For the Quarter Ending June 2025
North America
• The Ammonia Spot Price in North America declined consistently throughout Q2 2025, falling from USD 435/MT in April to USD 404/MT by June, marking a quarter-over-quarter drop of approximately 7.1%.
• This downward trend was primarily attributed to seasonal demand softening from the agricultural sector as the spring planting season concluded.
• Despite rising natural gas prices—Ammonia’s key feedstock—the impact on Ammonia pricing remained muted, with inventories sufficiently meeting reduced demand.
• Stable domestic production, strong operational run-rates from major producers (CF Industries, Nutrien), and resumed activity at Yara’s Tringen II facility contributed to a well-supplied market.
• FOB prices held steady toward late May, supported by robust supply fundamentals and uninterrupted logistics across pipelines and ports.
• CFR prices showed a sharper decline, driven by diminished import demand and ample contract-based inventories, especially under Yara’s Tampa benchmarks.
• Mild international demand, particularly from Brazil, and cautious procurement behavior among U.S. buyers also contributed to price moderation.
• In June 2025, a major heatwave across the U.S.—especially in Texas, the Midwest, and California—strained power grids, disrupting output at several energy-intensive ammonia plants.
• This led to reduced production rates and localized supply shortages, aggravating market tightness.
• However, recovery of Yara’s Tringen II plant and proactive inventory buildup by key players (e.g., Mosaic, Eco Oracle) helped stabilize overall availability.
• Despite short-term risks, no major systemic outages occurred outside the Gulf region, cushioning the broader market from severe disruptions.
• Agricultural demand declined in June as the corn planting season concluded, with over 80% of the crop planted by mid-May.
• Heavy rainfall in April and May delayed some ammonia application, compressing the window for fertilizer use and pushing buyers into a wait-and-see mode.
• Construction and mining sectors maintained baseline demand, but seasonal agricultural weakness dominated, keeping overall demand subdued.
Why did the price of Ammonia change in July 2025 in the US?
• In July 2025, the Ammonia Price Index in North America registered a moderate increase of USD 10/MT on an FOB basis, while CFR prices remained stable.
• The primary price driver was constrained supply amid ongoing tight market conditions, particularly in the U.S., where refilling activity intensified.
• A production outage at the Gulf Coast Ammonia (GCA) plant continued into July, tightening regional availability.
• Although natural gas prices declined, the cost relief had limited immediate influence on ammonia pricing.
• Stable inflows from Trinidad helped maintain CFR balance, but rumors of gas curtailments in August raised concerns about future supply security.
• The Ammonia Price Forecast suggests potential price volatility in the coming months if anticipated Trinidad curtailments materialize.
APAC
• The Ammonia Spot Price in the Asia-Pacific region fell by 4.4% quarter-over-quarter in Q2 2025, from USD 344/MT in April to USD 329/MT in June, with the lowest point recorded in May at USD 328/MT.
• This decline was driven by muted downstream demand, particularly in industrial and fertilizer sectors, and abundant inventory positions held by traders.
• Despite elevated freight rates during the quarter, price pressure remained limited due to balanced supply from key exporters like Indonesia, Qatar, and Oman.
• Stable logistical operations and contract-based procurement strategies prevented major supply shocks, contributing to a largely steady price environment.
• By late June, just-in-time purchasing behavior dominated the market as the regional peanut and rice planting seasons neared conclusion.
• Prices began showing signs of firming as supply tightened slightly due to emerging port congestion and continued freight cost escalation.
• Future demand growth may be supported by regional decarbonization strategies, but current offtake remains concentrated in seasonal fertilizer use.
Why did the price of Ammonia change in July 2025 in Asia?
• In early July 2025, the Ammonia Price Index in Singapore rose, marking a reversal from the largely flat pricing trend observed in June.
• The main factor behind this increase was the sharp rise in intra-Asia freight costs, which pushed up landed costs for imported cargoes.
• Simultaneously, firm agricultural demand—driven by active planting of rice and peanuts and supported by regional fertilizer subsidies—provided a solid consumption base.
• On the supply side, persistent port congestion at Singapore hindered timely cargo inflows, delaying replenishment and tightening inventories.
• These conditions created a widening supply-demand imbalance, placing upward pressure on spot prices.
Europe
• The Ammonia Spot Price in Europe fell sharply throughout Q2 2025, declining from USD 514/MT in April to USD 441/MT in June—a quarter-over-quarter drop of 14.2%.
• This downtrend was driven by soft seasonal demand, ample inventories, and improved supply flows from major exporters such as Trinidad and Algeria.
• Despite port congestion and prior production disruptions, proactive inventory management and resumption of domestic operations (e.g., SKW Piesteritz) ensured stable market availability.
• Weaker international benchmark prices and subdued spot trading further accelerated price corrections during May and June.
• Limited agricultural activity between sowing and harvest seasons contributed to a demand lull, reinforcing the bearish market sentiment.
• While supply-side risks from North Africa and Trinidad persist, current fundamentals remain balanced, keeping prices under pressure.
• Throughout Q2 2025, European ammonia inventories remained sufficient, supported by strong imports from Trinidad, Qatar, and Algeria.
• Improved port logistics and a May import lineup of approximately 415,000 MT allowed for smooth replenishment across European terminals.
• SKW Piesteritz in Germany resumed operations after prior downtime, reinforcing domestic availability alongside imports.
• While concerns over natural gas constraints in Trinidad and lower North African export volumes remain, they have yet to significantly impact current supply.
• Market participants have proactively managed logistics and inventory planning, avoiding major disruptions despite external headwinds.
Why did the price of Ammonia change in July 2025 in Europe?
• During early July 2025, imported Ammonia prices in Germany remained stable, pausing the sharp declines of previous months.
• Steady supply from key exporters, especially Trinidad, helped maintain equilibrium, though the market remains vigilant over potential gas curtailments forecasted for August.
• On the demand side, the nitrates sector continues to provide baseline support, even as broader fertilizer demand remains muted due to ongoing harvest operations.
• No major price movements were observed, with the market maintaining a watchful stance as upstream and geopolitical developments evolve.
South America
• Ammonia prices in Brazil trended downward early in Q2 2025, falling from USD 420/MT in April to USD 388/MT in May, before rebounding to USD 400/MT in June.
• This pricing volatility reflects shifts in global supply chain pressures, freight rate fluctuations, and localized demand seasonality.
• Proactive inventory buildup and diversified sourcing—particularly from Trinidad and the Middle East—shielded Brazil from major supply shocks, despite geopolitical disruptions.
• Subdued domestic demand, due to seasonal agricultural lulls and adverse weather, limited upward price momentum even amid rising global offers.
• Freight-driven cost increases and logistical constraints later in the quarter led to a mild recovery in import prices, despite flat domestic consumption.
• Looking forward, market sentiment remains cautiously bullish as importers eye forward cargoes ahead of the upcoming planting season.
• The completion of the coffee harvest and slower agricultural activity led to reduced urgency in fertilizer procurement.
• Weather-related disruptions—including cold spells and storms—added further uncertainty, delaying planting preparations and dampening buyer enthusiasm.
• Rising global offers—partly due to India’s bullish tender activity—were viewed as unaffordable relative to local demand sentiment, prompting Brazilian importers to defer bulk purchases.
• Still, some forward-buying interest emerged late in the quarter as market participants prepared for the upcoming corn season, signaling potential Q3 recovery in offtake.
Why did the price of Ammonia change in July 2025 in South America?
• In July 2025, imported Ammonia prices in Brazil remained largely stable, underpinned by a well-balanced supply-demand environment.
• Brazil’s strong port infrastructure, advance procurement strategies, and diverse supplier base helped neutralize external shocks, including global price pressures.
• Despite tightness in other regions, Brazil’s insulation from volatility enabled producers to maintain steady procurement schedules.
• Stability in July provided a favorable setup for fertilizer producers preparing for the next crop cycle, with many maintaining current inventory levels without aggressive spot purchases.
Middle East
• Ammonia prices in the Middle East held stable through Q2 2025, before trending upward in July due to tightening global supply and shifting trade flows.
• Stable regional production and reliable logistics kept prices flat from April through June, despite natural gas cost increases and spot market volatility globally.
• However, July marked the beginning of price escalation as North African exports dried up and major regional producers, like Saudi Arabia and Iran, redirected volumes to India.
• The UAE—despite proximity to Gulf suppliers—is facing tighter availability and rising landed costs as Asian demand absorbs more regional supply.
• While long-term contracts and domestic production buffered earlier volatility, rising competition and redirected trade flows now pressure the UAE’s import pricing.
• From April through June, the UAE enjoyed strong domestic production, supported by consistent feedstock from ADNOC and stable plant operations.
• Inventories at Ruwais and Jebel Ali remained healthy, and Saudi imports ensured no major shortfalls despite regional tensions and Red Sea risks.
• Domestic consumers, though not expanding their Ammonia use significantly, are now competing in a tighter market with higher global bids and less regional supply.
Why did the price of Ammonia change in July 2025 in the Middle East?
• In July 2025, UAE Ammonia prices rose due to tightening global supply, rising competition from Asia, and redirection of cargoes to high-bid markets.
• Egypt’s pivot to urea and prolonged export outages from North Africa removed a key supply channel for Gulf countries.
• Producers like Ma’aden and Iranian exporters prioritized Indian demand, pulling material away from the UAE despite geographic proximity.
• With limited spot availability and domestic production maxed out, UAE buyers faced higher offers, extended lead times, and growing concerns over supply security.
• As import prices climb, local stakeholders are being forced to reassess procurement strategies amid high volatility and constrained trade flows.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American Ammonia market experienced a modest decline in prices, influenced by a combination of adequate supply and subdued demand. Sufficient availability of both domestically produced and imported Ammonia, supported by earlier stockpiling efforts, helped maintain balanced inventories across the region.
On the demand side, purchasing activity remained muted, primarily due to adverse winter weather conditions that hindered transportation and discouraged buyers from building inventory. Many market participants adopted a wait-and-see approach, delaying procurement until weather patterns stabilized. Despite intermittent trade disruptions, the market remained well-supplied, as previous inventory buildup helped mitigate potential shortfalls.
Adding to the market's complexity, the U.S. government announced plans to implement a 10% tariff on Ammonia imports from Trinidad and Tobago, one of the country’s key suppliers. This policy moves introduced uncertainty into the import supply chain, prompting concerns over future cost implications and potential shifts in sourcing strategies. Overall, the quarter was marked by stable supply conditions and cautious market sentiment.
APAC
The Asian Ammonia market exhibited price volatility during Q1 2025, with China experiencing the most notable fluctuations. In the early part of the quarter, Chinese Ammonia prices witnessed a modest decline, primarily due to improved supply conditions. Production gradually recovered as several domestic manufacturers resumed operations following scheduled maintenance shutdowns, leading to higher operating rates and increased Ammonia availability. This supply expansion, however, was met with weak demand, particularly from key downstream sectors such as fertilizers and chemicals, resulting in excess inventory and downward price pressure. Toward the end of the quarter, prices in China rebounded, driven by a rise in restocking activity from domestic consumers amid growing demand for downstream derivatives, especially urea, ahead of the spring application season. In contrast, importing countries in Asia, such as Japan, recorded a consistent decline in Ammonia prices throughout the quarter. This trend was largely supported by reduced freight costs, which eased overall import expenses and contributed to sustained downward pressure on prices.
European
The European Ammonia market witnessed a modest decline in prices throughout Q1 2025, with Germany and the Netherlands among the most affected markets. This downward trend was primarily driven by a narrowing gap between supply and demand. During the quarter, the region saw a steady inflow of cargoes from key exporting countries, particularly Trinidad and Tobago. Despite facing natural gas curtailments, Trinidad and Tobago prioritized fulfilling prior export commitments, enabling European buyers to access Ammonia at relatively lower costs. These competitive imports further pressured domestic prices. On the demand front, purchasing activity remained subdued. Although the planting season was underway, dry weather across parts of Europe led farmers to delay the second round of nitrogen fertilizer applications in anticipation of rainfall. Additionally, winter wheat emerged from dormancy earlier than usual due to unseasonably warm and dry conditions, exacerbating soil moisture deficits and raising concerns about crop health and yield outcomes. These agronomic challenges dampened immediate fertilizer demand, reinforcing the overall softness in Ammonia prices during the quarter.
South America
During Q1 2025, the South American Ammonia market experienced a modest decline in prices, primarily due to a balanced supply-demand environment. The region benefited from a consistent inflow of cargoes from major exporting countries, notably Trinidad and Tobago. Despite facing natural gas constraints, Trinidad and Tobago continued to honor existing export commitments, ensuring uninterrupted shipments to South America. These competitive imports placed downward pressure on domestic Ammonia prices by increasing availability across key consuming regions. On the demand side, market activity remained muted as fertilizer requirements for the current planting cycle were largely met early in the quarter. This resulted in limited spot market activity, with buyers showing little interest in additional purchases. Most stakeholders focused on fulfilling long-term contractual obligations rather than engaging in new transactions. Additionally, favorable weather conditions and efficient distribution helped streamline fertilizer applications, further reducing the urgency for spot procurement. Overall, the quarter reflected a stable yet bearish pricing trend, shaped by sufficient supply and restrained short-term demand dynamics.
Middle East
The Middle Eastern Ammonia market witnessed a bearish price trend throughout Q1 2025, largely influenced by balanced supply-demand fundamentals. Despite fluctuations in natural gas prices—the key feedstock for ammonia production—its impact on market pricing was limited during the quarter. Ammonia supply remained ample, supported by consistently high operating rates across major regional production facilities. Furthermore, a forthcoming wave of shipments directed toward Western markets is expected to exacerbate the oversupply scenario, intensifying downward pressure on prices. On the demand side, the market exhibited restrained activity as producers largely focused on fulfilling existing contractual obligations, with minimal engagement in spot market transactions. This subdued buying interest further weakened the pricing environment, as the lack of robust spot demand offered little support to offset the abundant supply. Overall, the quarter reflected a stable but softening market outlook, shaped by sustained production levels, limited spot trade activity, and a cautious buyer approach, which together contributed to the modest decline in Ammonia prices across the Middle Eastern region.
For the Quarter Ending December 2024
North America
The North American Ammonia prices experienced a significant surge in 2024, with quarter-end prices at New Orleans port reaching USD 588/MT on a month-on-month basis. This sharp increase was driven by several key factors, most notably the volatility in feedstock Natural Gas prices and a shortage of imported Ammonia in the region. Trinidad & Tobago, a major Ammonia exporter to the U.S., faced gas curtailments and reduced production, leading to a sharp decline in export volumes.
Compounding the supply challenges, severe storms in the southeastern United States disrupted production capabilities, particularly in northern Georgia and the southern Appalachian regions. Additionally, persistent logistical bottlenecks in Canada, exacerbated by an ongoing labor strike, caused significant shipment delays. Labor disputes at critical ports, including the Port of Montreal, further extended delivery times, intensifying the shortage of Ammonia in North America.
On the demand side, periodic restocking activities were observed to fulfill requirements from fertilizer and industrial sectors, sustaining steady consumption despite supply constraints.
Asia- Pacific
Asian Ammonia prices exhibited pronounced volatility throughout the final quarter of 2024. Prices escalated during the initial two months, driven by robust international demand, particularly from India, which placed significant pressure on regional supply levels. In China, logistical challenges such as severe port congestion at Shanghai and Ningbo, coupled with heavy rainfall and rising freight costs, further exacerbated the price surge. Supply chain disruptions were intensified by vessel bunching and prolonged waiting times, compounding market tightness. Adverse weather conditions across the southern Asia-Pacific region, including typhoons in China and Japan, led to substantial production disruptions. Excessive rainfall forced several manufacturing facilities to declare force majeure, resulting in reduced production output and a notable Ammonia shortage in the region. Despite these challenges, prices declined toward the end of the quarter due to subdued year-end purchasing activities. India, a key fertilizer consumer, had fulfilled most of its requirements through contractual tenders, leaving minimal spot market demand. This drops in purchasing activity eased price pressures, stabilizing the market.
Europe
European Ammonia prices experienced a significant surge in 2024, with Russia and the Netherlands among the most affected regions. This sharp price increase was driven primarily by the volatility in feedstock Natural Gas prices and a shortage of imported Ammonia within the European market. Trinidad & Tobago, a key Ammonia supplier to Europe, faced gas curtailments and reduced production levels, resulting in a substantial decline in export volumes and heightened supply challenges. Compounding these issues was an operational disruption at Algeria’s Fertial plant, a crucial Ammonia production facility and a key supplier to the Dutch market. This unexpected disruption left a supply gap, pushing traders to the spot market in search of alternative cargoes. The increased reliance on the spot market significantly raised prices across the region. Despite these supply constraints, periodic restocking activities were observed to meet steady demand from fertilizer and industrial sectors. These efforts sustained consumption levels, intensifying pressure on Ammonia prices and amplifying market tightness across Europe.
South America
South American Ammonia prices saw a significant uptick during the final quarter of 2024, with quarter-end prices at São Paulo port reaching USD 536/MT on a month-on-month basis. This surge was driven by a combination of volatile freight charges, reduced availability of imported material, and steady yet moderate demand from downstream markets. Trinidad & Tobago, a major supplier to South America, faced gas curtailments and production reductions, leading to a sharp decline in export volumes and exacerbating supply constraints. Logistical bottlenecks in Canada, aggravated by an ongoing labor strike, further disrupted shipments. Labor disputes at critical ports, including the Port of Montreal, extended delivery times, intensifying Ammonia shortages from North America to South America. On the demand side, the sowing of spring-planted crops began in the primary production region of the South under generally favorable conditions. However, El Niño conditions are expected to result in drier-than-normal weather, prompting farmers to anticipate a reduction in the total sown area, reflecting caution over potential impacts on crop yields.
MEA
The price of Middle Eastern Ammonia exhibited volatility during Q4 2024, with notable price increases observed in the first two months of the quarter. This surge was driven by volatile freight charges, reduced availability of imported material, and steady yet moderate downstream demand. Maintenance activities at Ma’aden, both planned and unplanned, significantly impacted export availability, reducing output by approximately 96,000 tons. This prompted a revision of the company’s 2024 production target to 3.0–3.2 million tons, down from the previous forecast of 3.2–3.4 million tons. This adjustment, reflecting a 6% supply decline, underscored the impact of these disruptions on Ammonia availability across domestic and export markets. Firm demand from key importing markets, particularly India, further supported the need for sustained exports. Major producers in Saudi Arabia, including Sabic Agri-Nutrients and Ma’aden, were projected to load a combined 250,000 tonnes during the quarter’s initial months. However, prices declined towards the quarter's end as subdued year-end purchasing activities eased market pressure. India, having secured most of its fertilizer needs via contractual tenders, contributed to the reduced spot demand, stabilizing prices.
For the Quarter Ending September 2024
North America
The third quarter of 2024 witnessed a notable increase in North American Ammonia prices, driven by several key factors. Supply constraints emerged as a result of production cuts at multiple ammonia plants, compounded by adverse weather conditions that disrupted logistics and transportation networks.
In August 2024, a critical shortage became evident in the North American market, primarily due to reduced production rates in Trinidad, a major exporter of Ammonia to the United States. Ongoing natural gas supply issues in Trinidad led to delayed and diminished exports, which further strained Ammonia stocks in the region. As the quarter progressed, the North American fertilizer industry adopted a cautious stance due to persistent adverse weather, including hurricanes and thunderstorms. Although Hurricane Francine impacted southern Louisiana, market reports suggest that most of the state’s fertilizer sector managed to endure the storm’s effects without significant disruption. Nevertheless, the industry remained on alert as another tropical storm was anticipated, raising concerns about further disruptions.
By the end of the quarter, the price of Anhydrous Ammonia stood at USD 490/MT CFR Tampa in the USA, underscoring the consistent upward trajectory in pricing throughout the period.
Asia
The Asian Ammonia market exhibited a mixed trend during the third quarter of 2024. Prices declined during the first two months of the quarter, with China being the most significantly affected. Persistent port congestion within the region led to inventory buildups, as vessels faced extended waiting times—up to four days at Shanghai, two days at Qingdao, and three days at Port Klang. This ship bunching, a lingering effect of earlier port disruptions, has severely impacted the supply chain, contributing to the accumulation of ammonia stocks. Combined with subdued demand due to the end of planting season activities, these factors drove prices down. However, in the final month of the quarter, prices surged due to adverse weather conditions that disrupted logistics and transportation networks. Typhoon Yagi, the strongest storm to hit Asia in 2024, struck China’s Hainan province, bringing torrential rains and winds of up to 234 km per hour. The typhoon caused widespread damage, resulting in extensive power outages and significant disruptions to daily life. These conditions further strained transportation infrastructure and power supplies, exacerbating production challenges for key industrial sectors, including Ammonia manufacturing. Additionally, preparations for winter planting began to pick up, boosting demand. By the end of the quarter, the price of Aqueous Ammonia FOB Qingdao in China rose to USD 415/MT, reflecting a renewed upward trend in the market.
Europe
During Q3, the European Ammonia market experienced a significant surge, particularly in Russia, the Netherlands, and the United Kingdom. This increase in prices was mainly attributed to a shortage of raw materials in the European market. The shortage stemmed from Ukraine’s incursion into Russia’s Kursk region, where the critical Sudzha gas transit station is located. Disruption at this key transit point created a ripple effect, impacting European gas supplies and further intensifying the regional shortage of Natural Gas. The severe scarcity of this essential raw material directly affected Ammonia production, resulting in reduced output levels and contributing to the rise in Ammonia prices. Demand for Ammonia remained moderate, driven by domestic requirements and orders from European importers. However, this demand was largely concentrated among smaller buyers within the region, reflecting a cautious market outlook. Additionally, the market faced further challenges due to fluctuating weather conditions, which impacted demand from the major downstream fertilizer sector. These unpredictable weather patterns made it difficult for farmers to forecast their fertilizer needs, creating a more volatile demand environment. By the end of the quarter, the price of Ammonia FOB Novorossiysk (Russia) was recorded at USD 495 per metric ton.
South America
In Q3 2024, the South American Ammonia market experienced a marked uptrend, with Brazil showing the most pronounced fluctuations. Several factors have contributed to this price increase, including supply constraints resulting from production issues in major exporting regions. Decreased exports, logistical challenges, and global trade uncertainties have collectively tightened the supply chain, pushing prices higher. Additionally, domestic demand remained subdued due to weather-related uncertainties, leading to cautious purchasing behavior among farmers. This has further widened the supply-demand gap, intensifying the upward pressure on prices. In Brazil, the price increase was particularly significant, showing a 4% rise compared to the previous quarter and a 21% difference when comparing the first and second halves of the quarter, indicating a rapid price escalation within a short timeframe. By the end of the quarter, the price of Anhydrous Ammonia CFR Sao Paulo reached USD 470/MT, highlighting the overall upward trend and positive sentiment in the regional pricing environment.
Middle East
In Q3 2024, the Ammonia market in the MEA region saw a notable uptrend in prices, influenced by several key factors. The absence of major exporters from the global market reshaped demand dynamics, particularly affecting Saudi Arabia. Increased international interest and consistent demand ahead of the planting season helped to support higher prices. Supply constraints also emerged due to production challenges at Ma’aden, one of the country’s key ammonia-producing facilities, leading to shortages that further elevated prices. Additionally, rising production costs, driven by higher feedstock prices and escalating freight charges, contributed to the overall price surge. Saudi Arabia experienced the most significant price fluctuations, recording a 23% increase compared to the previous quarter. Although prices were down by 11% compared to the same quarter last year, there was a 6% rise from the first to the second half of the quarter, highlighting a sharp incline. The quarter concluded with the price for Anhydrous Ammonia Spot Ex Al Jubail in Saudi Arabia reaching USD 380/MT, indicating a positive pricing environment amid the ongoing market dynamics.
FAQs
1. What is the current price trend of Ammonia?
Ammonia prices vary by region. As of July 2025, prices are trending upward in regions like the Middle East and South America due to tightening global supply. In contrast, North America has seen relative stability, while Asia experienced sharp increases.
2. Who are the top Ammonia producers in the Middle East?
Leading producers in the Middle East include Ma’aden (Saudi Arabia), ADNOC (UAE), QAFCO (Qatar), and NPC (Iran). These companies play a key role in both domestic markets and global exports, particularly to Asia and Africa.
3. What is the Ammonia Price Forecast for Q3 2025?
Ammonia prices are expected to remain bullish in Q3 2025, especially in regions reliant on imports such as Brazil, India, and the UAE. Geopolitical disruptions, natural gas supply issues, and strong Asian demand are likely to keep upward pressure on global Ammonia pricing.
4. How is the Ammonia Production Cost Trend impacting global prices?
Natural gas prices, a primary feedstock for ammonia production, remain volatile due to supply constraints in regions like Trinidad & Tobago and Eastern Europe. These rising input costs are directly influencing global ammonia pricing, especially for exporters with tight margins. While some regions maintain pricing stability through long-term contracts, others face elevated costs from freight, feedstock, and insurance premiums.
