Nitrogen Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Nitrogen in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Nitrogen Price Trend for the July-September of 2023

Asia

The nitrogen prices in the Asian region exhibited steady market sentiments during the third quarter of the year 2023. The plateaued nature of the nitrogen price graph showed the healthy dynamics between supply and demand outlooks of the third quarter. Since the Chinese markets started opening up and reviving after the removal of COVID-19 restrictions, the pace of recovery has been under question.

Nitrogen Price Chart

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Imitating that momentum, the nitrogen demands from the pharma and chemical industries also remained confined within a limited range. The inventories registered a slow but consistent stock movement. So, with a regular and equalized influx of supplies complimented by a similar demand outlook, the nitrogen price pattern turned out to be oscillating within a narrow range. Overall, stability was experienced in the nitrogen market during the said period.

Europe

Contrary to the stable market run of the Asian market, the European nitrogen market fell consistently throughout the given span. The upstream costs slid in the European region after the economic inflation backtracked a little. The demands from the downstream consumption industries remained dull throughout; this created a surplus volume for suppliers to manage, and thus, the suppliers were forced to cut down the prices in order to promote purchases. Overall, dipping trend were observed in the nitrogen market during the said period.

North America

The North American nitrogen market experienced a mixed market run compared to the other global markets. Since the prices followed downstream demands, the first half of the quarter saw some elevation, whereas the second half of the quarter witnessed a gradual decline. The general market outlook was fluctuating throughout the said time.

Analyst Insight

According to Procurement Resource, Nitrogen prices are likely to remain fluctuating going forward as well. The market demands are going to continue to drive the market sentiments.

Nitrogen Price Trend for First Half of 2023

Asia

In the first quarter of 2023, the prices of nitrogen oscillated owing to the declining cost of energy production, scarcity of nitrogen in the region, and several ups and downs in the downstream market. However, the market activities of the downstream industries improved in the second quarter, especially that of the tire and agricultural industries. The purchasing potential of buyers also inclined in this quarter, and the relaxed subsidy offered by the Indian government pushed the price trend of nitrogen to an inclined path.

Europe

In the first quarter of 2023, the price trend of nitrogen surged significantly in the European markets after some challenging initial months. The major cause of this incline was the rising demand for nitrogen from the food and packaging industries and the positive market momentum in European countries.

The rates of production also increase severalfold due to high rates of procurement. However, the second quarter witnessed the opposite movement of prices as the number of new orders declined significantly. The feedstock market was also affected by the high cost of energy production. In addition to this, the fertilizer industries struggled with several restrictions in this quarter, and the economic conditions also did not support the positive movement of the nitrogen price trend.

North America

The nitrogen prices in North America declined throughout the first and second quarters of 2023 due to the feeble movement of downstream industries. The low cost of energy production, high levels of inventories, and sliding activities of the nitrogen industries caused the price trend of nitrogen to fall throughout this time period.

Analyst Insight

According to Procurement Resource, the price trend of Nitrogen is expected to show a mixed trajectory. The demand from downstream industries and global economic conditions are estimated to dictate nitrogen prices.

Procurement Resource provides latest prices of Nitrogen. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.