For the Quarter Ending December 2025
North America
鈥� In USA, the Ammonium Nitrate Price Index rose by 1.82% quarter-over-quarter in Q4 2025, driven by ammonia feedstock.
鈥� The average Ammonium Nitrate price for the quarter was approximately USD 391.67/MT, weighted toward New York trade.
鈥� Inventory dynamics and export arbitrage supported firmer Ammonium Nitrate Spot Price, keeping the Price Index elevated.
鈥� Gulf Coast ammonia volatility pushed Ammonium Nitrate Production Cost Trend higher, constraining merchant margins and upstream availability.
鈥� Ammonium Nitrate Demand Outlook remained procurement-led, with agricultural pre-buying and industrial blasting supporting sustained seasonal offtake.
鈥� The Ammonium Nitrate Price Forecast indicates modest seasonal weakening then gradual recovery as spring restocking increases demand.
鈥� Logistics bottlenecks and rail dwell times limited prompt distribution, tightening Price Index despite adequate terminal inventories.
Why did the price of Ammonium Nitrate change in December 2025 in North America?
鈥� Stronger ammonia feedstock costs increased production replacement costs, contributing to modest December price appreciation pressure.
鈥� Seasonal procurement by farm-supply cooperatives and pre-spring restocking maintained demand, limiting immediate downward price movement.
鈥� Rail congestion and inland logistics delays constrained prompt redistribution, supporting regional tightness and modest price resilience.
APAC
鈥� In Indonesia, the Ammonium Nitrate Price Index rose by 1.6% quarter-over-quarter, driven by import tightness.
鈥� The average Ammonium Nitrate price for the quarter was approximately USD 508.00/MT, reflecting logistical premiums.
鈥� Ammonium Nitrate Spot Price remained firm as port congestion constrained prompt availability and elevated freight.
鈥� Ammonium Nitrate Price Forecast expects upward revisions as mining procurement accelerates and imports remain irregular.
鈥� Ammonium Nitrate Production Cost Trend eased as regional ammonia and nitric acid feedstock pressures moderated.
鈥� Ammonium Nitrate Demand Outlook remains robust for mining and quarrying while agricultural demand stays muted.
鈥� Ammonium Nitrate Price Index volatility rose as distributor inventories tightened amid monsoon disruptions and front-loading.
鈥� Domestic production covered roughly one-third of demand, sustaining import dependence and making freight volatility significant.
Why did the price of Ammonium Nitrate change in December 2025 in APAC?
鈥� Import delays and monsoon-related port congestion tightened supply, elevating logistics premiums and limiting spot availability.
鈥� Sustained mining procurement and year-end front-loading increased demand absorption, keeping upward pressure on prompt markets.
鈥� Firm regional ammonia and nitric acid feedstock supported production costs, preventing meaningful downward price correction.
Europe
鈥� In United Kingdom, the Ammonium Nitrate Price Index rose by 5.82% quarter-over-quarter, tightening import availability.
鈥� The average Ammonium Nitrate price for the quarter was approximately USD 485.00/MT, supporting distributor restocking.
鈥� Ammonium Nitrate Spot Price showed firmness as Price Index tightened on European exports and congestion.
鈥� Ammonium Nitrate Production Cost Trend rose; higher feedstock elevated manufacturing costs.
鈥� Ammonium Nitrate Demand Outlook remains moderate; restocking is offset by subdued farm application and caution.
鈥� Ammonium Nitrate Price Forecast expects modest volatility; prompt tightness will be eased by improving imports.
鈥� Price Index mirrored lean distributor stocks and European offers, exerting upward pressure on spot quotations.
鈥� Billingham and European plants ran reduced rates; port congestion and customs delays limited prompt supply.
Why did the price of Ammonium Nitrate change in December 2025 in Europe?
鈥� Tight import availability and seasonal restocking increased competition, tightening supplies and modestly supporting price momentum.
鈥� Higher ammonia and natural gas feedstock costs raised manufacturing expenses, increasing landed costs for importers.
鈥� Port congestion, weather disruptions and customs delays elevated freight premiums and delivery uncertainty for importers.
For the Quarter Ending September 2025
North America
鈥� In USA, the Ammonium Nitrate Price Index fell by 0.52% quarter-over-quarter, reflecting stable environment.
鈥� The average Ammonium Nitrate price for the quarter was approximately USD 384.67/MT, reported by surveys.
鈥� Ammonium Nitrate Spot Price softened as import competition and eased feedstock costs pressured domestic offers.
鈥� Ammonium Nitrate Price Forecast signals modest volatility driven by seasonal demand shifts and intermittent supply.
鈥� Ammonium Nitrate Production Cost Trend reflects lower natural gas influence while ammonia costs may recover.
鈥� Ammonium Nitrate Demand Outlook shows agricultural buying easing but industrial and mining offtake maintaining consumption.
鈥� Inventories and exports influenced the Ammonium Nitrate Price Index, localized shortages encouraged conservative replenishment strategies.
鈥� Major producers reported power disruptions and intermittent outages, tightening availability and supporting short term price resilience.
Why did the price of Ammonium Nitrate change in September 2025 in North America?
鈥� Severe heatwaves and regional power outages disrupted production, reducing inventories and tightening domestic supply chains for the short-term.
鈥� Eased natural gas and ammonia costs limited inflation, partially offsetting supply driven upward price impulses.
鈥� Seasonal agricultural demand softened and competitive imports pressured domestic offers, producing marginal downward pricing momentum.
APAC
鈥� In Indonesia, the Ammonium Nitrate Price Index rose by 0.60% quarter-over-quarter, reflecting balanced supply demand dynamics.
鈥� The average Ammonium Nitrate price for the quarter was approximately USD 500.00/MT, benchmarked nationally industry-wide.
鈥� Ammonium Nitrate Spot Price firmed as inventories tightened and spot availabilities recently constrained domestic trading.
鈥� Ammonium Nitrate Production Cost Trend moved higher on firmer ammonia and natural gas input costs.
鈥� Ammonium Nitrate Demand Outlook remains steady driven by agricultural planting and sustained mining procurement activity.
鈥� Ammonium Nitrate Price Forecast signals volatility as export inquiries and freight disruptions influence markets.
鈥� Domestic producers maintained steady; ensured supply continuity, thereby limiting Price Index shocks.
鈥� Geopolitical import risks and gas cost swings change Ammonium Nitrate Production Cost Trend and pricing.
Why did the price of Ammonium Nitrate change in September 2025 in APAC?
鈥� Sustained agricultural planting and increased mining procurement lifted offtake, supporting Ammonium Nitrate Price Index firmness.
鈥� Firm ammonia and gas costs, combined with freight, kept production costs stable, neutralizing any pressuring.
Europe
鈥� In the UK (United Kingdom), Ammonium Nitrate Price Index rose by 5.36% quarter-over-quarter, supply constraints.
鈥� The average Ammonium Nitrate price for the quarter was USD 458.33/MT on CFR Southampton delivery.
鈥� Ammonium Nitrate Spot Price firmed as import availability tightened and freight, insurance costs supported values.
鈥� Ammonium Nitrate Price Forecast indicates modest volatility from seasonal demand, constrained imports, and logistical pressures.
鈥� Ammonium Nitrate Production Cost Trend increasing as ammonia and gas costs firm into winter period.
鈥� Ammonium Nitrate Demand Outlook remains firm with peak planting, proactive stocking and steady industrial consumption.
鈥� Ammonium Nitrate Price Index reflected EU sanctions, reduced Eastern European exports and landed CFR values.
鈥� Inventories tightness and logistical constraints amplified short-term price sensitivity and prompted cautious buying behavior domestically.
Why did the price of Ammonium Nitrate change in September 2025 in Europe?
鈥� Supply reductions from Eastern Europe and Russia tightened imports, reducing available cargo for UK buyers.
鈥� Elevated ammonia and natural gas costs increased production expenses, pressuring CIF and CFR import pricing.
鈥� Port congestion, higher freight insurance and precautionary buyer stockpiling amplified short-term market tightness, price firming.
For the Quarter Ending June 2025
North America
鈥� The Ammonium Nitrate Price in North America have increased by 5.2% quarter-over-quarter in Q2 2025, reflected in a strong Price Index.
鈥� Despite falling feedstock costs (ammonia, nitric acid), production cost pressures persisted due to weather related disruptions.
鈥� Power outages and weather driven shutdowns at LSB, CF, Nutrien undermined supply; logistics remained viable via strategic inventory.
鈥� Agricultural demand held steady through peak corn-planting season, while construction/mining procurement remained cautious.
Supply-side disruptions affected production levels, with both planned maintenance and unexpected power outages at key facilities in the Midwest and Gulf Coast contributing to reduced output.
鈥� The primary reasons behind the price increase were firm seasonal demand and constrained supply, rather than any substantial shift in production costs.
Why did the prices of Ammonium Nitrate change in July in USA?
鈥� In July 2025, the Ammonium Nitrate Price Index experienced a modest price increase further due to a more widened disparity between demand and supply/聽
鈥� With the Rice and Cotton planting season in progress the enquiries of Ammonium Nitrate from the domestic market may remain firm.
鈥� With weather continues to get worse followed by heavy downpours and frequent power outage, supply remains constrained.聽
APAC
鈥� The Ammonium Nitrate Price in Indonesia have increased by 1.42% quarter-over-quarter in Q1 2025, reflected in a strong聽 Price Index.
鈥� Supply risk increased with global market disruptions鈥攑articularly involving Russian AN export鈥攄ue to conflict-driven production halts.
鈥� Domestically, strong fertilizer demand was observed in the middle of the quarter due to the onset of the dry season, which accelerated application in key growing regions.
鈥� Regional demand from Southeast Asian countries added pressure on domestic supply.
鈥� Demand was firm in the South Asian region owing to ongoing planting activities particularly from India.
鈥� Interest from international buyers, anticipating global shortages, added further price momentum.
鈥� Domestic producers in key countries like China, India, and Indonesia maintained moderate output, but some facilities underwent routine maintenance and faced logistics bottlenecks, limiting regional availability.
鈥� Interest from international buyers, anticipating global shortages, added further price momentum.
Why did the prices of Ammonium Nitrate change in July in Asia?
鈥� In July 2025, the Ammonium Nitrate Price Index experienced a modest price increase further due to a more widened disparity between demand and supply.
鈥� Increased demand from Southeast Asia. July marks the peak of the kharif planting season in South Asia, especially in India, driving up fertilizer consumption. Robust agricultural demand for nitrogen-based fertilizers like Ammonium Nitrate added upward pressure on the market.
鈥� Weather-related disruptions and port congestion across Southeast Asia and East Asia affected the delivery schedules of imported cargoes. These logistics bottlenecks reduced available inventory in the short term, raising local prices.
Europe
鈥� The Price Index for imported Ammonium Nitrate in Europe showed modest
fluctuations with the average percentage changes of 2.3% throughout Q2 2025.
鈥� However, in April 2025, the Price Index declined modestly, reflecting a shift from the upward trend seen in March.
鈥� In April, downstream demand was weak, with many growers avoiding bulk procurement due to ongoing agronomic uncertainties.
鈥� A notable gap emerged between producers鈥� expectations and buyer behavior, with farmers postponing purchases while suppliers anticipated higher volumes.
鈥� Prices moved upward during May and June, following earlier supply-side constraints and heightened regional demand.
鈥� Major producers, including LAT Nitrogen, increased price offers, prompting traders across Northwest Europe to follow suit to maintain margins.
鈥� Seasonal demand in June鈥攅specially from agricultural regions in the UK鈥攁dded further upward momentum to the AN Price Index.
鈥� Shipment delays from Lithuania and Poland, along with port congestion, limited overall market availability and pressured prices higher.
鈥� The UK remained heavily reliant on imports, sourcing from key European partners such as Poland and Lithuania.
鈥� Supply was disrupted by geopolitical tensions, including reports of attacks on Russian facilities and delays in regional exports.
鈥� The June planting season in the UK drove temporary surges in purchasing activity, particularly for nitrogen-based fertilizers like AN.
Why did the prices of Ammonium Nitrate change in July in Europe?
鈥� In July 2025, the Ammonium Nitrate Price Index experienced a modest price increase further due to a more widened disparity between demand and supply.
鈥� Low water levels in major inland waterways like the Rhine River continued to disrupt transport routes across central and western Europe. These logistical bottlenecks delayed deliveries and increased transportation costs, thereby tightening local supply and contributing to higher Ammonium Nitrate prices.
鈥� Russian exports faced growing restrictions due to geopolitical tensions and the European Parliament鈥檚 gradual imposition of higher import tariffs on Russian and Belarusian fertilizers. This reduced Europe's access to traditionally low-cost imports, pushing buyers to source from costlier alternatives.
鈥� In the United Kingdom, demand for Ammonium Nitrate remained firm during July, driven by delayed fertilizer applications from a wetter-than-expected spring. Growers were applying catch-up doses of nitrogen to support cereal and oilseed crops, leading to increased short-term procurement. Additionally, uncertainty around post-Brexit regulatory changes encouraged early stocking, putting upward pressure on localized pricing.
For the Quarter Ending March 2025
North America
In Q1 2025, the Ammonium Nitrate prices in the USA saw a steady upward trend, driven by tight supply and strong seasonal demand. Despite volatility in Ammonia feedstock costs, prices stayed elevated due to production cuts from extreme winter weather. Force majeure declarations by key producers like OCI Beaumont LLC and CF Industries, along with freight disruptions, limited domestic availability. Agricultural demand also picked up as farmers stockpiled ahead of spring planting, especially for crops such as rice and sorghum.
However, irregular weather patterns, including drought concerns and planting delays, led to cautious buying later in the quarter. On the global front, reduced output from Europe and China, coupled with speculation over potential fertilizer tariffs, added to the market鈥檚 uncertainty.聽
This combination of factors鈥攚eather-related supply constraints, logistical hurdles, and shifting agricultural sentiment鈥攕haped a price environment marked by upward pressure and cautious optimism throughout the quarter. The overall market reflected a delicate balance between demand recovery and supply limitations.
APAC
In Q1 2025, the Ammonium Nitrate market across the APAC region exhibited mixed trends, shaped by divergent dynamics in China and India. In China, prices initially dipped in January due to subdued demand, oversupply, and declining ammonia feedstock costs. However, prices rebounded in February and March, supported by rising demand ahead of the planting season, restocking activities, and constrained supply due to production disruptions. In contrast, the Indian market experienced steady price increases over the quarter, driven by robust domestic demand from the agricultural and mining sectors amid restricted imports and limited domestic output. Operational bottlenecks in China, such as port congestion and feedstock supply constraints, indirectly influenced regional trade dynamics, tightening availability across APAC. Meanwhile, India鈥檚 import reliance and firm consumption kept procurement activity strong. Overall, the APAC Ammonium Nitrate market remained responsive to seasonal agricultural demand, logistical challenges, and production fluctuations, reflecting a region-wide trend of tightening supply amid firm end-user demand, particularly as the planting season accelerated.
Europe
In Q1 2025, the European Ammonium Nitrate market experienced notable volatility with Russia being the most impacted region, reflecting a dynamic interplay of cost, policy, and demand-side drivers. January marked a sharp price rebound driven by higher feedstock costs, RUB appreciation, geopolitical uncertainties, and anticipated European tariffs. However, February brought a phase of price stagnancy as domestic demand and supply reached equilibrium amid a temporary government-imposed export ban to secure fertilizer availability for local farmers. This intervention ensured stable production and ample inventory levels, stabilizing prices. Demand during this period was modest, with some buyer hesitation due to lingering weather-related concerns. In March, prices declined marginally in response to easing feedstock ammonia costs and limited domestic inquiries. Additionally, the EU's anti-dumping duties on Russian Ammonium Nitrate disrupted export routes, contributing to regional supply overhangs and weakening price fundamentals. While local agricultural activity persisted, delayed nitrogen applications due to dry weather capped demand growth. Overall, Q1 reflected a shift from bullish to balanced and eventually softer market conditions in Russia.
