Nitrites; Nitrates Price in China - 2023
Contents:
- Nitrites; Nitrates Price in China (FOB) - 2023
- Nitrites; Nitrates Price in China (CIF) - 2022
- Nitrites; Nitrates Exports in China
- Nitrites; Nitrates Imports in China
Nitrites; Nitrates Price in China (FOB) - 2023
In September 2023, the average nitrites; nitrates export price amounted to $509 per ton, with an increase of 2.6% against the previous month. Over the period under review, the export price, however, saw a slight decline. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 23% month-to-month. As a result, the export price reached the peak level of $755 per ton. From November 2022 to September 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($1,617 per ton), while the average price for exports to Spain ($205 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.
Nitrites; Nitrates Price in China (CIF) - 2022
The average nitrites; nitrates import price stood at $3,132 per ton in 2022, increasing by 7.4% against the previous year. In general, the import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 213% against the previous year. Over the period under review, average import prices reached the maximum at $5,189 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($11,545 per ton), while the price for Belarus ($653 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Exports in China
In 2022, nitrites; nitrates exports from China skyrocketed to 440K tons, rising by 30% against 2021. The total export volume increased at an average annual rate of +7.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, nitrites; nitrates exports surged to $257M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Nitrites; Nitrates in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 19.0 | 14.4 | 9.8 | 41.1 | 29.3% |
| Japan | 23.0 | 18.5 | 26.4 | 32.3 | 12.0% |
| Mexico | 9.9 | 9.3 | 13.5 | 25.3 | 36.7% |
| South Korea | 14.2 | 15.7 | 21.9 | 20.3 | 12.7% |
| Australia | 9.5 | 9.8 | 5.7 | 16.7 | 20.7% |
| Peru | 5.1 | 3.6 | 2.9 | 13.7 | 39.0% |
| United States | 7.4 | 8.3 | 3.1 | 9.7 | 9.4% |
| Malaysia | 7.2 | 8.9 | 11.7 | 8.5 | 5.7% |
| Indonesia | 4.8 | 5.5 | 6.6 | 7.7 | 17.1% |
| South Africa | 5.7 | 5.8 | 3.6 | 6.5 | 4.5% |
| Vietnam | 2.6 | 3.3 | 3.8 | 6.0 | 32.1% |
| Spain | 5.5 | 5.6 | 4.3 | 5.8 | 1.8% |
| Chile | 2.1 | 2.0 | 3.5 | 5.2 | 35.3% |
| Others | 65.9 | 54.5 | 42.5 | 57.8 | -4.3% |
| Total | 182 | 165 | 159 | 257 | 12.2% |
Top Export Markets for Nitrites; Nitrates from China in 2022:
- Mexico (73.7K tons)
- Peru (56.6K tons)
- India (48.8K tons)
- Malaysia (30.0K tons)
- Japan (27.4K tons)
- South Korea (23.1K tons)
- Australia (20.8K tons)
- Spain (16.5K tons)
- Chile (13.6K tons)
- United States (13.3K tons)
- South Africa (12.9K tons)
- Vietnam (9.3K tons)
- Indonesia (9.1K tons)
Nitrites; Nitrates Imports in China
In 2022, approx. 5.2K tons of nitrites; nitrateses were imported into China; increasing by 17% on the year before. Overall, imports showed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 69% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, nitrites; nitrates imports surged to $16M in 2022. In general, total imports indicated a moderate increase from 2019 to 2022: its value increased at an average annual rate of +2.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 45%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Nitrites; Nitrates in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 9.0 | 2.6 | 4.3 | 4.7 | -19.5% |
| Belgium | 0.1 | 0.5 | 2.9 | 2.6 | 196.2% |
| Japan | 1.8 | 2.4 | 2.2 | 2.5 | 11.6% |
| Belarus | N/A | N/A | 0.8 | 1.8 | 125.0% |
| United Kingdom | 0.1 | 0.2 | 0.3 | 0.3 | 44.2% |
| Germany | 1.4 | 1.3 | 0.3 | 0.3 | -40.2% |
| India | 0.6 | 0.4 | 0.1 | 0.1 | -45.0% |
| Spain | 0.4 | 0.5 | 0.8 | 0.1 | -37.0% |
| Russia | 0.1 | 0.1 | 0.2 | N/A | 41.4% |
| South Korea | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| Poland | N/A | 0.1 | N/A | N/A | 0% |
| Taiwan (Chinese) | 0.5 | N/A | N/A | N/A | 0% |
| Others | 0.6 | 0.7 | 1.1 | 3.6 | 81.7% |
| Total | 14.9 | 8.9 | 12.9 | 16.1 | 2.6% |
Top Suppliers of Nitrites; Nitrates to China in 2022:
- Belarus (2780.1 tons)
- Belgium (581.5 tons)
- United States (406.4 tons)
- Japan (231.9 tons)
- United Kingdom (159.1 tons)
- Spain (78.5 tons)
- Russia (66.4 tons)
- Germany (40.7 tons)
- India (28.6 tons)
- Poland (22.5 tons)
- South Korea (21.3 tons)
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This report provides an in-depth analysis of the global nitrites market.
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This report provides an in-depth analysis of the nitrites market in China.
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