January 29th News On January 29th, the production of concentrated nitric acid remained stable, with ample market supply. On the cost side, the price of upstream liquid ammonia has continued to decline recently. The mainstream negotiated average price for 98% concentrated nitric acid is in the range of 1,450–1,550 yuan per ton, representing a decrease of 50 yuan per ton. Chempricehub Analysis of Nitric Acid, Bull-Bear Score: -1.5 The article notes that the stable production of concentrated nitric acid and ample market supply have led to oversupply, exerting downward pressure on prices. On the cost side, the continuous decline in upstream liquid ammonia prices has reduced production costs, further weakening price support. The mainstream negotiated average price for 98% concentrated nitric acid has fallen by 50 yuan per ton to the range of 1,450–1,550 yuan per ton, confirming the downward trend in prices. These factors collectively exert a significant bearish impact on the spot price of nitric acid. A score of -1.5 indicates a level between moderate and significant bearishness, reflecting the substantial negative pressure brought about by increased supply and reduced costs.