Nitric Acid Price Trend Analysis 2026: Supply Demand Analysis, Latest News, Historical Prices, Market Insights & Price Drivers
Nitric Acid Price Trend Q1 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Nitric Acid | China | FOB | USD 204.54/MT | April 2026 |
| Nitric Acid | USA | FOB | USD 410.16/MT | April 2026 |
| Nitric Acid | Germany | FOB | USD 289.86/MT | April 2026 |
| Nitric Acid | India | FOB | USD 254.54/MT | April 2026 |
| Nitric Acid | Japan | CIF | USD 246.54/MT | April 2026 |
| Nitric Acid | China | FOB | USD 205.85/MT | March 2026 |
| Nitric Acid | China | FOB | USD 212.00/MT | February 2026 |
| Nitric Acid | USA | FOB | USD 310.00/MT | February 2026 |
| Nitric Acid | Germany | FOB | USD 322.00/MT | February 2026 |
| Nitric Acid | India | FOB | USD 538.22/MT | February 2026 |
| Nitric Acid | Japan | CIF | USD 237.00/MT | February 2026 |
Stay updated with the latest Nitric Acid prices, historical data, and tailored regional analysis
- Global nitric acid prices moved on a softening trajectory in Q1’26, with Asia leading the decline amid ample supply conditions and subdued spot activity, while Western markets remained relatively balanced.
- Feedstock pressure weakened as liquid ammonia prices declined, reducing production costs and eroding price support across key producing regions.
- Downstream demand from fertilizers and chemicals remained stable but not strong enough to absorb excess supply, keeping sentiment largely bearish.
Asia
In China, nitric acid prices declined during Q1’26, with prices at ~1.55 RMB/kg (Spot FD) in January and ~1.48 RMB/kg in March, marking a ~4.17% decrease. The market faced persistent downward pressure due to ample supply availability and stable plant operating rates, which led to oversupply conditions. Additionally, falling liquid ammonia prices weakened cost support, directly impacting nitric acid pricing. Demand from downstream sectors such as ammonium nitrate, dyes, and intermediates remained subdued, with purchases largely order-based and no significant restocking activity observed.
In India, prices followed a similar trend, declining from ~37.85 INR/kg (Spot, 68%) in January to ~36.69 INR/kg in March, reflecting a ~3.07% decrease. The market was influenced by fertilizer sector uncertainties linked to geopolitical disruptions in West Asia, which impacted trade flows, increased freight and insurance risks, and delayed procurement cycles. India’s high dependence on fertilizer imports and LNG for ammonia production further exposed the market to cost-side volatility, while cautious inventory management limited aggressive buying.
Europe
In Europe, nitric acid prices remained relatively stable to soft during Q1’26. The market was balanced by moderate fertilizer demand and steady industrial consumption, particularly from ammonium nitrate and specialty chemicals. However, easing energy and ammonia costs reduced upward pressure, while sufficient regional supply prevented any sharp price increases. Trade flows remained stable, with no major supply disruptions reported.
North America
In North America, prices exhibited a stable to marginally soft trend, supported by consistent demand for fertilizers and explosives. However, adequate domestic production and improved ammonia availability limited price volatility. Downstream demand remained steady, but not strong enough to drive price increases amid balanced supply conditions.
Analyst Insight
According to Procurement Resource, in the near term, nitric acid prices are expected to remain under slight downward pressure, driven by sufficient supply and weak cost support, while demand recovery remains uncertain.
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| Product | Category | Region | Price | Last Updated Month |
| Nitric Acid | Chemicals | China | USD 200/MT | October 2025 |
| Nitric Acid | Chemicals | China | USD 231/MT | December 2025 |
| Nitric Acid | Chemicals | India | USD 449/MT | October 2025 |
| Nitric Acid | Chemicals | India | USD 461/MT | December 2025 |
Asia
In China, nitric acid markets experienced notable volatility during the fourth quarter. The prices were about 200 USD/MT (Spot FD) in October and around 231 USD/MT in December. The early phase demonstrated range-bound pricing for Nitric acid as market participants assessed feedstock ammonia availability, whereas prices rose as supply tightened and procurement activity intensified. Agricultural demand played a significant role in shaping market dynamics, with fertilizer manufacturers adjusting nitric acid procurement based on seasonal requirements for nitrogen fertilizer production.
Ammonium nitrate producers maintained moderate consumption to meet farmer demand for wheat, corn, and vegetable cultivation, though purchasing remained cautious due to agricultural economic pressures and crop price uncertainties.
Indian nitric acid markets displayed similar price patterns. The prices were about 449 USD/MT in October and around 461 USD/MT in December. Prices rose steadily, driven by firm feedstock costs and active downstream consumption, with upward momentum peaking mid-quarter as agricultural demand intensified for the rabi season.
Ammonium nitrate and calcium ammonium nitrate producers maintained regular procurement schedules to support fertilizer production for wheat, pulses, and oilseed cultivation. The latter quarter witnessed price moderation as supply conditions improved and downstream buying normalized following peak seasonal demand, with prices declining moderately though remaining above opening levels.
Europe
European nitric acid markets maintained a relatively stable pricing trend throughout the fourth quarter, as balanced supply conditions and subdued downstream demand limited significant price fluctuations. Supply remained sufficient, with manufacturers sustaining domestic output and utilizing ammonia inventories to offset minor feedstock disruptions.
Declining natural gas costs supported production economics, while fertilizer sector demand stayed cautious due to low wheat prices, which reduced agricultural purchasing activity, along with uncertainty surrounding Carbon Border Adjustment Mechanism compliance costs. Meanwhile, the construction sector demand remained weak amid ongoing financial constraints.
North America
North American nitric acid markets exhibited a stable price trend during the quarter, with steady supply meeting subdued demand across key sectors. Local production remained consistent despite temporary maintenance activities, as manufacturers utilized existing inventories and secured alternative feedstock volumes.
Fertilizer demand remained weak due to poor farm economics and tight credit conditions limiting grower purchasing activity, while construction sector demand showed moderate resilience, supported by ongoing infrastructure projects, though constrained by workforce challenges.
About Nitric Acid
Nitric acid, a pale straw to colourless liquid, is a compound containing the molecules of hydrogen, nitrogen and oxygen. It is strongly corrosive with an irritant odour. It is used in fertiliser and chemical manufacture. It serves as a powerful oxidising agent at higher concentrations.
Nitric Acid Product Detail
HNO3
Fertilisers, Oxidising agents, Textile industry, Metal nitrates and inorganic nitrate salts, Various organic intermediates, Plastics, Dyes, explosives, Metal cleaning, Woodworking
7697-37-2, Azotic acid, Hydrogen nitrate, Aqua fortis, Salpetersaeure
CF Fertilisers, The Chemical Company, Ube Industries, Ltd, The Chemours Company, LSB Industries
Regional Coverage
Asia Pacific
Europe
North America
Latin America
Africa
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
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.
Nitric Acid Production Processes
- Production of Nitric Acid from Ammonia
In order to produce Nitric Acid from ammonia, a process known as Ostwald’s process is utilised. In this process, high temperature oxidation of anhydrous ammonia is carried out in the presence of platinum or rhodium gauze to produce nitric oxide. The obtained product then reacts with oxygen to give nitrogen dioxide, followed by its reaction with water to finally produce nitric oxide and Nitric Acid.
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The report is a detailed study of economics of production of nitric acid by Ostwald’s Process. This process involves the high-temperature oxidation of anhydrous ammonia to nitric oxide in the presence of platinum or rhodium gauze.
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