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.
Prices for API grade (ground, big bags FOB Madras) are up 75.5% from the beginning of the year. And prices are expected to increase.
One trader told IM: “I can tell you right now I have just sold some Chinese barytes at $140/tonne from December to January.”
Elsewhere, paint-grade barytes have also increased, one source said. White paint-grade (96-98% BaSO4, 325-350 mesh ex works USA) are up 19% from the...