Boric Acid Price Trend and Forecast

Boric Acid Regional Price 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 Q3 of 2024

Stay updated with the latest Boric Acid prices, historical data, and tailored regional analysis
 

Asia

In Q3 2024, the Asian boric acid market experienced a consistent decline, particularly in China. Oversupply conditions and weakening demand from key downstream sectors, including glass and ceramics, contributed to the downward price trend.
 

Boric Acid Price Chart

Please Login or Subscribe to Access the Boric Acid Price Chart Data
 

Despite some supply chain disruptions, ample inventories kept prices under pressure. The market saw reduced buying activity, with consumers adopting a cautious approach amid economic uncertainties. The spot prices in China were recorded at (70 USD/MT in September’24.

Europe

The European boric acid market in Q3 2024 initially showed stability, with prices in July remaining similar to June levels. However, as the quarter progressed, prices began to soften. Early consumer attempts to secure volumes signalled potential market upside, but this was short-lived. By September, oversupply and tepid demand from industrial sectors led to price declines.

North America

The North American boric acid market in Q3 2024 displayed a mixed trend. Early in the quarter, prices remained relatively stable, supported by steady demand from agricultural and industrial sectors. However, as the quarter progressed, increased production and imports started to pressure the market. Consumers adopted a wait-and-see approach, leading to sporadic buying patterns.

Analyst Insight

According to Procurement Resource, the global Boric Acid market outlook will likely continue a similar trend. The current oversupply conditions and economic uncertainties may continue to pressure prices in the short term.
 

Boric Acid Price Trend for the Q2 of 2024

Asia

The boric acid market in Asian countries witnessed oscillations in its pricing patterns during the first quarter before the prices eventually declined in the second quarter. The initial minimal fluctuations were driven by various market factors such as seasonal demand patterns and active stocking by the traders. However, the disruption of supply chains is due to persistent issues with the Red Sea area and changes in global freight charges. As a result of this, the number of overseas orders for the commodity declined.

The situation became much more grave in the second quarter as an excessive supply of boric acid flooded the markets. This was based on the anticipation of improvement in the procurement rates of the end user industries, but under these conditions, this led to a surge in inventories, which further asserted a downward pressure on the pricing trajectory of boric acid.

Europe

In the European countries, several factors influenced the market sentiments of the boric acid market during the first half of the year. The region registered a gradual recovery in the first quarter on the back of positive demand from the end-user coatings and construction sectors. Additionally, despite global trading challenges, the number of inquiries and new orders from overseas nations buoyed the optimism of both the trading and manufacturing sectors. Further, some improvements in the economic sector of the region also helped the boric acid market to sustain an upward momentum throughout the quarter. However, considerable delays in the arrival of shipments and deployment of exports due to tensions at the European ports, surge in freight charges, and longer lead times.

North America

In North America, the boric acid market projections depicted a varying price trend in the second quarter of 2024. The influx of costlier imports was the major determining factor in dictating the pricing pattern of the commodity. Additionally, the higher freight charges and logistical challenges further pressurized the market downwards. The extension of lead times, particularly of the imports arriving from the Asian countries, further imbalanced the equilibrium of the market.

Analyst Insight

According to Procurement Resource, the price of Boric Acid is estimated to oscillate, although in a narrow range in the forthcoming quarters as the uncertain scenario of supply and demand will guide this trend of the market.
 

Boric Acid Price Trend for the Q1 of 2024

Stay updated with the latest Boric Acid prices, historical data, and tailored regional analysis
 

Asia

In Q1 2024, the boric acid market in the APAC region experienced a mixed pricing environment, with overall stability but fluctuations in certain countries. India, in particular, saw significant changes due to seasonal demand shifts and supply chain disruptions, such as the Red Sea crisis, which affected freight and availability. Seasonal destocking by traders also contributed to price adjustments early in the quarter. Despite these variations, the region overall maintained a relatively stable pricing trend, with conditions stabilizing towards the end of the period.

Europe

In Q1 2024, the European boric acid market exhibited a steady price increase during the first part of the quarter, driven by strong demand from the coatings and construction sectors and complications in global shipping routes. However, as the quarter progressed, a decline in demand—especially in the German construction industry—led to a downturn in the previously upward trend. This shift was influenced by economic factors such as market uncertainty and higher interest rates, illustrating the dynamic nature of the market in response to both domestic and international pressures.

North America

In Q1 2024, the boric acid market in North America experienced a largely stable pricing environment, with some regional fluctuations. This stability was influenced by balanced supply and demand dynamics, particularly in the agricultural and construction sectors. However, certain disruptions in the supply chain, primarily due to severe weather conditions and logistical bottlenecks, created occasional pricing variations.

The early part of the quarter saw stable demand from key industries, but as the quarter progressed, seasonal factors, such as the impact of colder weather on construction activities, led to moderate fluctuations in pricing. Despite these challenges, the overall market for boric acid in North America remained steady, supported by resilient supply chains and consistent demand from essential sectors, helping to maintain a relatively balanced market environment throughout the quarter.

Analyst Insight

According to Procurement Resource, the Boric Acid prices are likely to remain range-bound in the coming months, given the current global economic outlook and market dynamics.
 

Boric Acid Price Trend for the Second Half of 2023

Stay updated with the latest Boric Acid prices, historical data, and tailored regional analysis
 

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.

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.