Prices for US industrial oxygen moved up in December 2025 despite weak traditional demand from steelmakers and other consumers. US prices were underpinned however by broader demand in the US from health care, semiconductors, chemical processing and metal fabricators which supported overall oxygen consumption. The US industrial gas sector also stands to benefit from growth in high-purity oxygen and the increasing sprawl of industry into areas that require more oxygen to manufacture products. Rising raw materials costs particularly related to natural gas and energy tied to strong LNG export dynamics, resulted in higher costs of production for oxygen, supporting the price. Although steel demand is still comparatively weak and could prevent a strong advance, these opposite factors enabled a moderate increase in price, making clear the strength of the US oxygen market in a shifting economic environment.
