February 12th News On February 12th, the production of concentrated nitric acid remained stable, leading to ample market supply. Meanwhile, upstream liquid ammonia prices continued to decline recently. The mainstream negotiated average price for 98% concentrated nitric acid ranged between 1,450 and 1,550 yuan per ton, marking a decrease of 50 yuan per ton. Chempricehub Analysis: Nitric Acid Bull-Bear Score: -1.5 The article highlights that stable production of concentrated nitric acid has resulted in abundant market supply, causing the mainstream negotiated average price for 98% concentrated nitric acid to drop by 50 yuan per ton to the range of 1,450–1,550 yuan per ton. Concurrently, the ongoing decline in upstream liquid ammonia prices has weakened cost support, further pressuring spot prices. With increased supply and reduced costs, short-term prices are expected to remain under pressure, with bearish factors being significant. Liquid Ammonia Bull-Bear Score: -1 As an upstream raw material for nitric acid, the recent continuous decline in liquid ammonia prices reflects oversupply or weak demand, exerting downward pressure on spot prices. Weakness in the cost side may transmit downstream, intensifying market bearish sentiment, generally exerting a bearish impact on the spot market.