Nitric Acid Price Trend Q3 2025
In Q3 2025 the Nitric Acid market has exhibited a continued downward trajectory, registering a 7% decline from the previous quarter, as muted demand from fertilizer blenders and industrial chemical consumers persisted across major Asian regions. The sector has been operating under sustained pressure due to restrained procurement activity and cautious purchasing strategies from downstream segments.
Feedstock Ammonia prices have remained relatively steady, providing limited cost support for producers amid weaker market fundamentals. Operating rates at several facilities have been moderately curtailed to manage inventory build-ups in the face of sluggish off take. Export appetite has remained modest, with regional buyers delaying bookings amid sufficient availability and competitive offers.
Despite stable upstream dynamics, overall sentiment has trended bearish, weighed down by ample supply, thinning margins, and reduced transactional interest. The Nitric Acid market has largely maintained a subdued tone through the quarter, reflecting conservative buying behaviour and an oversupplied environment.
India: Niric Acid Domestically Traded prices Ex Gujrat, India; Grade- Nitric Acid 68%
In Q3 2025 the Nitric Acid market in India has been experiencing a gradual softening, with prices averaging around USD 270 /MT, reflecting a 11% decline compared to the previous quarter. Demand sentiment from downstream fertilizer, dyes, and explosives manufacturers has remained moderate, as buyers continued to follow cautious procurement strategies amid steady plant operating schedules.
Consumption in the agrochemical and nitration-based chemical segments has been stable but insufficient to lift overall market momentum, resulting in balanced yet slightly pressured trading conditions. Producers have been maintaining controlled production rates to avoid inventory build-ups as market fundamentals evolved through the quarter.
Feedstock Ammonia values have stayed largely range-bound, offering neutral cost influence for nitric acid manufacturers. Export activity has been limited, with only selective inquiries emerging from neighbouring South Asian markets. In September 2025, domestic nitric acid prices registered a mild dip of around 2%, driven by weaker restocking interest and competitive offers in key trading hubs. Overall, the market has retained a restrained tone, supported by adequate supply, disciplined operations, and steady but subdued participation from downstream consumers.
Saudi Arabia: Nitric Acid Imported Prices CIF Saudi Arabia, India; Grade – Nitric Acid 68%
In Saudi Arabia, the Nitric Acid 68% price trend CIF Saudi ports offered from India has been witnessing a notable decline of around 7% during Q3 2025, continuing the downward trajectory observed toward the end of Q2. Throughout the quarter, the market reflected steady yet slightly pressured trading conditions, as demand from key downstream sectors including fertilizers, industrial chemicals, metal treatment, and water purification remained moderate. Order inflows from distributors and end-users have remained cautious, driven by conservative procurement patterns and comfortable availability in the regional market.
The persistent weakness in prices has been influenced by stable Ammonia feedstock costs in India, balanced production rates among major nitric acid suppliers, and subdued restocking interest from importers in the Gulf region. Expectations of improved demand post-holiday periods did not materialize, keeping overall sentiment neutral to mildly bearish.
In September 2025, Nitric Acid 68% prices delivered to Saudi Arabia recorded a further month-on-month decline of roughly 2%, supported by competitive export offers from India, gradual inventory adjustments, and restrained purchasing activities across key industrial hubs.
Kenya: Nitric Acid Imported Prices CIF Mombasa, India; Grade – Nitric Acid 68%
In Kenya, the Nitric Acid 68% price trend CIF Mombasa offered from India has been witnessing a moderate decline of around 3% during Q3 2025, following the mild downward movement observed toward the end of Q2. Throughout the quarter, the market reflected steady yet slightly pressured trading conditions, as demand from fertilizer blending units, mining-related chemical users, textile processors, and water treatment operators remained stable but unsupportive of firmer pricing.
Order inflows from importers and industrial buyers have been cautious, influenced by conservative procurement strategies and consistent product availability across the regional market. The persistent softness in prices has been shaped by steady Ammonia feedstock costs in India, balanced production levels among major nitric acid manufacturers, and subdued restocking appetite from Kenyan buyers.
Expectations of improved demand after seasonal business cycles did not materialize, keeping overall sentiment neutral to mildly bearish. In September 2025, Nitric Acid 68% prices delivered to Mombasa registered a further month-on-month decline of nearly 1%, supported by competitive export offers from India, gradual inventory adjustments, and restrained purchasing activities across Kenya’s key industrial segments.
South Korea: Nitric Acid Export Prices FOB Busan, South Korea; Grade – Nitric Acid 68%
In South Korea, the Nitric Acid 68% price trend FOB Busan has been witnessing a mild decline of around 2% during Q3 2025, continuing the soft movement observed toward the end of Q2. Throughout the quarter, the market reflected steady yet slightly pressured export conditions, as demand from overseas buyers in Southeast Asia, the Middle East, and Africa remained moderate. Order inflows from traders and industrial consumers have been cautious, shaped by conservative procurement strategies and adequate availability across major importing regions.
The persistent weakness in pricing has been influenced by stable Ammonia feedstock costs, balanced operating rates among Korean nitric acid manufacturers, and restrained restocking interest from key export destinations. Expectations of firmer demand following seasonal maintenance periods did not materialize, keeping overall sentiment neutral to mildly bearish.
In September 2025, Nitric Acid 68% prices offered from Busan recorded a further month-on-month decline of around 2%, supported by competitive Korean export offers, controlled inventory positions, and subdued purchasing activity across primary regional markets.
China: Nitric Acid Domestically Traded Prices Ex-Works Shanghai, China; Grade – Nitric Acid 98%
In China, the Nitric Acid 98% price trend Ex-Works Shanghai has been witnessing a mild decline of around 2% during Q3 2025, continuing the soft movement observed toward the end of Q2. Throughout the quarter, the market reflected steady yet slightly pressured trading conditions, as demand from key downstream segments including metal finishing, specialty chemicals, electronics-grade processing, and nitration applications remained moderate. Order inflows from domestic distributors and industrial buyers have been somewhat cautious, driven by conservative procurement patterns and comfortable availability across major producing hubs.
The persistent weakness in pricing has been influenced by stable Ammonia feedstock costs, balanced operating rates within the Chinese nitric acid sector, and limited restocking momentum from end-users. Expectations of improved consumption following seasonal industrial activity did not materialize, keeping overall sentiment neutral to mildly bearish.
In September 2025, Nitric Acid 98% prices Ex-Works Shanghai held stable on a month-on-month basis, supported by controlled production, steady inventory positions, and restrained purchasing behaviour across the domestic market.
Belgium: Nitric Acid Export Prices FOB Antwerp, Belgium; Grade – Nitric Acid 68%
In Belgium, the Nitric Acid 68% price trend FOB Antwerp has been witnessing a noticeable decline of around 5% during Q3 2025, extending the downward trajectory observed toward the end of Q2. Throughout the quarter, the market reflected steady yet slightly pressured export conditions, as demand from key downstream sectors including fertilizers, industrial chemicals, explosives intermediates, and metal treatment remained moderate across European and global markets. Order inflows from traders and overseas buyers have stayed cautious, influenced by conservative procurement behaviour and adequate product availability from major European producers.
The persistent softness in prices has been shaped by relatively stable Ammonia feedstock costs, balanced operating rates among nitric acid manufacturers in the region, and subdued restocking sentiment from import-dependent markets. Expectations of improved demand following summer slowdowns did not materialize, keeping overall pricing sentiment neutral to mildly bearish.
In September 2025, Nitric Acid 68% prices offered FOB Antwerp registered a further month-on-month decline of nearly 2%, supported by competitive export offers, disciplined inventory management, and restrained purchasing activities across major destination markets.
Germany: Nitric Acid Domestically Delivered Prices FD Hamburg, Germany; Grade – Nitric Acid 68%.
In Germany, the Nitric Acid 68% price trend FD Hamburg has been witnessing a mild decline of around 3% during Q3 2025, continuing the subdued movement observed toward the end of Q2. Throughout the quarter, the market reflected steady yet slightly pressured trading conditions, as demand from key downstream sectors including fertilizers, industrial chemicals, metal treatment, and specialty manufacturing remained moderate.
Order inflows from distributors and end-users have stayed cautious, influenced by conservative procurement behaviour and comfortable domestic availability across major industrial hubs. The persistent softness in prices has been shaped by stable Ammonia feedstock costs, balanced production rates among European nitric acid suppliers, and limited restocking sentiment within the local market. Expectations of firmer demand following the summer slowdown did not materialize, keeping overall sentiment neutral to mildly bearish.
In September 2025, Nitric Acid 68% prices delivered FD Hamburg recorded a month-on-month increase of nearly 2%, supported by slightly tighter supply conditions, firmer regional inquiries, and incremental improvements in purchasing activity across the German chemical sector.