The significant macroeconomic factors of the past weeks have, not surprisingly, taken their toll on the US fracking market. In the Permian, the FOB Kermit 40/70m tight supply scenario is over, with prices down by almost 15% this week.
As the corona virus continues to cause major disruptions in the global economy, Kenya announced travel restrictions for travellers from countries that have confirmed cases of COVID-19 along with the closure of schools and gatherings in public.
In the Permian, FOB Kermit 40/70m supply remains tight, with prices moderately increasing by 1%. Meanwhile, FOB Kermit 100m prices fell by $1 per ton.
In the Permian, FOB Kermit 40/70m supply remains tight, with prices moderately increasing by 1%. Meanwhile, FOB Kermit 100m prices fell by $2 per ton. Unsurprisingly, we heard anecdotally last week that the market had been quiet (even for Permian sand).
In the Permian, FOB Kermit 100m and FOB Kermit 40/70m prices rose by $1.50 each. We have heard chatter that although there is some hesitancy on quality relative to price of in-basin 40/70m sand, supply is still tight.
The spot biomass market traded between $0.45 to $1.10 per point this month. This corresponds with a simultaneous slowing of both actual deal flow and price depreciation month-over-month. Colorado, Oregon, and Kentucky continue to trade in a similar range to each other.
Northern White FOB Odessa 40/70m and 40/70m mine gate prices each rose by $1.50/ton this week, suggesting limited increase in consumption in the Permian. 100m and 30/50m mine gate prices remained relatively stable, suggesting continued, limited demand.
In the Northern White market, prices across the board continue to decline, suggesting continued, limited demand relative to local supply in the Permian.
In the Northern White market, 100m and 30/50m prices fell by 1.5%, while 40/70m prices rose by 3%. This suggests that Northern White prices are levelling off after new year’s optimism.
In the Northern White market, 100m prices rose by 1%, 40/70m prices rose by 4%, and 30/50m prices rose by 2%. This suggests that renewed annual budgets are continuing to have a positive impact on demand for both Northern White and local sand.