Global supply of drilling grade barytes, a key weighting agent used in drilling muds, is becoming increasingly strained on the back of high drilling activity.
“Supply of drilling grade barytes is becoming extremely tight given the price of oil and increased drilling activity worldwide. Demand has sharply increased in recent months,” said one supplier.
Prices for API grade (ground, big bags FOB Madras) are up from $92-97/tonne to $160-170/tonne. This is an increase of 75.5%
Prices for Chinese drilling grade barytes...