Sulfuric acid prices rose sharply through the first half of 2026 before retreating from their mid-year peak as supply conditions loosened. Weak downstream demand has contributed to the easing, though the commodity remains a critical revenue buffer for copper smelters facing squeezed processing margins. The price trajectory reflects the interplay between by-product supply dynamics and broader industrial demand.
China's 98% smelting sulfuric acid price eased over the week as spot trading weakened and recovering supply added pressure. Elevated sulfur and metal ore costs provided partial support, but the market faces further downside as lower-priced regional supplies increase competitive pressure.
Asia
Dinitrotoluene (DNT) prices in Asian markets fluctuated significantly throughout 2024, mirroring trends seen in related nitrotoluene compounds. The first quarter started with an upward trajectory, driven by major toluene plant shutdowns and the Chinese Lunar New Year festivities that constrained supply chains. By Q2, the market stabilized briefly before facing challenges from increasing feedstock oversupply, particularly toluene derivatives.
Mid-year saw oscillating price patterns as downstream demand from agricultural, pharmaceutical, and dye sectors remained weak. The fourth quarter brought a welcome rebound for DNT manufacturers as increased demand from oil blending sectors and holiday season stockpiling helped absorb excess inventory.
Europe
The European DNT market experienced predominately bearish conditions throughout 2024. The year began with stagnant pricing amid fluctuating crude oil and naphtha costs, as traders struggled to maintain equilibrium between supply and demand. Complications from Red Sea shipping disruptions created logistical challenges that hampered market growth. By mid-year, prices continued their downward trend due to diminished demand from construction and paints sectors. The final quarter showed minimal improvement despite modest increases in buying activity for year-end inventory replenishment, but overall market sentiment remained cautious.
North America
DNT prices in North America demonstrated more resilience than other regions but still faced considerable volatility. Early 2024 saw manufacturers attempting to balance supply and demand despite rising crude oil costs and significant logistical challenges from Panama Canal congestion. The market faced additional pressure from port strikes in October, causing order disruptions. Throughout the middle quarters, weak terminal demand coupled with falling feedstock prices dictated pricing fundamentals. DNT market activity improved slightly by year-end, driven by recovering industrial sectors, particularly in coatings and explosives manufacturing.
Analyst Insight
According to Procurement Resource, Dinitrotoluene prices are expected to experience modest stabilization in early 2025, with potential gradual increases as downstream industries adjust to new market dynamics.
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In the third and fourth quarters of 2023, the dinitrotoluene price trend remained stable in the Asian market, notably in China, moving opposite to the general trend observed around the globe. This stability reflects Asia's strong and distinct market dynamics and demand patterns, particularly in key sectors like dyes and pharmaceuticals.
However, in Europe, the prices of dinitrotoluene experienced a decline due to volatility in toluene and nitric acid prices. These oscillations in the market were further fueled by the oscillations in the supply rates of crude oil after sanctions were imposed on Russian supply lines. European manufacturers, therefore, adjusted prices in response to global supply chain dynamics and petrochemical market shifts. North America, on the other hand, mirrored Asia's stability in dinitro toluene prices despite a downtrend in its feedstock prices.
This relatively positive outlook of the market is attributed to the stabilization in inflationary pressure and interest rates charged by the banking sector. Along with this, sustained demand in the automotive and construction sectors also played a significant role in keeping the market dynamics above the red line. But North America wasn't entirely immune to global influences, with potential adjustments looming due to broader economic factors and feedstock price fluctuations. Stakeholders across regions exercised caution amidst the complex and evolving market landscape.
Dinitrotoluene (DNT) is an organic chemical whose two widely used isomers are 2,4- Dinitrotoluene and 2,6- Dinitrotoluene. Although it is primarily manufactured as a precursor to toluene diisocyanate, this light yellow crystalline solid is well recognised as a precursor to trinitrotoluene (TNT).
C7H6N2O4
1-Methyl-2,4-dinitrobenzene
TCI Chemicals, Spectrum Chemical, Toray Fine Chemicals (TFC), International labortary, Health Chemicals
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In this process using toluene, DNT is produced in a two-step nitration in the presence of nitric acid and sulfuric acid. First, toluene is nitrated to moninitrotoluene following a second nitration which produces dinitrotoluene.
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