February 6th News — On February 6th, the production of concentrated nitric acid remained stable, with ample supply in the market. On the cost side, the price of upstream liquid ammonia has been continuously declining recently. The mainstream negotiated average price for 98% concentrated nitric acid ranged between 1,450 and 1,550 RMB per ton, marking a decrease of 50 RMB per ton. Chempricehub Analysis: Nitric Acid, Bull-Bear Score: -1 The stable production and ample supply of concentrated nitric acid indicate an oversupply in the market. Meanwhile, the decline in upstream liquid ammonia prices has reduced production costs, but demand has not shown signs of improvement. The mainstream negotiated average price for 98% concentrated nitric acid fell to 1,450–1,550 RMB per ton, down by 50 RMB per ton, reflecting downward pressure on spot prices. Score: -1 (generally bearish) due to ample supply driving the short-term downward trend. Liquid Ammonia, Bull-Bear Score: -1 The recent continuous decline in liquid ammonia prices reflects either ample supply or weak demand in the upstream market, indicating a clear downward trend. As a cost component for concentrated nitric acid, the price decline reduces downstream production costs but exerts bearish pressure on the spot price of liquid ammonia itself. Score: -1 (generally bearish) as the downward trend suggests a loose market supply-demand balance.