Ammonium Nitrate Prices

Ammonium Nitrate Prices June 2024

During the second quarter of 2024, the ammonium nitrate prices in the United States reached 375 USD/MT in June. The U.S. Ammonium Nitrate market saw a fall in prices due to lower agricultural demand from extreme weather and reduced feedstock costs. Disruptions from floods and storms further impacted supply chains. Seasonality and weak demand led to slight price drops from the past quarter.

In Q2 2024, ammonium nitrate prices in China saw significant price drops due to oversupply and stagnant demand. The quarter ended with ammonium nitrate priced at 466 USD/MT in June. Despite seasonal planting, demand stayed weak, intensifying the decline in prices. The market experienced a slight dip from Q1 2024, with a consistent bearish sentiment driving further price reductions.

Ammonium Nitrate Prices March 2024

During Q1 2024, the ammonium nitrate prices in the United States reached 510 USD/MT in March. The U.S. ammonium nitrate market saw a decline due to lower prices for raw materials like ammonia and natural gas and calm winter weather reducing production. This created a market surplus. Despite ongoing planting in Brazil and a slight surge in Asian demand, domestic demand remained low post-peak planting season.

The ammonium nitrate prices in China saw a price increase during the first quarter of 2024 due to trade uncertainties, a shortage in supply, and the high cost of shipping caused by geopolitical disturbances. The quarter as they ended with ammonium nitrate priced at 520 USD/MT in March. Besides this, equipment malfunctions and partial stops in sales exacerbated material shortages. Prices later declined as domestic demand, initially dampened by the Lunar New Year, rebounded but was still affected by adverse weather.

Ammonium Nitrate Prices December 2023

The ammonium nitrate prices in the United States for Q4 2023 reached 335 USD/MT in December. In the U.S., the market was dominated by the rise in the prices of key feedstock ammonia, which ended up impelling the cost of producing ammonium nitrate. The market price remained high due to the strong demand for ammonia and its derivatives ascertainment in the domestic market.

In Q4 2023, the price of ammonium nitrate in China reached 330 USD/MT by December. However, in the Asia Pacific region, prices dropped in Q1 owing to an oversupply of materials in the Chinese market. The surplus availability was further exacerbated after China's National Development and Reform Commission (NDRC) extended its suspension of fertilizer exports, leading to an excess inventory within the market.

The price trend for ammonium nitrate in Europe for Q4 2023 reached 360 USD/MT in December. The region's ammonium nitrate market is witnessing a downward trajectory throughout the fourth quarter of 2023 due to the surplus availability of the material in the market, coupled with lackluster demand from the prominent downstream user fertilizer industry.

Regional Coverage

The report provides a detailed analysis of the ammonium nitrate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the ammonium nitrate price trend.

Global Ammonium Nitrate Price

The report offers a holistic view of the global ammonium nitrate pricing trends in the form of ammonium nitrate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into ammonium nitrate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into ammonium nitrate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed ammonium nitrate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Ammonium Nitrate Price

Q2 2024:

During Q2 2024, the European market displayed mixed trends. Prices fell during the first half due to decreased demand from the agriculture sector and an oversupply situation. Adverse weather patterns, such as floods and windstorms, further dampened fertilizer demand and interruptions in agricultural activities, especially in key regions like Austria, France, Italy, and the Netherlands. However, by the end of the quarter, prices rebounded slightly due to a modest increase in demand and fewer inquiries in the global market, impacted by a temporary export hiatus in China. This volatility reflects the market’s response to unpredictable weather conditions and domestic agricultural challenges.

Q1 2024:

The ammonium nitrate market in Europe faced difficulties in Q1 2024, with a notable price drop in Russia due to decreased fertilizer sector demand and oversupply issues. Variability in weather, cold spells, excessive rainfall, and aridness impacted agricultural activities and thereby fertilizer needs. Besides this, trade uncertainties and farmers' protests, driven by increasing energy costs, further strained market conditions. Despite various pricing strategies to manage inventory and reduce production rates, the market remained subdued throughout the quarter, with a negative pricing atmosphere.

Q4 2023:

In Q4 2023, the European market experienced a steady price decline due to weak consumption in the fertilizer sector and an oversupply situation. Consumers were cautious, anticipating possible price drops before the Spring 2024 demand peak, and were thus delaying purchases. Unfavorable weather, including heavy rainfall, further reduced buyer interest. Trade concerns, notably in the Middle East, led to rerouting and increased port inventories in Europe. These combined factors resulted in a reduced demand-supply gap, encouraging the price drop.

This analysis can be extended to include detailed ammonium nitrate price information for a comprehensive list of countries.

North America Ammonium Nitrate Price

Q2 2024:

In the second quarter of 2024, the market faced a steady decline in prices, primarily due to a combination of diminished agricultural demand and lower feedstock costs. Extreme weather events, including severe heatwaves, disrupted planting activities, resulting in reduced demand from key agricultural sectors. Moreover, significant disturbances in supply chains, such as CF Industries' force majeure in Mississippi and LSB Industries' storm-related shutdown in Arkansas, compounded the situation, although these disruptions were temporary. The market saw a marked decrease in prices, with an overall downward trend from the past quarter, leading to a bearish sentiment driven by ample supply and weak demand.

Q1 2024:

The market experienced a decline in Q1 2024 due to falling prices of key feedstocks like natural gas and ammonia. A moderate winter season led to subdued manufacturing output, creating an oversupply in the market. Although Brazil's planting season continued, Carnival celebrations temporarily slowed agricultural activities, keeping demand subdued. The Asian market saw only a slight uptick in demand that didn't significantly impact prices. Domestic demand also stayed low as the planting season peaked. Consequently, prices fell in comparison to last year, with ample supply and subdued demand shaping the market.

Q4 2023:

The ammonium nitrate market in North America was driven by a significant hike in prices at the onset of the fourth quarter of 2023. The market was affected by the rising cost of key feedstock ammonia, which resulted in a spike in the manufacturing cost of ammonium nitrate. Additionally, the limited availability of materials across the region caused ammonia prices in the country to surge.

Specific ammonium nitrate historical data within the United States and Canada can also be provided.

Middle East and Africa Ammonium Nitrate Price

The report explores the ammonium nitrate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on ammonium nitrate prices for countries can also be provided.

Asia Pacific Ammonium Nitrate Price

Q2 2024:

The APAC ammonium nitrate market in Q2 2024 experienced a noticeable price decline attributed to a surplus in supply and stable demand. The market, particularly in China, faced substantial downward pressure due to an excess of ammonium nitrate and the absence of new international inquiries. The demand remained low despite ongoing seasonal planting activities, leading to a continued bearish outlook. The market's general trend indicated a decrease in market costs, with reductions becoming more pronounced as participants anticipated further declines. The persistent oversupply and subdued demand characterized the quarter, culminating in a notable price decline.

Q1 2024:

The market saw mixed pricing trends in the first quarter of 2024. Initial price increases in China were spurred by trade concerns, high transportation rates, and supply shortages due to geopolitical disturbances. Moreover, problems like partial sales stoppages and equipment malfunctions further impacted the market. The market prices started to fall as the quarter progressed. In China, local demand was initially dampened by Lunar New Year celebrations but picked up in expectation of planting season, although poor weather continued to affect buyer interest. Western markets also experienced limited demand, influenced by detrimental weather related to El Niño.

Q4 2023:

The Asia Pacific ammonium nitrate market showcased mixed market trends for the fourth quarter ending in December 2023. The costs of Chinese ammonium nitrate declined in July 2023 in the wake of reduced purchasing activities from the domestic and international fertilizer market. Despite these factors, due to the end of the peak planting season, the demand from the fertilizer industry stayed subdued. This complex interplay of supply and cost pressures created a volatile market environment in the region.

This ammonium nitrate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Ammonium Nitrate Price

The analysis of ammonium nitrate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Ammonium Nitrate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Ammonium Nitrate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of ammonium nitrate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of ammonium nitrate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of ammonium nitrate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing ammonium nitrate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Ammonium Nitrate Market Analysis

The global ammonium nitrate industry size reached US$ 17 Billion in 2023​. By 2032​, IMARC Group expects the market to reach US$ 23.9 Billion, at a projected CAGR of 3.90% during 2023-2032​.

• One of the commonly used fertilizers is ammonium nitrate as it offers nourishment to the plants and the enhancement of crops produced due to its excessive nitrogen.
• To keep up with a population of over 9.7 billion people predicted to inhabit the world by the year 2050, the demand for the product is projected to swell considerably.
• It is also commonly employed and a vital component in various sectors, such as explosives and some foods.
• The manufacturing of ammonium nitrate is witnessing a surge as it has been a critical aid in several industries. It is largely used to produce explosives, which are used in various activities such as building bridges, roads, and tunnels.
• Mining firms use ammonium nitrate for excavation and blasting. It acts as a key explosive agent, facilitating controlled blasting to break rock and ore during mining operations.
• In addition, several administrations worldwide are aiming to enhance the agriculture sector through earnings, policies, and fertilizer subsidies. These measures include increasing support for farmers, implementing favorable policies, and providing subsidies to boost fertilizer use and agricultural productivity.
• The continuous technological improvements make the production method less expensive, making it more commercially attractive.
• Moreover, the market size is expanding as countries around the world are shifting their focus on nitrogen-based fertilizers due to the environmental risks associated with the substantial use of phosphorous-based fertilizers, which is boosting the market growth.
• Furthermore, as the use of biofuels derived from maize and sugarcane grows further, fertilizer use is expected to climb to ensure that crop output is maximized.
• Additionally, the prices of other production items for the production of the fertilizer, namely natural gas, ammonia, and freight, are the factors that affect the price of ammonium nitrate directly.
• Increasing consumer acceptance of organic products has surged the practice of organic farming, which uses natural fertilizers rather than synthetic fertilizers like ammonium nitrate.
• Rapid urbanization is increasing the demand for infrastructure and food, which is further escalating the need for chemicals to boost agricultural production, ensuring a stable food supply and meeting the needs of growing populations.

Ammonium Nitrate News

The report covers the latest developments, updates, and trends impacting the global ammonium nitrate industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in ammonium nitrate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the ammonium nitrate price trend.

Latest developments in the ammonium nitrate industry:

• In Feb 2024, Indonesia's President Joko Widodo inaugurated an ammonium nitrate plant in East Kalimantan, aiming to boost the country's self-sufficiency in food production. The plant, jointly owned by three state-owned companies, has an annual capacity of 75,000 tons. The plant's launch is expected to reduce reliance on imports and enhance domestic production capabilities.
• In September 2023, Fertiberia launched the world’s first low-carbon technical ammonium nitrate (TAN) produced from green hydrogen, partnering with Orica to supply this innovative TAN for the mining and civil infrastructure markets in Europe, the Middle East, and Africa.

Product Description

Ammonium nitrate includes ammonium ions and nitrate ions. It is generally produced by reacting ammonia gas with nitric acid, which results in the production of ammonium nitrate and water.

In agriculture, ammonium nitrate is generally used as a fertilizer based on nitrogen that provides the necessary nutrients for successful growth and enhanced harvests. Its high content of nitrogen improves folium growth and leads to strong and healthy plants. This compound is also used in the explosives industry as a component of certain explosives used in mining, construction, and other fields.

Ammonium nitrate is suitable for explosives since it releases oxygen when heated. Among the advantages of this compound is the fact that it is water-soluble, which means it can be used in fertilizing plants using the irrigation method or via spray equipment. Additionally, it is relatively cheap in comparison to other nitrogen-containing fertilizers.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of ammonium nitrate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting ammonium nitrate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The ammonium nitrate price charts ensure our clients remain at the forefront of the industry.