U.S. Silica Holdings Inc. SLCA said Tuesday it will raise prices on most of its non-contracted products by up to 20%, starting June 1. The producer of commercial silica price increases will be for products used primarily in glass, filtration, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products and other applications. “These price increases are necessary to help offset significant and continuing cost increases in labor, transportation, materials and manufacturing costs,” the company said in a statement. U.S. Silica’s stock, which was still inactive in premarket trading, has slipped 1.5% year to date while the S&P 500 SPX has gained 8.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.