Cupric nitrate

Nitric Acid Copper Market Dynamics Intelligence, Analysis, and Forecast

I. Market Dynamics Intelligence

Price Information
- Domestic Prices:
- As of April 10, 2026, the ex-factory price of nitric acid copper (Hubei Qiba Jiu Chemical Co., Ltd.; purity 99.9%; packaged in 25 kg bags) in Wuhan City, Hubei Province, was RMB 21.50 per kilogram (RMB 21,500 per metric ton).
- In Suzhou City, Jiangsu Province, the market price for domestic industrial-grade copper(II) nitrate trihydrate (purity 99%) was RMB 26,000.00 per metric ton; the market price for copper(II) nitrate (Senfeida brand; purity 98%) was RMB 24,500.00 per metric ton.
- In Shandong Province, the market price for copper(II) nitrate (Shanxi-sourced; purity 98%) was RMB 21,000.00 per metric ton.
- The national average ex-factory price for industrial-grade copper(II) nitrate (purity 99.0%–99.5%) in 2025 was RMB 29,700 per metric ton, representing a 2.8% increase from RMB 28,900 per metric ton in 2024.
- Overseas Prices:
- China’s export average price for copper(II) nitrate rose from USD 3,240 per metric ton in 2024 to USD 3,410 per metric ton in 2025.
- European regional prices for copper(II) nitrate remain relatively high, ranging approximately between USD 3,500 and USD 4,000 per metric ton.

Supply-Demand Situation
- Supply Side:
- As of end-2025, China’s total effective production capacity for copper(II) nitrate stood at approximately 184,000 metric tons per year. Hubei Xingfa Chemical Group Co., Ltd. held an annual capacity of 42,000 metric tons (22.8% of national total); Jiangxi Copper Company Limited accounted for 36,000 metric tons (19.6%); and Zhejiang Weihua New Materials Co., Ltd. accounted for 29,000 metric tons (15.8%). Collectively, these three enterprises accounted for nearly 58.2% of China’s total capacity.
- China’s actual output of copper(II) nitrate in 2025 reached 153,000 metric tons, with a capacity utilization rate of 83.2%, up 2.7 percentage points from 80.5% in 2024. Newly commissioned capacity—including the Phase II high-purity copper(II) nitrate purification line at Xingfa’s Yichang New Materials Industrial Park (Hubei) and the Phase II purification line at Jiangxi Copper’s Ganzhou base—has progressively come online.
- Demand Side:
- China’s apparent domestic consumption of copper(II) nitrate in 2025 totaled 149,000 metric tons. Imports amounted to 8,200 metric tons, primarily high-purity electronic-grade copper(II) nitrate (≥99.99% purity) sourced from South Korea and Japan. Exports totaled 12,100 metric tons, mainly destined for India, Vietnam, and Turkey.
- Application volume in lithium battery cathode precursor doping agents reached 18,300 metric tons in 2025, a 24.1% year-on-year increase. Usage in traditional electroplating and textile printing/dyeing auxiliaries stood at 54,200 metric tons, reflecting only a modest 1.3% growth year-on-year. For 2026, demand from the lithium battery cathode material precursor segment is projected to reach 24,500 metric tons—a further 8.9% increase over 2025. Demand for high-purity copper(II) nitrate (≥99.99%) used in electronic specialty gases and metal–organic frameworks (MOFs) synthesis is forecast to grow by 12.6% year-on-year.

Import–Export Situation
- In 2025, imports totaled 8,200 metric tons, with an average import price of RMB 58,600 per metric ton; exports totaled 12,100 metric tons, with an average export price of RMB 34,200 per metric ton. Import volume declined by 4.7% year-on-year, while export volume increased by 11.3% year-on-year. Notably, exports to Vietnam and Mexico surged by 29.6% and 41.8%, respectively.

II. Analysis and Judgment

Price Trend Analysis
- Domestic copper(II) nitrate pricing is influenced by multiple factors including raw material costs, supply–demand dynamics, and regulatory policies. The 2025 average ex-factory price for industrial-grade copper(II) nitrate rose modestly, though its growth rate lagged behind the combined cost increase of copper metal and nitric acid—indicating enhanced industry bargaining power, partly attributable to cost reductions achieved by leading enterprises through process optimization.
- Overseas copper(II) nitrate prices exhibit higher volatility due to global market influences. Domestically produced products hold significant price competitiveness in mid-tier industrial applications, yet high-end applications—such as semiconductor packaging and PCB etching—remain heavily reliant on imported supplies.

Supply–Demand Relationship Analysis
- On the supply side, leading enterprises’ technology upgrades and capacity expansion projects have progressively come online, improving overall product quality and delivery reliability. Industry concentration continues to rise. Newly added effective supply capacity is sufficient to meet the net incremental demand projected for 2026, indicating that market expansion is driven not solely by demand pull but rather by a dual-engine dynamic of coordinated supply and demand growth.
- On the demand side, rapidly growing incremental procurement requirements for high-purity copper(II) nitrate from emerging sectors—including new-energy battery materials precursors and electronic-grade chemicals—are becoming the primary drivers of market development. By contrast, demand growth in traditional electroplating and textile auxiliary applications remains sluggish, signaling an increasingly pronounced structural substitution trend.

Competitive Landscape Analysis
- The Chinese copper(II) nitrate market exhibits high concentration, characterized by a “one-dominant, multi-strong” structure with clearly defined enterprise tiers. Hubei Xingfa Chemical Group Co., Ltd. leads with a 28.5% market share, followed by Jiangxi Copper Company Limited and Zhejiang Weihua New Materials Co., Ltd., each holding notable shares. Leading enterprises reinforce cost control and technological barriers via integrated upstream–downstream operations, securing competitive advantages in the marketplace.
- Second-tier enterprises generally focus on niche downstream applications or specific geographic markets, demonstrating irreplaceability within their respective segments. Their revenue growth rates consistently exceed the industry-wide average—highlighting robust momentum behind structural growth.

III. Forecast

Price Forecast
- In the short term, domestic copper(II) nitrate prices are likely to remain relatively stable or experience minor fluctuations, subject to raw material cost pressures and supply–demand imbalances. Over the longer term, sustained demand growth from new-energy battery materials and other downstream sectors—combined with further improvements in industry bargaining power—suggest a trend toward steady, moderate price appreciation.
- Overseas copper(II) nitrate prices remain highly sensitive to international market developments. Significant price volatility may arise should global supply–demand conditions shift or trade frictions emerge.

Supply–Demand Forecast
- On the supply side, continued ramp-up of new capacity from leading enterprises—and further consolidation of industry concentration—will continuously strengthen China’s copper(II) nitrate supply capability, enabling it to fully meet expanding market demand. Concurrently, manufacturers will place greater emphasis on technological innovation and product quality enhancement, propelling sectoral advancement toward high-end, green, and sustainable development.
- On the demand side, demand for high-purity copper(II) nitrate from new-energy battery materials and electronic-grade chemical sectors will continue rising steadily, serving as the principal growth engine. Demand from traditional application areas will remain broadly stable or grow marginally, though its relative share of total demand will gradually decline.

Competitive Landscape Forecast
- The industry is undergoing accelerated evolution—from scale-driven competition toward a three-dimensional competitive paradigm centered on technology, service excellence, and green compliance. Manufacturers possessing dual certifications for electronic-grade and pharmaceutical-grade standards, mastering low-temperature crystallization purification and nanoscale dispersion technologies, and having already secured long-term supply agreements with two or more A-share listed downstream customers stand poised to command valuation premiums.
- Leading enterprises will further consolidate their market positions through integrated operations and continuous technological innovation. Second-tier enterprises will deepen specialization within their niche domains to enhance competitiveness. Industry consolidation is expected to intensify, with smaller players potentially exiting the market or being acquired.