High Demand from Downstream Industries Raising Ulexite Price Globally
- 12-Jul-2022 4:18 PM
- Journalist: Jai Sen
The price of Ulexite has avidly increased during the first week of July, owing to the arousing demand from glass fibers and ceramic industries. The increase in offtakes with low inventories in the global market has surged the product's market price. The need for the product in the agricultural sector has boosted the demand in the global market.
Recently, the price of Ulexite has increased by 4.3% by the first week of July in India's domestic market because of a rise in demand from the agricultural sectors due to its use as fertilizer to treat boron deficiency. Additionally, Ulexite is thought to generate a gradual Boron release, in contrast to other highly soluble borates, which is consistent with plants' slow uptake of Boron required. Analysis suggests that the enormous demand from the paper and pulp sector has also increased Ulexite's market value in the Indian domestic market. An increase in offtakes from the agricultural sector to use it for curing boron deficiency has driven the demand for Ulexite.
In the USA, the price of Ulexite increased by 8.5% in the first week of July. Even though Ulexite prices typically remain constant, present market conditions are highly volatile. According to the market database, the fundamentals of demand for the product from the glass and fibres, fertilizers, and industries have significantly increased opportunities for producers in the Ulexite market. Additionally, the price of packaging and processing has increased along with the cost of energy like natural gas, which is to blame for Ulexite's domestic market pricing in the USA. In the USA, the tremendous price increase is backed by pressured consumer demand with tightened product supply.
As per ChemAnalyst, the price of Ulexite would further increase in the upcoming months due to an increase in demand from the agricultural sector.