Nitric Acid Prices: Market Insights and Trends

 

 

Nitric acid prices have moved sharply higher across key global regions, driven by climbing ammonia feedstock costs and renewed demand from the fertilizer, explosives, and chemical manufacturing sectors. Industry sources are closely monitoring pricing trends as availability tightens and logistical hurdles persist in multiple countries.

As of April 2025, nitric acid prices in Asia have risen steadily, with current offers ranging between $340 and $390 per metric ton. The increase is primarily due to elevated ammonia prices, which surged amid natural gas volatility and constrained production in certain parts of China. Local demand from urea ammonium nitrate (UAN) and ammonium nitrate plants has remained strong, keeping supply under pressure.

“Producers are facing higher costs from feedstock ammonia, and that’s directly impacting nitric acid prices,” said a procurement officer at a major Indian agrochemical company. “The market has remained bullish since February, and there are no signs of easing yet.”

In India, domestic nitric acid producers have raised their quotations in response to both costlier ammonia and steady downstream demand from fertilizers and nitro-based explosives. Prices climbed close to ₹34,000 per metric ton in early April, compared to ₹30,000 in late February. Analysts noted that several small and mid-sized manufacturers have begun sourcing material under longer-term contracts to manage pricing risks.

In Europe, nitric acid prices have also gained momentum, touching €410 to €450 per metric ton. The region’s fertilizer producers are operating at full capacity to meet spring cropping season demand. However, supply chain inefficiencies and slower ammonia imports from North Africa and the Middle East have added upward pressure. Several European nitric acid units are also undergoing maintenance, further tightening local inventories.

“The nitric acid supply situation is tighter than usual,” said a trader in the Netherlands. “Maintenance activities are reducing output at a time when farmers need product fast. It’s a tightrope situation.”

North America has seen more stable nitric acid prices, with rates hovering around $370 to $420 per metric ton. U.S. manufacturers have benefited from more reliable ammonia supply and moderate natural gas prices. However, importers in Mexico and Central America are reporting price increases due to higher freight and handling charges, pushing landed costs closer to $450 per ton in some regions.

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Meanwhile, Latin American markets have observed fluctuating nitric acid prices, with Brazil and Argentina noting increased procurement activity from industrial users. Domestic production remains limited, so import dependency has heightened sensitivity to international pricing and shipping conditions. A recent port congestion issue in Santos delayed shipments, tightening availability and boosting prices.

Middle East producers have largely kept nitric acid prices firm due to steady demand and ongoing export commitments to Asia and Africa. Prices remain close to $380 per metric ton in Gulf markets. African buyers, particularly in Nigeria and Egypt, continue to report tight availability and elevated rates, nearing $460 per ton in some inland regions due to transport challenges.

Looking ahead, nitric acid prices are expected to remain elevated unless ammonia values stabilize. Many manufacturers are cautious, given the current feedstock uncertainty and strong seasonal demand from downstream sectors. Fertilizer application is peaking across the Northern Hemisphere, while mining and industrial explosives sectors continue to absorb significant volumes.

“There is no room for pricing errors right now,” said an analyst at a global chemical market intelligence firm. “Nitric acid producers are closely tracking every input cost, and buyers are trying to lock in rates before another wave of hikes.”

In the longer term, potential relief could emerge if global ammonia production increases or natural gas prices decline. However, given the geopolitical tensions affecting energy supply chains and limited spare capacity among key nitric acid producers, any major correction in pricing appears unlikely in the near future.

For now, market participants should expect nitric acid prices to stay firm. Industry watchers advise buyers to secure adequate volumes early and hedge against possible feedstock volatility in the coming months.c acid or ammonium nitrate.

ChemAnalyst

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