Anhydrous ammonia is a critical industrial chemical primarily used in nitrogen fertilizer production, making it a cornerstone of global food security supply chains. Heavily energy-intensive to produce via the Haber-Bosch process using natural gas feedstock, its price is highly correlated with natural gas markets, and supply disruptions in Russia and Ukraine have significantly reshaped global trade flows since 2022. Its hazardous and dual-use nature subjects it to strict export controls, specialized logistics requirements, and heightened regulatory scrutiny across most jurisdictions.
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