# Explosives and propellants and Nitric acid

Their prices have moved together.

Source page: https://www.materialinsights.org/links/explosives-and-propellants-and-nitric-acid/

[Explosives and propellants](https://www.materialinsights.org/energy/e_propellants/) (energy) and [Nitric acid](https://www.materialinsights.org/chemicals/nitric_acid/) (chemical): 1 relationship.

## How they are linked

### 1. Price link: derived product

*Cost and price · Moderate · Both ways*

Ammonium nitrate, made from nitric acid, is the main industrial explosive for mining and quarrying. The explosives index correlates with the proxy at 0.15 for monthly moves and 0.60 for yearly moves.

- **0.15** monthly change correlation
- **0.60** 12-month change correlation
- **1.05** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.