January 23, 2024 — On January 23, the price of concentrated nitric acid exhibited a rational correction trend influenced by supply recovery and demand expectations. The mainstream negotiated average price for 98% concentrated nitric acid ranged between 1,300 and 1,450 yuan per ton, representing a decrease of 50 yuan per ton. According to Chempricehub's analysis of nitric acid, the long-short score is -1. The spot price of concentrated nitric acid fell by 50 yuan per ton, with the mainstream negotiated average price in the range of 1,300–1,450 yuan per ton. This decline was primarily driven by supply recovery (increased supply) and weak demand expectations, leading to a rational correction. This factor indicates a loose market supply-demand balance, exerting a generally bearish impact on spot prices.