Ammonium Nitrite Price Trend and Forecast

Ammonium Nitrite Regional Price Overview

Get the latest insights on price movement and trend analysis of Ammonium Nitrite in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Ammonium Nitrite Price Trend for the First Half of 2024

Asia

In the first half of 2024, the ammonium nitrite market experienced fluctuations influenced by the price movements of its key feedstocks, ammonia and hydrogen peroxide. Since the oxidation of ammonia leads to the formation of ammonium nitrite, these feedstocks play a crucial role in determining its market behavior. In Asia, the market began the year with oscillations, driven by subdued demand in the agricultural sector and stable but cautious procurement activities.
 

Ammonium Nitrite Price Chart

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The ammonia market, initially facing a downward trend due to high inventory levels and low demand, saw a slight rebound with the onset of the sowing season, providing moderate support to ammonium nitrite prices. Similarly, hydrogen peroxide markets in Asia faced an initial period of stability but later saw a rebound in prices, which impacted the cost structure of ammonium nitrite. Overall, mixed market sentiments were witnessed.

Europe

In Europe, the ammonium nitrite market was affected by a declining ammonia trend, driven by weak demand and disrupted supply routes due to various geopolitical tensions. This was compounded by the overcapacity and rising costs in the hydrogen peroxide market, which further dampened the overall market dynamics of ammonium nitrite. The market remained under pressure, with only slight buoyancy observed during the spring application season. The grappling supply chain conditions amidst the Red Sea crisis and the Russian war severely affected the regional trade dynamics for European markets.

North America

North America's ammonium nitrite market saw both upward and downward movements, influenced by varying demand levels in the fertilizer and industrial sectors. Early in the year, stable demand and healthy production rates in ammonia and hydrogen peroxide provided some support. However, the market softened towards the latter part of the first half, reflecting reduced export volumes and cautious procurement from downstream industries. Overall, H1'24 for ammonium nitrite was characterized by a complex interplay of fluctuating market dynamics in its feedstocks and downstream consumer demands.

Analyst Insight

According to Procurement Resource, the Ammonium Nitrite prices are likely to remain varying in the coming months. Along with the feedstock markets, the downstream demands will also play an influential role in determining its market sentiments.
 

Ammonium Nitrite Price Trend for the Second Half of 2023

Asia

In the second half of 2023, the ammonium nitrite market demonstrated varying trends across different regions, influenced by the fluctuations in its primary feedstocks: ammonia and oxidizing agents like hydrogen peroxide. In Asia, the ammonium nitrite market experienced buoyant trends in the third quarter, supported by increased demand in both domestic and international markets. However, production disruptions and supply chain challenges, particularly in China, led to a constrained supply, pushing the market upwards. As the fourth quarter approached, the market saw some fluctuations due to inconsistent production levels, but as international demands took a severe hit in the wake of heating geopolitical conflicts and regional wars, the overall pricing outlook became consolidated.

Europe

In Europe, the ammonium nitrite market faced a more complex scenario. The third quarter began with a slightly positive outlook due to a slight improvement in demand after a long time and steady regional production. However, by the fourth quarter, adverse weather conditions and disruptions in key supply routes, coupled with a decline in the fertilizer sector, exerted downward pressure on the market. The inconsistent performance in downstream industries further contributed to the market's fluctuations, causing a mix of buoyancy and downward trends as the year closed.

North America

In North America, the ammonium nitrite market mirrored some of the global fluctuations seen in Asia and Europe. The third quarter was marked by a stable demand, but the market softened in the fourth quarter as supply chain disruptions, particularly those affecting export routes, led to increased inventory levels. The initial optimism in the market waned, with demand from key sectors peaking and then tapering off, leading to a more subdued market by the end of the year. Overall, the ammonium nitrite market in H2'23 was characterized by regional variability, with supply-demand imbalances playing a critical role in shaping the price trends across different markets.

Analyst Insight

According to Procurement Resource, the Ammonium Nitrite markets are likely to continue showcasing variations going forward since the current supply and demand equation suggests inconsistencies in the projected trend.
 

Ammonium Nitrite Price Trend for the First Half of 2023

Asia

In the first quarter, the consistent rise in energy costs and, in turn, in the cost of production led to the northward movement of the prices of ammonium nitrite. However, in Q2, the trend declined as the driving factors of the market suffered from a reduction in demand. This escalated the gap between demand and supply, which lowered the overall market sentiments of ammonium nitrite.

The prices of ammonia fluctuated in the first quarter of 2023, but the nitric acid market supported the rise in the prices of ammonium nitrite. Further, the consistent ups and downs in the fertilizers sector affected the demand for ammonium nitrite and thus proved to be a challenge for the ammonium nitrite price trend. These challenges increased in the second quarter as, due to the ill effects of extreme weather, the agricultural sector suffered a setback that, in turn, hampered the growth of ammonium nitrite prices.

North America

The demand scenario of ammonium nitrite remained in the red zone, and with that, the operational costs also inclined on account of hikes in energy costs in the first quarter, which negatively affected the overall market sentiments. Along with this, the cost of feedstocks and rates of exports to Canada and Mexico fell due to the disruptions in the trade routes. In addition to this, the excess availability of the product in the region eventually forced the trend to take a downward trend.

Analyst Insight

According to Procurement Resource, the price trend of Ammonium nitrite is expected to oscillate in the upcoming quarters as the agriculture sector is experiencing a slowdown.

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