In the United States, disruptions in the supply chain and high freight costs resulting from Russia's continuing war with Ukraine boosted the price of bulk nitrogen in the American market. Bulk nitrogen prices climbed by approximately 2% in the United States.
The price rose significantly in the Chinese market during the first quarter of 2022 due to many production halts associated with the Beijing Winter Olympics. Nitrogen costs have been exacerbated by the increase in upstream natural gas and fuel prices.
The Indian market saw an increase in demand for bulk nitrogen as the planting season for Zaid crops approached (summer crops). The price increased owing to a shortage of fertilizers imported from China. Prices in India were estimated at 197 USD/MT in March.
The price rose astronomically in the European market as a result of increased demand from the downstream fertilizer sector. Due to the fact that high natural gas prices are a result of Russian oil and gas import prohibitions, they operate as a deterrent to Moscow's invasion of Ukraine, and hence bulk nitrogen costs are on the rise.
Numerous South American nations rely on European exports for fertilizers, which increased demand for nitrogen and contributed to an almost 3% increase in prices in Europe during Q1 2022.
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Procurement Resource provides prices of Nitrogen for several regions around the globe, which are as follows:
Nitrogen is the lightest element in Periodic Table Group 15, also known as the pnictogens. Two atoms of the element bind to form dinitrogen, a colourless and odourless diatomic gas, at a specific temperature and pressure. Dinitrogen constitutes approximately 78 percent of the Earth's atmosphere, making it the most widely uncombined element.
Under cryogenic conditions, nitrogen is produced by fractional distillation of liquid air using distillation columns. As a byproduct, oxygen is also produced.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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