Ammonia price February 2024 and outlook (see chart below)

  • Global:US$0.66/KG, -2.9% down
  • North America:US$0.74/KG, -1.3% down
  • Europe:US$0.63/KG, -3.1% down
  • Africa:US$0.45/KG, unchanged
  • Northeast Asia:US$0.47/KG, -2.1% down
  • South America:US$0.66/KG, unchanged
  • Middle East:US$0.44/KG, -2.2% down
The chart below summarizes Ammonia price trend per region, as well as the outlook. It takes a moment to load.

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Ammonia price index

This post is a summary of the ammonia price developments. The price developments of ammonia are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Ammonia price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.

The outlook for ammonia prices, on the second tab, is generated from different inputs including:

  • Very recent price developments of immediate cost drivers of ammonia prices
  • Recent price developments of underlying feedstocks which drive the price of ammonia
  • Market futures for both cost drives and feedstocks of ammonia prices
  • Adjustment of current supply/demand imbalances in the ammonia market
  • Longer term trends in likely demand conditions

Further information on Ammonia price index

Here is some further information on Ammonia

 

What is Ammonia

Ammonia is a chemical compound with the chemical formula NH3. It is a colorless gas with a pungent, suffocating smell that is commonly used in a variety of industrial and commercial applications.

 

How is ammonia produced

Ammonia is produced through the Haber-Bosch process, which is a chemical reaction that involves the synthesis of ammonia from nitrogen gas and hydrogen gas. The reaction is typically carried out at high temperatures and pressures using a catalyst, such as iron or ruthenium, to promote the reaction.

 

What is ammonia used for

Ammonia, also known as nitrogen monohydride, is a chemical compound that is widely used in a variety of applications, including:

Industrial

Ammonia is used as a raw material in the production of a variety of chemicals, including fertilizers, plastics, and explosives. It is also used in the refining of petroleum products and the production of pharmaceuticals.

Refrigeration

Ammonia is used as a refrigerant in industrial refrigeration systems, due to its low boiling point and good thermal properties. It is also used in the production of refrigerators and air conditioners.

Agriculture

Ammonia is used as a fertilizer, as it is a source of nitrogen, which is an essential nutrient for plant growth. It is also used to make other fertilizers, such as urea and ammonium nitrate.

Cleaning

Ammonia is used as a cleaning agent, particularly in the food industry, due to its ability to dissolve grease and dirt. It is also used in the production of some cleaning products.

Other

Ammonia is also used in the production of explosives, dyes, and explosives, and is used as a gas in the production of silicon wafers for the electronics industry.

It is important to handle ammonia with care, as it is a strong irritant and can cause burns if it comes into contact with skin or mucous membranes. It should be used in a well-ventilated area and protective gear, such as gloves and goggles, should be worn when handling it.

 

Further reading

 

Trade information on Ammonia

According to https://oec.world/ :

Ammonia are the world’s 413th most traded product.

In 2020, the top exporters of Ammonia were Saudi Arabia ($2.09B), Russia ($1.02B), Trinidad and Tobago ($824M), Indonesia ($413M), and Canada ($397M).

In 2020, the top importers of Ammonia were India ($1.4B), United States ($781M), South Korea ($412M), Morocco ($328M), and Brazil ($322M).

According to a report by Mordor Intelligence, the global ammonia market is expected to reach a value of $78.5 billion by 2026, growing at a compound annual growth rate of 3.5% from 2021 to 2026. This growth is driven by increasing demand for ammonia in various industries, including agriculture, chemical, and energy. The report also notes that the Asia-Pacific region is expected to dominate the global ammonia market, due to the increasing demand for ammonia in the region and the availability of low-cost feedstock.

 

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