Silver Nitrate Price Trend and Forecast

Silver Nitrate Regional Price Overview

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

Silver Nitrate Price Trend for the First Half of 2024

The price trend of silver nitrate during the first half of 2024 was influenced significantly by the fluctuations in its feedstocks, particularly silver and nitric acid. Silver saw a bullish run during this period, driven by geopolitical uncertainties, high inflation, and expected Federal Reserve interest rate cuts, which spurred investments in bullion as a safer asset. Steady demand from downstream sectors such as jewelry, electric vehicles, and solar panels kept silver demand high, while industrial applications in electronics and healthcare also contributed to price stability. Although silver mining remained stagnant, the recycling of silver helped to meet rising industrial demand, maintaining a balanced supply-demand dynamic.
 

Silver Nitrate Price Chart

Please Login or Subscribe to Access the Silver Nitrate Price Chart Data
 

Meanwhile, the nitric acid market exhibited a mixed performance across different regions. In Asia, nitric acid prices fluctuated, influenced by changes in the ammonia market and demand from chemical and fertilizer sectors, with China experiencing price declines and India showing recovery.

Europe saw consistent depreciation in nitric acid prices in the first quarter, influenced by swelling inventories and shutdowns, but prices firmed up in the second quarter due to improved agricultural demand. In North America, nitric acid prices initially rose but stabilized later in the quarter as inventories increased. This interplay between silver and nitric acid feedstocks, with silver’s bullish run and varying nitric acid price movements, shaped the overall pricing environment for silver nitrate during the first half of 2024, resulting in stable but dynamic market conditions across regions.

Analyst Insight

According to procurement resources, the price of Silver Nitrate is expected to remain steady in the quarter’s ahead as well supported by the positive outlook of the feedstock commodities.
 

Silver Nitrate Price Trend for First Half of 2023

Silver nitrate is light-sensitive and helps in the generation of images, and thus, it is used in the creation of photographic films and sheets. Because of its antibacterial qualities, silver nitrate is utilized in wound care products within the pharmaceutical business. It is also used in the production of electrical conductors made of silver that are extensively used in the renewable energy sector.

In the industrial production of silver nitrate, silver, and nitric acid serve as feedstock materials and thus dictate its price trend. In the first two quarters of 2023, the situation of the silver market remained uncertain as the market fluctuated extensively. The weak position of the US economy had an adverse effect on the prices of silver and, in turn, silver nitrate.

However, in the Asia Pacific countries, the prices of silver surged due to the rise in demand on account of the festival season. Further, the trade of silver nitrate has also benefitted from the rise in the production of solar panels, increased consumption of renewable sources of energy, and the advent of 5G services around the globe.

Analyst Insight

According to Procurement Resource, the price trend of silver nitrate are expected to fluctuate with the demand from the consumers and the rate of production.

Procurement Resource provides latest prices of Silver Nitrate. 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.