Ulexite Prices Have Risen in the US Market in Response to Increased Demand
- 19-Sep-2022 7:05 PM
- Journalist: Bob Duffler
This month, Ulexite prices increased by 2% in the USA because of the uptick in demand from the downstream industries. Due to the massive demand from the pulp and paper sector, the Ulexite market has expanded, and prices have increased. Furthermore, the product's price has increased in the domestic market due to rising input costs. The product's price has increased due to low stockpiles and high agricultural offtakes to meet the demand to address the boron deficit. According to the ChemAnalyst database, Ulexite prices were projected to be USD 770/MT in August.
The Ulexite prices rose in the USA due to high demand from packaging and other end-use fertilizer segments. Furthermore, Upstream Natural gas prices have risen, hampering the manufacturing process. Additionally, fundamental shifts in the glass, fibre, and fertilizer industries' demand for the product have greatly expanded the market's opportunities for producers of Ulexite. Furthermore, The Ulexite demand has increased significantly in the agricultural sector because it is used to correct Boron deficiency in various plant species, an essential element for plant growth. Due to low inventories and high demand in the market, the product price has increased significantly.
As per ChemAnalyst, the cost of containers has increased twice in recent weeks. Additionally, the processing costs rose sharply with the increasing natural gas prices. The primary Ulexite market lies in South and North America, as it is extracted from Boron mines. Prices for Boric Acid have roughly doubled in the last year to around $1,200 per ton, while the business remains opaque, and price discovery is primarily through the company's network of industry insiders.
It is anticipated that the Ulexite price will increase during the coming weeks, owing to the rising demand from glass fibres and ceramic industries. The increase in offtakes with low inventories in the global market is predicted to raise the product's market price. Furthermore, the Ulexite Demand in the agricultural sector will influence the Ulexite demand worldwide.