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Moroccan barite’s rising role in global markets
Morocco plays a crucial role in two specific segments of the global barite market, both closely monitored through monthly reports by Fastmarkets. The first and more valuable segment involves raw, unprocessed barite with a specific gravity of 4.2, typically sold in bulk. This high-quality barite meets the American Petroleum Institute (API) standards and is traded internationally based on a price per ton in US dollars, FOB (Free On Board) from Morocco. Fastmarkets evaluates Moroccan barite prices using a rigorous methodology. Prices are determined on the last Thursday of each month, at 4:00 PM London time, and only transactions that meet strict criteria are considered. The barite must be delivered in its raw form, in large quantities, and with payment terms not exceeding thirty days. Transactions that don’t meet these conditions, or are confidential or unverifiable, are excluded from the reference pricing.
In the quiet of Morocco’s Atlantic ports, unprocessed barite catches the eye of the most discerning observers. This product now holds a unique position in global trade, especially as industrial applications, such as those in oil exploration, undergo significant transformations. According to Fastmarkets, barite that meets the API standard, with a density of 4.2, is priced at approximately $145 per ton (FOB) for quantities exceeding 1,000 tons. A slightly lower-grade barite, with a density of 4.10, is also traded but is not explicitly valued in the latest report.
Morocco benefits from its significant barite deposits and strategic geographical location. Its proximity to European and Mediterranean markets, along with reliable port logistics, provides a fluid and dependable export system. This advantage is hard to match by other exporting countries, such as China or India, particularly amid increasing fragmentation in supply chains.
Fastmarkets’ evaluation method ensures that only rigorously documented transactions, meeting specific criteria, are included in the price index. This system eliminates speculative or approximate transactions, enhancing the reliability of the price data. The publication reflects the remarkable stability of Moroccan barite prices, contrasting with the persistent volatility seen in comparable markets. This stability is a testament to the regularity of business operations within Morocco.
As industries, particularly in extraction and petroleum, reassess their supply chains in an increasingly uncertain world, Moroccan barite is gaining significance. It is not merely a mineral but has become an indicator of predictability in the volatile geopolitics of raw materials.