Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China - 2023
Contents:
- Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China (CIF) - 2023
- Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China (FOB) - 2022
- Imports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China
- Exports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China
Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China (CIF) - 2023
The average import price for borates; disodium tetraborate (refined borax), other than anhydroi stood at $635 per ton in September 2023, growing by 3.6% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 4.7% against the previous month. The import price peaked at $672 per ton in February 2023; however, from March 2023 to September 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($642 per ton), while the price for Turkey totaled $624 per ton.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).
Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China (FOB) - 2022
In 2022, the average export price for borates; disodium tetraborate (refined borax), other than anhydroi amounted to $787 per ton, with an increase of 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($1,509 per ton), while the average price for exports to Iran ($474 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China
In 2022, imports of borates; disodium tetraborate (refined borax), other than anhydroi into China soared to 888K tons, surging by 35% compared with the previous year. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +15.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +93.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 43% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, imports of borates; disodium tetraborate (refined borax), other than anhydroi surged to $443M in 2022. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 52%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 155 | 94.0 | 222 | 315 | 26.7% |
| United States | 109 | 116 | 96.5 | 128 | 5.5% |
| Others | 0.3 | 0.3 | 0.3 | 0.4 | 10.1% |
| Total | 264 | 210 | 319 | 443 | 18.8% |
Top Suppliers of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous to China in 2022:
- Turkey (600.8K tons)
- United States (286.7K tons)
Exports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China
In 2022, after three years of growth, there was significant decline in overseas shipments of borates; disodium tetraborate (refined borax), other than anhydroi, when their volume decreased by -23.6% to 9K tons. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +8.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +28.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43%. As a result, the exports reached the peak of 12K tons, and then dropped remarkably in the following year.
In value terms, exports of borates; disodium tetraborate (refined borax), other than anhydroi contracted modestly to $7.1M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +19.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 45% against the previous year. As a result, the exports attained the peak of $7.1M, leveling off in the following year.
| Export of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 310 | 444 | 2,433 | 1,946 | 84.5% |
| Uzbekistan | 665 | 682 | 362 | 1,016 | 15.2% |
| Iran | 605 | 575 | 83.9 | 761 | 7.9% |
| Indonesia | 304 | 456 | 423 | 532 | 20.5% |
| Bangladesh | 64.6 | 166 | 125 | 358 | 77.0% |
| Malaysia | 45.3 | 109 | 314 | 273 | 82.0% |
| India | 143 | 187 | 214 | 267 | 23.1% |
| Democratic People's Republic of Korea | 423 | 99.9 | 30.0 | 222 | -19.3% |
| Myanmar | 24.8 | 123 | 256 | 215 | 105.4% |
| Mongolia | 122 | N/A | N/A | 180 | 13.8% |
| Papua New Guinea | 58.2 | 66.5 | 89.4 | 161 | 40.4% |
| Vietnam | 57.6 | 10.5 | 400 | 86.0 | 14.3% |
| South Korea | 314 | 1,299 | 946 | 6.5 | -72.5% |
| Others | 1,051 | 722 | 1,469 | 1,087 | 1.1% |
| Total | 4,190 | 4,939 | 7,146 | 7,112 | 19.3% |
Top Export Markets for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous from China in 2022:
- Japan (1914.6 tons)
- Iran (1604.3 tons)
- Uzbekistan (1432.1 tons)
- Indonesia (839.5 tons)
- Malaysia (482.4 tons)
- Bangladesh (448.8 tons)
- Democratic People's Republic of Korea (442.0 tons)
- Papua New Guinea (248.6 tons)
- Myanmar (198.4 tons)
- India (177.0 tons)
- Mongolia (166.7 tons)
- Vietnam (136.9 tons)
- South Korea (6.1 tons)
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