on August 12 was 14,425 RMB/ton, down 1.03%.

Market outlook

In the early stage, nitric acid was boosted by the raw material liquid ammonia, and supported by better shipments, the increase rate was relatively large. The nitric acid analyst of SunSirs predicts that the nitric acid may consolidate mainly.