On February 2, the nitric acid market was influenced by factors such as supply recovery and weakening demand expectations. In the Shandong region, the mainstream transaction price ranged from 1,550 to 1,650 yuan per ton, marking a decrease of 50 yuan per ton. The overall market exhibited a correction trend. PriceSeek's analysis of nitric acid indicates a bearish score of -1. The article highlights that the nitric acid market was affected by supply recovery (increased supply) and weakening demand expectations, leading to a 50 yuan per ton decline in the mainstream transaction price in the Shandong region to 1,550–1,650 yuan per ton. The overall market showed a correction trend. The combination of increased supply and weak demand has put downward pressure on spot prices, reflecting a deterioration in the short-term supply-demand balance. The score of -1.0 indicates a generally bearish outlook, as the price decline is significant but not driven by major event shocks.
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