For the Quarter Ending March 2026
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Nitric Acid Prices in听North America
- In the USA, the Nitric Acid Price Index rose by 5.46% quarter-over-quarter from ammonia spikes.
- The average Nitric Acid price for the quarter was approximately USD 302.67/MT delivered Gulf Coast.
- Spring buying tightened markets and the Nitric Acid Spot Price uplifted the regional Price Index.
- Imported ammonia freight and insurance raised the Nitric Acid Production Cost Trend, pressuring conversion margins.
- Nitric Acid Demand Outlook is firmer as fertilizer blending ramps and industrial consumption supports offtake.
- Nitric Acid Price Forecast points to near term stability, with summer softening from inventory accumulation.
- Domestic buffer stocks and steady plant utilisation constrained Nitric Acid Price Index volatility.
- Gulf Coast producers maintained offers as export competition and railcar allocations tightened merchant spot availability.
Why did the price of Nitric Acid change in March 2026 in North America?
- Anhydrous ammonia jumped sharply, raising conversion costs and transmitting cost pressure into delivered nitric acid.
- Local truck shortages and Mississippi corridor surcharges lengthened lead times, reducing availability, tightening spot markets.
- Fertilizer blending ramped; industrial demand steadied, depleting spot inventories and enabling sellers to pass higher costs.
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Nitric Acid Prices in听APAC
- In South Korea, the Nitric Acid Price Index rose by 7.38% quarter-over-quarter, driven by export outage.
- The average Nitric Acid price for the quarter was approximately USD 300.67/MT, reflecting FOB Busan.
- Port congestion tightened ammonia feedstock deliveries, supporting Nitric Acid Production Cost Trend and firming short-term offers.
- Inventory draws at Ulsan tightened spot liquidity, influencing the Nitric Acid Spot Price and availability.
- Demand remained steady across fertilizers and electronics, shaping the Nitric Acid Demand Outlook for spring season.
- Sustained procurement by electronic blenders lifted the Nitric Acid Price Index despite softer ammonia cost dynamics.
- Forecasts indicate supply easing post-turnaround could alter the Nitric Acid Price Forecast, moderating upward pressure later.
- Higher electricity tariffs and geopolitical risks underpin conversion costs, shaping the Nitric Acid Production Cost Trend.
Why did the price of Nitric Acid change in March 2026 in APAC?
- A major Lotte Chemicals Yeosu turnaround starting 27 March curtailed export supply, directly tightening market availability.
- Elevated electricity tariffs and reliance on imported ammonia raised production costs, pressuring FOB offers during March.
- Steady fertilizer and electronics procurement plus regional export inquiries sustained demand, amplifying price response to reduced supply.
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Nitric Acid Prices in听Europe
- In Germany, the Nitric Acid Price Index rose by 7.9136% quarter-over-quarter, driven by firmer energy costs.
- The average Nitric Acid price for the quarter was approximately USD 500.00/MT, per reported data.
- Supply restarts and retrofit work tightened availability, lifting Nitric Acid Spot Price and Price Index.
- Seasonal buying and curve shifts informed the Nitric Acid Price Forecast projecting mild gains regionally.
- Natural gas quotation upticks drove the Nitric Acid Production Cost Trend higher, squeezing producer margins.
- Fertilizer front loading and steady industrial activity define Nitric Acid Demand Outlook for spring applications.
- Thin Hamburg inventories and strong export demand tightened availability, elevating the Nitric Acid Price Index.
- Producers resumed operations while completing abatement work, keeping overall supply balanced but spot parcels constrained.
Why did the price of Nitric Acid change in March 2026 in Europe?
- Higher ammonia replacement costs and retrofit related outages reduced volumes, prompting sellers to strengthen offers.
- Rising natural gas quotations increased production costs, reinforcing seller pricing and limiting downward pressure regionally.
- Port congestion and extended freight routes increased logistics costs, tightening supply chains and reducing inventories.
For the Quarter Ending December 2025
North America
- In USA, the Nitric Acid Price Index rose by 2.38% quarter-over-quarter, reflecting modest cost pass-through.
- The average Nitric Acid price for the quarter was approximately USD 287.00/MT, indicating steady levels.
- Inventories and discounted Asian imports capped Nitric Acid Spot Price swings despite higher freight pressures.
- Near-term Nitric Acid Price Forecast expects muted upside as sellers defend margins with year-end procurement.
- Flat ammonia values kept the Nitric Acid Production Cost Trend steady, reducing producer price pressure.
- Nitric Acid Demand Outlook shows agricultural replenishment and steady industrial offtake supporting DEL Houston levels.
- Export constraints and extended delivery cycles tightened spot availability, lifting the Nitric Acid Price Index.
- Planned ammonia facility maintenance reduced flexibility, but domestic production continuity maintained balanced Nitric Acid supply.
Why did the price of Nitric Acid change in December 2025 in North America?
- Constrained imports and logistical disruptions reduced prompt availability, allowing sellers to defend marginally higher offers.
- Earlier ammonia inflation pushed producers to pass through costs, though December feedstock values were stable.
- Fertilizer blenders' pre-spring replenishment and steady industrial offtake absorbed supply friction, supporting firmer quarterly pricing.
APAC
- In South Korea, the Nitric Acid Price Index rose by 1.2% quarter-over-quarter, reflecting logistical tightness.
- The average Nitric Acid price for the quarter was approximately USD 280.00/MT, reported on FOB Busan terms.
- Supply remained adequate but constrained by port congestion, supporting a firmer Nitric Acid Spot Price.
- Market commentary underpinned a cautious Nitric Acid Price Forecast, reflecting post-holiday restocking and shipping normalization.
- Soft ammonia feedstock weakened the Nitric Acid Production Cost Trend, allowing lower variable margins overall.
- Nitric Acid Demand Outlook remains muted short term, as fertilizer and construction activity stay subdued.
- Rising inventories pressured Nitric Acid Price Index, while contracts and export commitments supported FOB offers.
- Scheduled maintenance and shipping delays limited spot availability, enhancing producers' pricing power for select export cargoes.
Why did the price of Nitric Acid change in December 2025 in APAC?
- Port congestion and weather disruptions delayed feedstock shipments, tightening near-term supply and increasing logistical premia.
- Soft ammonia costs reduced production expenses, tempering upward pressure despite constrained physical availability at times.
- Muted domestic demand from fertilizer and construction sectors, plus high regional inventories, capped price gains recently.
Europe
- In Germany, the Nitric Acid Price Index rose by 2.89% quarter-over-quarter, reflecting cost-driven inventory discipline.
- The average Nitric Acid price for the quarter was approximately USD 463.33/MT, reflecting Hamburg FOB basis.
- Nitric Acid Spot Price softened as exporters offered competitive Black Sea volumes and year-end destocking.
- Nitric Acid Price Forecast anticipates recovery as winter gas premiums lift ammonia-driven production costs modestly.
- Nitric Acid Production Cost Trend rose due to electricity and nitrous-oxide abatement expenses pressuring margins.
- Nitric Acid Demand Outlook cautious; fertilizer restocking limited, construction activity remains weak, curbing consumption growth.
- Nitric Acid Price Index showed lean stocks as exports to France and Belgium tightened availability.
- Producers maximized domestic output, with FOB Hamburg offers disciplined; merchant destocking pressured short-term spot liquidity.
Why did the price of Nitric Acid change in December 2025 in Europe?
- Domestic capacity utilization offset global ammonia disruptions, preventing deeper shortages despite localized feedstock constraints effectively.
- Elevated winter electricity and nitrous-oxide abatement costs increased production expenses; port congestion slowed cargo turnaround.
- Cautious downstream procurement, CBAM uncertainty, and year-end destocking reduced spot buying and moderated price momentum.
For the Quarter Ending September 2025
North America
- In USA, the Nitric Acid Price Index rose 1.14% quarter-over-quarter, reflecting stabilized demand and costs.
- The average Nitric Acid price for the quarter was approximately USD 296.00/MT across markets nationwide.
- Nitric Acid Spot Price remained steadier on constrained supply and seasonal demand, narrowing price differentials.
- Nitric Acid Price Forecast suggests stability as fertilizer activity fluctuates and feedstock costs remain modest.
- Nitric Acid Production Cost Trend points to pressure from ammonia and natural gas, supporting pricing.
- Nitric Acid Demand Outlook remains tempered by fertilizer troughs but supported by restocking in sectors.
- Nitric Acid Price Index trends reflect buyers, with import parity and freight costs shaping sentiment.
- Supply disruptions and elevated freight costs dampened Nitric Acid Spot Price gains despite downstream orders.
- Nitric Acid Price Forecast remains aligned with Production Cost Trend as Demand Outlook trends stabilize.
Why did the price of Nitric Acid change in September 2025 in North America?
- Supply tightness in Gulf Coast nitric acid supported price stability despite slow fertilizer demand conditions.
- Cost pressures from ammonia and eeeeeeeee trimmed margins but offset by import changes recent.
- Logistics improvements and steady domestic production limited volatility, though seasonal restocking kept offers relatively firm.
APAC
- In South Korea, the Nitric Acid Price Index fell 0.72% quarter-over-quarter, in Q3 2025, due to balanced supply.
- The average Nitric Acid price for the quarter was approximately USD 276.67/MT, reflecting modest volatility.
- Nitric acid Spot Price movements tracked regional demand oscillations, with export pull moderating domestic oversupply pressures.
- Nitric acid Price Forecast remained cautious, as seasonal lull and inventory restocking kept the Price Index under pressure.
- Nitric acid Production Cost Trend benefited from stable feedstock ammonia costs, supporting margins despite softer demand.
- Nitric acid Demand Outlook remained mixed, with regional fertilizer restocking and autumn applications influencing near-term uptake.
- Price Index dynamics reflect balanced regional inventories and steady port inflows, limiting abrupt spot price swings.
- Nitric acid Spot Price volatility linked to freight rates and regional export demand shifts across markets.
- Nitric acid Price Forecast suggests a flat-to-moderate drift, supported by restocking activity and stable energy costs.
Why did the price of Nitric Acid change in September 2025 in APAC?
- Export demand from Southeast Asia and Japan remained muted, limiting domestic price appreciation despite adequate ammonia supply.
- Seasonal restocking by fertilizer manufacturers supported volumes but was offset by higher inventories, tempering price momentum.
- Rising feedstock costs for ammonia were mitigated by pre-purchased low-cost inventories, capping price increases in the near term.
Europe
- In Germany, the Nitric Acid Price Index rose by 0.75% quarter-over-quarter, in Q3 2025, supported by supply tightness.
- The average Nitric Acid price for the quarter was approximately USD 450.33/MT.
- Nitric Acid Spot Price indicators remained mixed, with supply tightness supporting the Price Index despite weak demand.
- Nitric Acid Price Forecast remains cautious, given energy costs, Rhine transport constraints, and seasonal restocking dynamics.
- Nitric Acid Production Cost Trend shows mild upward pressure from energy and logistics, offset by lower feedstock costs.
- Nitric Acid Demand Outlook remains muted in Germany, with fertilizer seasonality and export softness capping gains.
- Nitric Acid Spot Price volatility persisted into Q3 2025 as demand cycles and cargo flows shifted, affecting prices.
- Nitric Acid Price Index readings point to gradual stabilization, with logistic bottlenecks easing but regional imbalances linger.
Why did the price of Nitric Acid change in September 2025 in Europe?
- September 2025 price movement was driven by persistent supply tightness in Germany due to Rhine water levels and transport delays.
- Costs rose modestly from energy and natural gas, while export channels remained tepid, dampening demand.
- Seasonal restocking and port logistics constraints contributed to cautious buying and price stabilization in September.
For the Quarter Ending June 2025
North America
- The Nitric Acid Price Index in North America rose by 0.5% quarter-over-quarter in Q2 2025, driven mainly by persistent supply constraints in May and June, despite a weak April.
- Fertilizer-related demand showed moderate seasonal strength in mid-quarter, followed by a lull towards the end of quarter. Buyers advanced purchases amid trade uncertainties, though industrial offtake remained stable but uninspiring throughout.
- Domestic output remained steady but import flows from Asia and Europe were limited across the quarter due to logistical delays, higher overseas prices, and port-level bottlenecks, tightening the overall market.
- U.S. export competitiveness was undermined by cheaper Asian material and slow global trade recovery, capping outbound volumes despite a brief window of tariff relief.
- Overall, North America鈥檚 nitric acid market in Q2 2025 reflected supply-led firmness with demand fluctuations, as price movements leaned more on constrained availability than robust consumption.
Why did the price of Nitric Acid change in July 2025 in the U.S.?
- In July 2025, Nitric Acid prices in the U.S. declined due to a combination of seasonal demand weakness and easing supply-side pressure.
- Fertilizer demand remained soft post-summer fill, and industrial consumption showed little momentum, leading to low procurement activity.
- Supply conditions normalized as overseas shipments from Asia and Europe improved, while domestic production stayed stable. Improved import availability and flat feedstock costs kept inventories ample, further weakening price sentiment.
- Market participants exercised purchasing restraint amid surplus availability and no clear signals of price floor.
- With minimal cost inflation and muted downstream demand, sellers lowered prices to stimulate offtake and prevent inventory build-up.
Europe听
- The Nitric Acid Price Index in Europe rose by 0.8% quarter-over-quarter in Q2 2025, supported by intermittent logistical bottlenecks, though demand remained largely muted.
- Fertilizer demand moderated by June-end after strong pre-buying in May; industrial uptake stayed flat. Export activity slowed into Eastern Europe due to geopolitical uncertainties.
- Output remained consistent in April and May but was increasingly restricted by June due to Rhine River low water levels and port backlogs.
- Export interest softened in the latter half of Q2 as buyers across Eastern and Central Europe grew cautious amid macroeconomic uncertainty and cautious inventory handling.
- Q2 pricing was primarily supported by temporary logistical friction and precautionary buying, rather than any broad-based improvement in downstream demand.
Why did the price of Nitric Acid change in July听2025 in Europe?
- Nitric acid prices in Europe fell in July 2025, as fertilizer demand declined post-application season and prior stockpiling limited new orders.
- Downstream buyers adopted a wait-and-see approach amid expectations of further price softening and no feedstock-driven cost pressure.
- As feedstock prices remained stable and export demand softened, sellers adjusted offers downward to sustain contract volumes.
APAC
- The Nitric Acid Price Index in APAC fell 1.8% quarter-over-quarter in Q2 2025, with slight gains in April and June offset by a more pronounced dip in May amid weakening downstream interest.
- Fertilizer demand showed limited strength, with April and June benefitting from seasonal crop cycles, while May faced drag due to low grain prices and distributor destocking.
- Supply availability improved progressively, aided by uninterrupted flows from key Northeast Asian producers.
- Imports continued steadily, though high intra-Asia freight costs in April and again in June prompted importers to adopt cautious restocking strategies.
- Overall, Q2 pricing stayed mildly bearish as intermittent seasonal demand and logistics friction failed to outweigh the broader impact of supply abundance and cost pass-through resistance.
Why did the price of Nitric Acid change in July 2025 in APAC?
- Nitric acid prices in APAC declined in July as fertilizer demand tapered following the end of peak seasonal application across Thailand, Vietnam, and the Philippines.
- Major buyers slowed procurement after completing pre-monsoon restocking in June, resulting in reduced spot activity, and mounting inventory at distributor levels.
- Stable supply from key exporters like South Korea and China continued amid no major production outages, keeping availability comfortable throughout the month.
