Nitric Acid Market Fluctuated Down This Week (Dec 1-7, 2017)

Market Review: The Chinese concentrated nitric acid fluctuated down RMB 50-100/mt. The sales slowed down. The supply in Shandong, Henan, Anhui, Jiangsu and Zhejiang increased and the demand was soft. Up to December 7, the mainstream negotiation prices of 98% nitric acid were around RMB 1,767/mt, down 2.27% from last week and increased 35.40% from the same period of last year. The liquid ammonia prices went down, and the support to the nitric acid became weak. Moreover, the demand for nitric acid from aniline, TDI, dyes was soft.  

Running Status: Units in Hualu Hengsheng, Shandong Haili, Dahua, Hongda Chemical and PetroChina Jilin Petrochemical were shut. The overall operating rate was in the range of 60%-70%.

Forecast: The Nitric Acid market will be flexible. Prices in some regions may decline by RMB 50/mt. The overall trading will continue to be thin. It is predicted that the mainstream dealing prices for 98% nitric acid will be in the range of RMB 1,700-1,800/mt.