Hydrogen Cyanide Price Trend and Forecast

Regional Price Overview

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

Hydrogen Cyanide Price Trend for the Second Half of 2023

Asia

During the initial months of the third quarter, the traders were optimistic regarding the trajectory of hydrogen cyanide prices as the rising cost of feedstock ammonia and methane hinted towards rising cost of production. Therefore, along with the rising rates of procurement from the downstream industries and gradually increasing cost of manufacturing, the prices of hydrogen cyanide inclined. However, these market sentiments prevailed only till the middle of the next quarter.

Hydrogen Cyanide Price Chart

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The bullish run of the hydrogen cyanide prices was supported by the rising demand from the overseas and domestic industries but soon the export rates lagged and the gap between supply and demand due to excessive nature of former and muted activities in the later, eventually forced the prices to move southwards.

Europe

The escalation of hydrogen cyanide prices was based on the increased interest of consumers in both domestic and international sectors during the third quarter of 2023. The market's growth rate was also fueled by the rise in the cost of natural gas and the European economy's depreciation in terms of the US Dollar.

Also, a temporary halt of production by some industry giants depleted inventories at a much faster pace during the fourth quarter of 2023. However, in the later months of the quarter, the market conditions were damped by the rising uncertainties in the trading activities and diversion of the traditional trade routes in view of the disruption of the Red Sea route.

North America

Initially, in the third quarter, the prices of hydrogen cyanide inclined by only a slight margin but soon the consumers started stocking up the feedstock materials which in turn increased the cost of production. The shortage of supplies was further driven by the firm demand from both domestic as well as overseas industries and low rates of exports from the Asian countries. Unlike Asian and European countries, the hydrogen cyanide market was able to maintain its momentum in the fourth quarter too and the prices had a positive run-on account of favorable consumer sentiments. 

Analyst Insight

According to Procurement Resource, the price trends of Hydrogen cyanide is expected to be fueled by the rising cost of feedstock materials and rising rates of procurement from the downstream industries.

Hydrogen Cyanide Price Trend for the First Half of 2023

Asia

In the early months of 2023, traders noticed a slight decline in the market's overall dynamics as the cost of production fell consistently with feedstock prices. Consequently, the price of hydrogen cyanide also declined due to dipping consumer interest and falling procurement rates from downstream sectors.

This pessimistic tendency of the market lasted throughout the next quarter, too. Additionally, the export rates soon dropped in view of limited overseas demand and frail trading activities, which resulted in an oversupply situation that was made worse by muted domestic activity. As a result, the price trend of hydrogen cyanide overall bore a bearish trend.

Europe

Given the ongoing decline in natural gas costs, hydrogen cyanide price trends in Europe registered a continuous declining string. The price trend of hydrogen cyanide further bore the ill consequences of the weak demand for nitrogen-based fertilizers due to their abundant supply. Furthermore, poor market sentiments across the European countries were also supported by the loss of export volumes, the sanction of Russian trade, and the inclining cost of energy production.

North America

Comparing the North American region to its European and Asian counterparts, the trajectory followed by hydrogen cyanide prices was more or less similar. During the first and second quarters of 2023, hydrogen cyanide prices decreased due to a sharp reduction in demand from both domestic and foreign consumers. The increase in imports and the opening of ports, which upset the region's supply-demand dynamics, also had a negative impact on pricing patterns. Further, the pricing fundamentals were also impacted by the fertilizer industry's demand.

Analyst Insight

According to Procurement Resource, the price trend of Hydrogen Cyanide is expected to showcase an oscillating trajectory as the onset of sowing season might support the upward trend, but persistent trade challenges can hinder the growth trajectory.

Hydrogen Cyanide Price Trend for the Second Half of 2022

Asia

Hydrogen Cyanide HCN is extensively used as a fumigating agent and in mining (gold and silver). It’s a very poisonous fluid in both liquid and gaseous form. China has constantly been expanding its HCN production capabilities. HCN price trend mimic the price trend for feedstock methane and ammonia. The Asian HCN market observed mixed price sentiments in the second half of the year 2022.

At the start of the third-quarter prices surged a little as the natural gas prices were high and freight curtailments hurdled the supplies. But, as the Covid restriction got eased around August and the cheap Russian gas reached India and China, upstream costs declined. Even after reduced upstream costs, the bearish demands throughout the final quarter didn’t let the prices go up.

Europe

Europe received the most hiked energy bills in the year 2022. Natural gas prices remained high and soared up till later Q3 as Europe had completely stopped energy imports from Russia by August 2022, owing to Russia’s attack on Ukraine. Feedstock ammonia prices too remained high in the third quarter, hiking the HCN prices as a result. It was later around q4 that the prices stabilized and started declining because of the reduced demands from the downstream industrial sectors.

North America

America has the biggest share in the HCN market at around 35% of the total. So the prices here influence the prices the world over. The USA is the biggest producer of natural gas, and the production was even higher in the second half of the year 2022, upstream costs for Hydrogen Cyanide remained low and declined further as the feedstock ammonia was also available at cheaper rates. So, the HCN price trend in America remained low swinging.

Analyst Insight

According to procurement resources, HCN price trend are expected to remain mixed, as the recession is still clouding over Europe and, the Russia – Ukraine war is still ongoing, but the supply chains have been restored and industries have also revived, so downstream demand is expected to rise.

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