Boric Acid Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Boric Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Boric Acid Price Trend for the Second Half of 2023

Asia

After an underwhelming performance in the first half of the year, the boric acid market stabilized slightly during the latter half of the year. The gap between the supply and demand dynamics reduced gradually, which caused the price graph to plateau eventually. The boric acid’s monthly average price in the Chinese domestic market stood at around 1020 USD/MT in December’23.

Boric Acid Price Chart

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The said period began with improved downstream demands, which started balancing out the supply situation a little and put the boric acid prices on a rising trajectory for the early months of the third quarter; however, as the fourth quarter progressed, the market outlook reversed again, and the supplies started dominating, particularly in the Asian markets as the international orders tumbled. Overall, mixed market sentiments were witnessed in H2’23.

Europe

The European boric acid market exhibited regular fluctuations during the last six months of 2023. The prices started with marginal inclination initially in July but quickly turned southwards as the days progressed. The consuming sectors presented slumping demands which kept pushing the price trend further down. Even though the market started rebounding by the end of the last quarter, the market sentiments remained muted for the most time period.

South America

Following in the European boric acid market’s trends, the South American boric acid prices tumbled till the middle of the fourth quarter. However, the market situation improved in the latter part of the last quarter. The overall price trend was largely stable as the average monthly prices for boric acid in the Brazilian market averaged about 894 USD/MT in December’23.

Analyst Insight

According to Procurement Resource, given the current supply and demand outlooks of the global Boric Acid market, not much change is anticipated in the market dynamics going forward.

Boric Acid Price Trend for the First Half of 2023

Asia

The price trend for Boric Acid registered a downward trend in the first half of 2023. The spot prices started around 8150 RMB/MT in January and went to about 7850 RMB/MT in March’23. The same declining trend continued in the second quarter, where the spot prices averaged around 7417 RMB/MT in June’23, registering an overall decline of 8% since January’23. Lowered downstream demands remained the primary reason for such declining price behaviours.

Europe

Europe region especially witnessed fluctuating price patterns in the true sense. Prices rose in the first month owing to supply chain disruptions but temporarily declined in the middle of the first quarter as the upstream costs decreased since port congestions cleared and freight normalization took place.

Boric acid prices stabilized in the later Q2 after riding slightly high in the first two months of Q2. These patterns were directly correlated with supply-demand dynamics in the region. As the supplies kept getting better, the steepness of the price curve kept reducing.

North America

The North American market observed oscillating price trend for Boric Acid in the said period. Prices first rose in January owing to the supply curtailments because of port congestions. But then, the dull demands from downstream industries dominated over every other influencing factor, and prices were set on a declining trajectory. Prices oscillated on the lower side for the rest of the said period.

Analyst Insight

According to the Procurement Resource, boric acid prices are expected to remain volatile in the coming quarter. The bearish demands amid low supplies will likely impact the overall pricing fundamentals of the market.

Procurement Resource provides latest prices of Boric Acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.