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Frac Sand Companies Crushed by Excess Supply, Declining Demand and Falling Price
Industry Segment: Metals & Minerals | Word Count: 1345 Words
SUGAR LAND, TEXAS--November 18, 2019--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The industrial sand market has been crushed, a victim of excess supply, weakening demand and falling prices. Frac sand facilities have been closing over the last two years, and in their third-quarter earnings calls, company executives predicted further closings or cutbacks. Weak market conditions could cause proposed new sand projects to be cancelled or pushed back.
Within this article: Update on the North American frac sand market. Other companies featured: U.S. Silica Holdings Incorporated (NYSE:SCLA), Covia Holdings Corporation (NYSE:CVIA), Hi-Crush Incorporated (NYSE:HCR), and Sand Smart Incorporated (NASDAQ:SND)
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