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The market value of sodium nitrate in the US has decreased through late February of **** as ample supply and muted cost have removed the upward pressure from the market. The early-Feb strength gave way to mid-month consolidation as some of the sodium nitrate buyers have adopted a wait-and-watch stance and by late February the spot activity declined which resulted in decrease in sodium nitrate offers. The logistics in February was shelled from the ongoing Middle East volatility, but the recent federal guidance on import duties have introduced a layer of policy risk that sodium nitrate market participants are factoring into their current sourcing decisions. The sodium nitrate itself is not directly affected by the ongoing crude oil fluctuations, but with the rising energy prices amid Middle East tensions, the stakeholders of sodium nitrate market have started to monitor the impact on nitric acid production...
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