The Ulexite FOB Savannah increased in November 2025 due to tight available US feedstock quality and steady supply. The energy and handling prices, in combination with refining margins squeezed by product demand at insulation, specialty glass, and fertilizer industries, posed a challenge to this rise.
Ulexite in the U.S. was stronger in November, although only mildly, with FOB Savannah prices advancing by 1.32% from October. This action indicates that a balance between limited domestic production and constant imported shipments has positioned prices for Ulexite on a positive trail to conclude the year. Domestic operations in California and Nevada were close to full production in October and November, but with lower grades of ore at B2O3 levels of 8-10%, in comparison with other ore imported from Chile and Turkey, thus maintaining FOB prices of Ulexite higher.
Unit production and supply chain dynamics facilitated the pricing trend. Ulexite mining at the Kramer District and Nevada playas continued at the expected scale without significant turnarounds. Gas prices at Henry Hub rose on a percentage basis of 4% on a monthly basis, thus contributing to heightened calcining prices for refining companies performing calcining on ulexite in house, although a significant event, not significant enough to justify a reduction in production. Gulf Coast inventories were proximate to the level over two weeks, not an accumulation to build, and the flow through the West and Atlantic Coast ports remained free for import.
Demand drivers were varied and robust. Fiberglass insulation product manufacturers increased their demand for boron from Ulexite due to a rise in housing starts in the Sun Belt, while special glass product manufacturers increased their demand for boric acid to manufacture liquid crystal displays for assembly towards the end of the year. Fertilizer blenders in California continued to purchase Ulexite-supplied micronutrients at a fairly stable level, while Mexican and Canadian customers continued to contribute to U.S. borate sales, and thus U.S. Ulexite demand, indirectly. Demand procurement groups also started doing business for December ahead of time, which had a small pull-forward impact on Ulexite demand.
Adding more color to this, the driving factors for the Indian Ulexite market demand are getting applied to the US volumes too. The usage of Ulexite in the Indian market has been rising in the ceramics industry, glass industry, metal industry, and agricultural sector. With the rising construction sector in the urban areas of India, this has increased the usage of Boron-based materials, such as Ulexite Fiber, in the market. Additionally, fertilizers keep adding more ulexite to the market as slow-release Boron.
Analysis of market trends indicates that there would be a continuation of a tight market in case there are no new capacities coming online. In reality, there might not be any changes on the supply side because there would not be new Ulexite capacity coming into the market, although there might not be an expansion of the export mines. However, there might be small list prices on the supply side because of higher inland handling costs and higher energy prices. Market sources are awaiting an indication about whether there might continue to be a strong demand for Ulexite in 2026.
