For the Quarter Ending June 2022
In North America, the price of Ulexite increased throughout the Q2 of 2022, backed by an increase in demand from the end-use industries, including glass fibers and ceramic industries used as a source of forming an ultra-gloss transparent glass. In the first half of Q2, even though Ulexite prices are typically stable, present market conditions have a lot of volatility. In the second half of Q2, the fundamentals of demand for the product from the glass and fibers, fertilizers, and sectors have greatly increased the opportunities for producers in the Ulexite market. Additionally, the price of packaging and processing has gone up along with the cost of energy like natural gas, which is to blame for the increase in Ulexite's domestic market pricing in the USA.
In Asia-Pacific Region, the price of Ulexite increased throughout the Q2 of 2022, backed by an increase in demand from the to an increase in demand from the agricultural sectors as it is used as a fertilizer to cure the deficiency of Boron. In the first half of Q2, it is estimated that, unlike other extremely soluble borates, Ulexite induces a slow Boron release coherent with the slow uptake of Boron required by plants. In the second half of Q2, the tremendous demand from the paper and pulp industry has also boosted the market value of Ulexite in the Indian domestic market.
In Europe, the price of Ulexite fluctuated throughout the Q2 of 2022 due to the unpredictable market dynamics. In the first half of Q2, the prices increased in the first month due to high demand and the source of slow-release Boron for use in agricultural applications. In the first half of Q2, the use of Ulexite increased as ulexite 2-4 mm is a greyish granular substance, and it was directly used on crops or soil or in a fertilizer mixture. However, the prices were on a downward trajectory in the second month of the quarter, backed by a consistent increase in price, thus, decreasing the demand. Moreover, in the last month of the quarter, the prices increased due to the high input cost and the rise in raw materials price, mainly Boron. Thus, the price of the product remained fluctuated throughout the quarter.