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Boric acid price sentiment improves in July with Fastmarkets’ new assessments, signaling potential market upside despite stable prices.
In July, the boric acid market experienced a more positive sentiment as Fastmarkets reintroduced its price assessments for the product. The new assessments, launched on July 31, 2024, come after a hiatus since January 2019, following refinements to the source base and specifications.
For July, boric acid prices held steady compared to June. Fastmarkets set the technical grade, granular boric acid price at $1,100-1,250 per tonne for the US West Coast, $1,000-1,200 per tonne for Europe, $900-1,050 per tonne for China, and $950-1,050 per tonne for Brazil. This stability, combined with increased consumer interest in securing larger volumes earlier than usual, hints at potential market upside.
Boric acid, used primarily in glass, ceramics, and as an agricultural micronutrient, has gained renewed attention due to its role in manufacturing permanent magnets. Although boron’s use in energy transition technologies like solar panels and wind turbines is relatively small—typically 1-5% of product content—demand prospects are expected to double by the end of the decade.
Market trends indicate a gradual price increase in the latter half of the year, influenced by higher freight costs and supply delays. Despite this, prices have stabilized since mid-May. New developments include the slow ramp-up of 5E Advanced Materials in California, which could impact future supply dynamics.
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