January 13th News
On January 13th, the price of concentrated nitric acid experienced a rational correction due to 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, marking a decline of 50 yuan per ton.
Chempricehub Analysis of Nitric Acid: Bull-Bear Score: -1
The article indicates that on January 13th, the price of concentrated nitric acid fell by 50 yuan per ton, with the mainstream average price ranging from 1,300 to 1,450 yuan per ton. This decline was primarily driven by supply recovery (increased supply) and weak demand expectations. Supply recovery reflects a restoration in production, leading to oversupply in the market. Insufficient demand expectations further suppressed prices, resulting in a rational correction trend. This has a generally bearish impact on spot prices, with a decline of approximately 3.7% to 3.8%, indicating a moderate drop rather than a sharp fluctuation. Therefore, the score is -1.
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