On January 9, 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, representing a decrease of 50 yuan per ton.
PriceSeek's analysis of nitric acid indicates a bearish score of -1. According to the article, on January 9, the mainstream negotiated average price for 98% concentrated nitric acid was between 1,300 and 1,450 yuan per ton, reflecting a decline of 50 yuan per ton, or approximately 3.7%. This was primarily driven by supply recovery (restoration of production capacity on the supply side) and weakened demand expectations, leading to a rational correction in the market. The combination of increased supply and subdued demand expectations exerted moderate downward pressure on spot prices, potentially limiting upward price movement in the short term. This decline reflects an adjustment in market supply-demand dynamics, and attention should be paid to subsequent supply developments and changes in terminal demand.
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