According to the monitoring of SunSirs, the average price of nitric acid on September 28 was 2,333 RMB/ton, and the average price of nitric acid on September 1 was 2,166 RMB/ton, an increase of 7.69%.
Analysis review
On September 27, Anhui Jinhe Industrial's ex-factory quotation of concentrated nitric acid 98 was 2,500 RMB/ton, which was 300 RMB/ton higher than that at the beginning of the month, and the ex-factory quotation of 68 nitric acid was 1,600 RMB/ton. Ningxia Runxia Energy&Chemical Co., Ltd. has an annual output of 150,000 tons of concentrated acid. On September 26, the ex factory quotation of 98 concentrated nitric acid was 2,350 RMB/ton, unchanged from the beginning of the month. Shaanxi Xinghua Chemical has an annual nitric acid production capacity of 100,000 tons. On September 19, the concentrated nitric acid was quoted at 2,150 RMB/ton, up 100 RMB/ton from the beginning of the month. The delivery of nitric acid was available.
In September, the upstream liquid ammonia rose by 13.1%. Downstream aniline rose 18.84%, TDI rose 11.24%, potassium nitrate fell 5.51%, and ammonium nitrate fell 4.61%.
Market outlook
Supported by the cost of liquid ammonia in September, the downstream aniline and TDI markets were favorable, boosting the price of nitric acid. The stock up for holiday demand increased, and nitric acid analysts from SunSirs predicted that the price of nitric acid might rise.
