Hydrogen Cyanide Price Trend and Forecast

Hydrogen Cyanide 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 Q3 of 2024

Asia

The hydrogen cyanide market in Asia exhibited mixed sentiments during Q3'24, with prices initially surging before entering a downward trajectory. The upward trend at the start was primarily attributed to rising feedstock ammonia costs as adverse weather conditions disrupted production and logistics networks across the region. However, the market witnessed a sharp reversal mid-quarter as multiple feedstock costs began declining.
 

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The weakening crude oil market, driven by sluggish Chinese demand and broader economic challenges, exerted downward pressure on production costs. Additionally, falling methanol prices in the region further reinforced the bearish market sentiment. The combination of high inventory levels and subdued downstream demand continued to weigh on market fundamentals toward quarter-end.

Europe

The European hydrogen cyanide market demonstrated significant volatility throughout Q3'24. The market strengthened initially due to substantial feedstock pressure, particularly from ammonia, which faced production challenges amid raw material shortages. However, the softening crude oil market and declining methanol prices partially offset these gains. The European Central Bank's monetary policy adjustments added to market uncertainty, resulting in cautious purchasing patterns among end-users.

North America

The US domestic market showed notable price fluctuations during Q3'24. Early quarter prices found support from tight ammonia supply conditions and weather-related disruptions affecting production facilities. However, prices began declining as crude oil markets weakened amid demand concerns and building inventories. The downward trend in methanol prices further contributed to the bearish market sentiment, despite ongoing geopolitical tensions affecting supply chains.

Analyst Insight

According to Procurement Resource, the price for Hydrogen Cyanide are expected to maintain its downward trajectory in the coming months. The declining trend in key feedstocks, coupled with global economic uncertainties and weak demand outlook, particularly from China, suggests continued bearish sentiment.
 

Hydrogen Cyanide Price Trend for the First Half of 2024

Stay updated with the latest Hydrogen Cyanide prices, historical data, and tailored regional analysis
 

Asia

Hydrogen cyanide prices showcased consistent fluctuations over the first half of 2024. During the first quarter, the upstream cost support was relatively higher since the surge in crude oil prices made the manufacturing and downstream processing costlier. However, the following quarter saw some normalization in the prices as well. In the second quarter of 2024, hydrogen cyanide prices faced a slight downward pressure, mimicking the sluggishness in its key feedstocks, ammonia, and methane markets.

The continuous price decline in ammonia across major markets, driven by sluggish demand from agricultural and chemical sectors, contributed to the downward trajectory of hydrogen cyanide prices. With frequent ups and downs, the general market outlook remained consolidated when looked at from half half-yearly perspective. The monthly average prices in the Indian hydrogen cyanide market went from about 3775 USD/MT in January’24 to around 3795 USD/MT in June’24. The general market sentiments remained positive for the most part.

Europe

In the European markets, the price performance for hydrogen cyanide was a little dull for the majority of the first half of the year 2024. The prices struggled to sustain their momentum primarily because of the lackluster demands in the market. The European markets were facing several challenges that were hurdling the price and demand growth for commodities across the board.

The ever-stretching Russian war entered its third year this year, and the markets continue to witness repercussions of that. The Ukrainian attacks on Russian refineries slightly inflated the global oil markets, which affected domestic energy security as well. Both the manufacturing and consumption in the European markets were curtailed. Overall, weak market performance was observed.

North America

The price performance of the American hydrogen cyanide market was also not very different. Because of the fluctuations in the prices of feedstock methane and ammonia, the HCN prices also remained varying for the most part. Even though the substantial downstream demands also gave occasional upticks to the price trajectory, the upstream dynamics were not that supportive.

Analyst Insight

According to Procurement Resource, a hybrid price performance is expected for Hydrogen Cyanide in the coming months, given the current market dynamics and pricing fundamentals.
 

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.

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.

Procurement Resource provides latest prices of Hydrogen Cyanide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.