For the Quarter Ending December 2025
North America
• In the USA, the Ulexite Price Index fell by 3.5% quarter-over-quarter, pressured by weaker exports.
• The average Ulexite price for the quarter was approximately USD 679.67/MT, reflecting FOB Savannah dynamics.
• Ulexite Price Index weakened as Chilean and Turkish offers forced U.S. sellers to lower FOB.
• Ulexite Spot Price softened amid year-end maintenance and reduced fiberglass plant nominations across primary importers.
• Ulexite Production Cost Trend remained contained with stable natural gas and mine operations limiting cost-push.
• Ulexite Demand Outlook stays subdued as construction slowdowns and fertilizer completion reduce procurement levels overall.
• Ulexite Price Forecast anticipates modest month-to-month adjustments driven by inventory builds and fluctuating export enquiries.
• Ulexite Price Index pressures were amplified by ample inventories and seaborne supply from South America.
Why did the price of Ulexite change in December 2025 in North America?
• Ample U.S. and seaborne supply pressured prices as Chilean and Turkish shipments increased available volumes.
• Weaker demand from fiberglass and borosilicate producers, plus fertilizer purchases, reduced spot and contract enquiries.
• Stable natural gas and rail logistics contained production costs, enabling sellers to accept narrower margins.
APAC
• In India, the Ulexite Price Index fell by 2.96% quarter-over-quarter, reflecting subdued procurement and inventories.
• The average Ulexite price for the quarter was approximately USD 522.72/MT, reflecting import parity, port costs.
• Ulexite Spot Price was muted as import arrivals met demand, keeping the Price Index flat.
• Ulexite Price Forecast indicates limited upside given balanced supply and seasonal demand headwinds across sectors.
• Ulexite Production Cost Trend was supportive as lower global energy reduced processing and freight costs.
• Ulexite Demand Outlook cautious as ceramic and agricultural buying soften, offset by solar glass offtake.
• Ulexite Price Index pressure eased as port inventories absorbed inflows, while export demand provided intermittent support.
• Import-dependent market dynamics left distributors managing narrow margins, with just-in-time inventories limiting speculative buying ahead.
Why did the price of Ulexite change in December 2025 in APAC?
• Sustained import arrivals and adequate port stocks in December reduced buyer urgency, weighting prices downward.
• Higher year-end port handling and financing charges slightly elevated landed costs, supporting modest price uptick.
• Steady demand from solar glass and ceramic sectors absorbed small cost increases, preventing sharper declines.
Europe
• In Europe, the Ulexite Price Index declined quarter-over-quarter, reflecting subdued downstream demand and competitive import availability.
• Ulexite Price Index softened as increased offers from Turkey and South America pressured regional sellers to adjust quotations downward.
• Ulexite Spot Price weakened amid slower purchasing activity from glass and ceramic manufacturers, particularly during year-end destocking.
• Ulexite Production Cost Trend remained largely stable, with manageable energy costs and steady mine-side operations limiting cost escalation.
• Ulexite Demand Outlook stayed muted as construction activity slowed and fertilizer blending demand softened across key European markets.
• Ulexite Price Forecast points to limited near-term upside, with prices expected to track inventory levels and import flow dynamics.
• Ulexite Price Index pressures were reinforced by ample port inventories and consistent seaborne arrivals into major European hubs.
Why did the price of Ulexite change in December 2025 in Europe?
• Elevated inventories across Northwest and Southern Europe reduced buyers’ urgency to replenish stocks, exerting downward pressure on prices.
• Weaker demand from glass, ceramic, and specialty fertilizer sectors curtailed spot buying toward year-end.
• Stable energy costs and efficient inland logistics enabled suppliers to offer competitive pricing, narrowing margins but sustaining supply continuity.
For the Quarter Ending September 2025
North America
• In USA, the Ulexite Price Index fell by 6.79% quarter-over-quarter, reflecting persistent weak international demand.
• The average Ulexite price for the quarter was approximately USD 704.33/MT, based on FOB Savannah assessments.
• Ulexite Spot Price softened as ample inventories and competitive imports pressured domestic offers and margins.
• Ulexite Price Forecast shows modest near-term gains but overall subdued recovery absent stronger export demand.
• Ulexite Production Cost Trend remains elevated from high energy costs, compressing margins amid lower prices.
• Ulexite Demand Outlook highlights regulatory uncertainty in Canada and slower Asian industrial activity reducing offtake.
• Ulexite Price Index movements were influenced by inventory drawdowns and export enquiries remaining below seasonal norms.
• Ulexite Spot Price volatility persisted amid logistics delays and end-use sector weakness, limiting firm buying interest.
Why did the price of Ulexite change in September 2025 in North America?
• Regulatory uncertainty in Canada curtailed purchases through late summer, reducing export demand and suppressing Ulexite pricing.
• Elevated energy costs sustained production expense, yet ample supply and inventories effectively prevented price recovery.
• Soft industrial activity in Asia and delayed agricultural cycles reduced import demand, weakening Ulexite Price Index.
APAC
• In India, the Ulexite Price Index fell by 10.08% quarter-over-quarter, reflecting weak demand and competitive imports.
• The average Ulexite price for the quarter was approximately USD 538.68/MT as reported by domestic assessments.
• Ulexite Spot Price pressure persisted as port inventories remained ample, keeping the Ulexite Price Index lower.
• Ulexite Demand Outlook weakened across ceramics, glass, and agriculture, contributing to softer Ulexite Price Index readings.
• Ulexite Production Cost Trend remained stable internationally, but freight and logistics reduced landed costs for buyers.
• Ulexite Price Forecast indicates modest volatility with limited upside absent demand recovery, per supplier-conveyed projections.
• Stable mining output from major exporters kept global supply ample, constraining Ulexite Price Index rebounds.
• Inventory rebuild cycles and seasonal restocking may support demand, tightening Ulexite Demand Outlook, Price Forecast.
Why did the price of Ulexite change in September 2025 in APAC?
• Weakened industrial and agricultural offtake reduced spot procurement volumes, directly lowering net demand in September.
• Competitive imports from Turkey maintained ample supplies, suppressing domestic offers and effectively preventing price support.
• Logistics remained functional but buyers delayed purchases awaiting clearer demand signals and monsoon progress updates.
Europe
• The Ulexite Price Index in Europe declined by approximately 5.3% quarter-over-quarter through Q3 2025, mirroring subdued downstream demand across the glass, ceramics, and construction industries.
• The average Ulexite Spot Price for the quarter hovered around USD 670–685 / MT (CIF Rotterdam), pressured by weak industrial uptake and sufficient import availability from Turkey and South America.
• Ulexite Spot Price activity remained muted as buyers adopted a cautious stance amid stable inventories and limited seasonal demand recovery.
• The Ulexite Price Forecast indicates continued soft market conditions in Q4 2025, with minor upticks possible only if construction and glass production rebound by winter.
• The Ulexite Production Cost Trend remained stable, as raw material and energy inputs showed minimal fluctuation; producers maintained steady output levels without significant margin recovery.
• The Ulexite Demand Outlook for Europe stayed subdued, with construction and ceramic producers operating below capacity, though agricultural consumption in Central and Eastern Europe offered a slight buffer.
• The Ulexite Price Index movement was largely influenced by consistent supply from Turkish exporters and moderate freight rates that prevented any substantial price rise.
• Ulexite Spot Price volatility remained low, with most quarterly adjustments reflecting inventory balancing rather than abrupt market shocks.
Why did the price of Ulexite change in September 2025 in Europe?
• The Ulexite Price Index in September 2025 decreased due to weak downstream activity in glass and ceramics manufacturing, alongside sustained import arrivals maintaining healthy stock levels.
• Competitive offers from Turkish and Bolivian exporters kept European import prices under pressure, offsetting any cost-push factors from energy or logistics.
• Agricultural demand, while stable, was insufficient to offset industrial weakness, resulting in a lower Ulexite Spot Price by month-end.
For the Quarter Ending June 2025
North America
• The Ulexite Price Index in North America remained broadly stable through the start of the quarter, effectively matching Q1 2025 levels with only modest movement overall — reflecting a balanced market environment with no notable shocks.
• During the mid quarter, Ulexite Price Index saw a slight upswing as Ulexite Price recorded a marginal 0.5% month on month rise in April. This uptick, driven by steady demand and balanced supply, indicates that while demand conditions remained firm, supply was well supplied and prices stayed predictable.
• As for the Ulexite Production Cost Trend, mining output benefited from a 1% year on year increase by March; improvements in extraction technology and stable investment kept production costs under control, despite no major cost pressures emerging.
• The Ulexite Demand Outlook continued to look healthy, with glass, ceramics, construction and agriculture sectors maintaining steady offtake. Demand from Canada and Mexico remained consistent; however, no abrupt surge in orders occurred.
• Ulexite Production Cost Trend remained steady-to-strong thanks to resilient domestic mining operations running above long term capacity, assisted by expansion projects like the Ioneer Rhyolite Ridge, which significantly enlarged ore reserves.
• Ulexite Demand Outlook weakened into June, as regulatory uncertainty in Canada and prolonged contraction in Taiwan dampened orders. Downstream industry volatility and economic headwinds further suppressed demand, leaving inventory levels elevated and eroding pricing power.
Why did the Ulexite price change in July 2025 in North America?
In July 2025, the Ulexite Price Index in North America edged lower, continuing its Q2 downward momentum. This was largely driven by the spillover effects of excess inventory accumulated during the previous quarter, combined with sustained weak demand from key export destinations. Regulatory uncertainty surrounding the classification of borates under Canada’s CEPA framework continued to dampen industrial purchasing confidence, leading buyers to delay procurement decisions. Simultaneously, economic sluggishness in parts of Asia restricted borate-based industrial consumption, particularly in the glass and ceramics sectors.
APAC
• In Q2 2025, Ulexite Price Index in APAC declined by approximately 1.8% compared to Q1 2025.
• Ulexite Production Cost Trend remained generally stable throughout the quarter, as supply chains in major producing countries (e.g. Turkey, Chile, USA) held steady with no major disruptions, keeping raw material and logistic costs largely unchanged.
• Ulexite Demand Outlook across the region stayed moderate and balanced: demand from agriculture, construction, ceramics, and specialty glass sectors followed a steady trajectory with only mild seasonal uplift from pre monsoon agricultural activity in key consuming countries.
• Ulexite Price Forecast for the remainder of 2025 in APAC anticipates continued mild weakness near term if demand remains subdued and inventories stay ample—but medium term structural pressures from growth in agricultural fertilizer use, ceramics, and sustainable construction projects may support recovery later in the year.
Why did the Ulexite price change in July 2025 in Asia?
By early Q3, the Ulexite Price Index stabilized, following several months of decline. This shift can be attributed to a modest recovery in agricultural demand as monsoon rains normalized across key Indian farming regions, prompting a seasonal uptick in boron fertilizer applications. Additionally, importers slowed their purchasing in June, anticipating further price drops, which may have led to restocking activity in July, mildly tightening available supply. While overall demand remained cautious, these short-term consumption triggers likely eased oversupply pressures, lending partial support to prices and pausing the sharp downtrend observed in Q2.
Europe
• The Ulexite Price Index in Europe trended downward through Q2 2025, largely driven by weak demand fundamentals and ample availability of imported material from Turkey and South America, which prevented any price recovery.
• The Ulexite Production Cost Trend remained stable as most European buyers continued to rely on competitively priced imports. With no major shifts in ocean freight or port logistics, production and procurement costs offered no upward pressure on prices.
• The Ulexite Demand Outlook was clouded by subdued activity in construction, ceramics, and glass manufacturing where output slowed due to high energy costs and persistent economic uncertainty across key EU economies.
• Toward the end of the quarter, agricultural demand, particularly from Central and Eastern Europe, showed some signs of recovery with preparations for summer crop cycles. However, this uptick was not strong enough to offset weak industrial consumption.
• Ulexite supply into Europe remained uninterrupted during the quarter, with Turkey maintaining robust export volumes. The continued inflow of low-cost imports kept domestic warehouse inventories well-stocked, further contributing to downward price pressure.
• The Ulexite Price Forecast for the near term remains cautious. Without a clear rebound in construction or industrial production, prices are likely to remain under pressure. However, potential seasonal demand from agriculture and restocking activity ahead of Q4 may offer some temporary price support.
• Why did the Ulexite price change in July 2025 in Europe?
In July, the Ulexite Price Index in Europe likely stabilized slightly following months of decline. This can be attributed to a combination of seasonal agricultural demand and a marginal improvement in ceramic and glass orders from Northern Europe. Some buyers also resumed spot market activity after Q2 destocking, cautiously testing the market for price floors amid signs that the sharp downtrend might be easing.
For the Quarter Ending March 2025
North America
• The Ulexite Price Index in North American market followed upward trend consistently in the first quarter of 2025, supported by strong downstream demand and persistent supply-side disruptions.
• Why did the price of Ulexite change in April 2025?
In the early weeks of April 2025, the Ulexite Spot Price increased, driven by continued supply chain bottlenecks, severe weather disruptions, and resilient demand from glass and construction industries.
• The U.S. Ulexite Spot Price (FOB Savannah) ended the quarter at USD 770/MT, reflecting a 2.6% QoQ increase from Q4 2024.
• Logistical constraints, including fog delays and flooding, impeded shipping operations at the Port of Savannah, reducing inventory turnover.
• Despite a modest increase in domestic mining output, the Ulexite Production Cost Trend remained elevated due to adverse weather and heightened operational costs.
• Demand from the glass, ceramics, and construction sectors remained robust, supported by infrastructure projects and job market expansion.
• Export activity to Canada and Mexico remained stable, maintaining trade momentum across the region.
• The Ulexite Price Forecast for Q2 anticipates further firming if weather-induced disruptions persist and demand continues its current trajectory.
• The Ulexite Demand Outlook is positive, with consumption supported by public sector construction and resilient manufacturing activity.
Asia-Pacific (APAC)
• The Ulexite Price Index in the APAC region showed moderate growth in Q1 2025, supported by consistent demand and stable supply flows.
• Why did the price of Ulexite change in April 2025?
In early April 2025, Ulexite Spot Prices saw a slight increase, mainly due to higher shipping costs linked to escalating tensions in the Red Sea and sustained demand from agriculture and construction sectors.
• In India, Ulexite Spot Price (Ex-Gujarat) closed the quarter at USD 620/MT, marking a 0.3% QoQ increase.
• Favourable weather in exporting countries like Turkey and the USA ensured stable supply chains in early Q1.
• Technological upgrades in processing and India’s supportive policy framework helped mitigate late-quarter global shipping pressures.
• Toward the end of Q1, geopolitical unrest began to raise logistics costs, especially on sea routes affected by the Red Sea crisis.
• Despite this, India's Ulexite Production Cost Trend remained stable, aided by improved domestic handling and efficient procurement practices.
• The Ulexite Demand Outlook remains optimistic, particularly for the agriculture and infrastructure sectors amid ongoing government investments.
• The Ulexite Price Forecast for Q2 indicates moderate gains, contingent on regional procurement agility and evolving freight conditions.
Europe
• The Ulexite Price Index in Europe remained relatively stable throughout Q1 2025, supported by consistent supply and resilient demand from the construction and agricultural sectors.
• Why did the price of Ulexite change in April 2025?
In the early weeks of April 2025, Ulexite Spot Prices rose modestly, driven by escalating freight costs and tightening logistics due to geopolitical disruptions.
• Germany reported firm Ulexite consumption, backed by sustained industrial activity and government infrastructure initiatives.
• Early Q1 demand was stable, with steady import flows from Turkey and the USA maintaining market balance.
• Freight cost volatility emerged late in the quarter, stemming from Red Sea shipping delays and rerouting efforts, pressuring price levels.
• The region’s Ulexite Production Cost Trend remained under control due to consistent import strategies and no major domestic extraction barriers.
• European buyers benefited from technological efficiency in ore processing and strategic diversification in sourcing.
• The Ulexite Demand Outlook remains stable, particularly in Germany, France, and Eastern Europe, driven by public works and agritech investments.
• The Ulexite Price Forecast suggests minor increases in Q2 2025, especially if shipping disruptions continue or input costs escalate.
