March 11th — On March 11th, the production of concentrated nitric acid remained stable, while the cost-side upstream liquid ammonia prices continued to decline recently. The mainstream negotiated average price for 98% concentrated nitric acid ranged between 1,250 and 1,350 yuan per ton, marking a decrease of 50 yuan per ton. Chempricehub's analysis of nitric acid assigns a bearish score of -1. The article points out that the stable release of concentrated nitric acid production has increased supply, while the ongoing decline in upstream liquid ammonia prices has led to a 50 yuan per ton drop in the mainstream negotiated average price for 98% concentrated nitric acid, now within the range of 1,250–1,350 yuan per ton. The combination of increased supply and reduced costs exerts moderate downward pressure on spot prices, with expectations that spot prices may continue to face pressure in the short term. For liquid ammonia, the bearish score is also -1. The article notes that upstream liquid ammonia prices have continued to decline recently, indicating potential oversupply or weak demand in the liquid ammonia market, leading to a downward price trend. This decline, as a cost factor, indirectly affects downstream products, while exerting moderate bearish pressure on the spot price of liquid ammonia itself, potentially intensifying market pessimism.