Free Nitric Acid Price Trend and Forecast New York
- Location: New York, New York, NY, United States
In Q1 2022, Nitric Acid price in the North American region have kept the pricing trajectory upwards, particularly in the US. The prices of Nitric Acid in the United States have declined roughly about 8% in February. This steep rise was due to the soaring upstream Natural Gas and Coal prices and disrupted commodity supply chains due to western sanctions against Russia, which is the major exporter of feedstock Ammonia. The resultant sky-high fertilizer prices led to low consumption of Nitric Acid by farmers, which is the main negative factor in the regional market, along with a reduction in planting area across the US. During the winter slump, manufacturers felt little pressure to change their offers. So, the robust demand settled the price discussions at USD 380/MT for Nitric acid 98% FOB New York during March 2022.
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