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International Cement Review | Editor's Blog
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The massive bull-run of cement demand in the UAE finally reached its peak in 2008, when demand reached 21.7Mt, up three-fold on the 6.9Mt consumed in 2003. This extraordinary growth is even more startling when one considers per capita consumption reached...
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News from the UK Press indicates that ArcelorMittal, Europe’s major steel producer currently stands to benefit from a €1.15 billion windfall from European “carbon credits” given to it under the European emissions trading scheme...
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The prospects for the Turkish cement market are looking increasingly dim, at least over the next 2-3 years. Domestic demand for 2009 is expected to have fallen by around 10 per cent to approximately 38Mt, while capacity on the other hand, shows now sign...
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The opening, at the end of last month, of Holcim's new 4.0mt per annum cement works at Ste. Genevieve, Missouri, on the Mississippi river is further increasing the pressure on the remaining wet process plants that are becoming increasingly less competitive....
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The impending publication of a 300-page report by Mexican competition authorities is expected to shed new light on the saga of a 26,219t shipment of cement aboard the Mary Nour, refused entry into the Mexican cement market back in July 2004. The Mexican...
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The recently published Global Cement Report Eighth Edition contains a wealth of very useful cement industry data, with analysis and statistical summaries of over 170 countries. This new publication should form an essential reference source for all those...
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The UK papers are full of news and debate about quantitative easing. At first sight one might be forgiven for thinking this was a new type of laxative but the reality is that this is pure financial jargon for printing money – except in todays hi-tech...
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With eye-catching newspaper headlines indicating that much of the UAE is now facing a boom to bust scenario, a stream of daily news highlighting the wholesale cancellation, or at least a halt to, various major building contracts and, not least, with Dubai’s...
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It’s perhaps the sign of a simple mind, but I never fail to smile at the recollection of the Woody Allen quotation that the definition of a financial advisor is someone who you pay to invest your money …until it's all gone. Its resonance...
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The Lafarge ownership saga continues. Last month saw Albert Freres - Group Bruxelles Lambert - seemingly spend close to Euro 100m mopping up Lafarge shares on the French stock exchange, according to official filings, at prices ranging between Euro 70-80...
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The recent brief conflict in Georgia still has some way to run with the Russian’s apparently in no hurry to return to the former status quo. There are two sides to every story, of course, but the Russian view that the Georgian president should be...
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“That’s where John McCain was shot down in 1967”, my taxi driver said rather nonchalantly as we weaved our way through Hanoi’s heavy traffic back to the airport. I looked over at the city park and the placid lake into which the...
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At the end of March 08, Cemex had a net debt US$18,813m disclosed, and a further undisclosed amount of debt in the form of perpetual notes that were lumped together with minorities. Cemex has not yet published its accounts for 2007, but at the end of...
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I am not a successful investor. I classify myself as one who would, at times, buy high and sell low. One who would finally take the plunge to buy tech stocks the day before the market crashed back in 2000 or whenever, and one, when offered Cemex stock...
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The recent Cemtech Conference in Dubai highlighted some interesting topics, many of which centred upon the current supply patterns for cement in the Middle East and, not least, intense debate over the continuing strength of the UAE market. Many analysts,...
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It looks like the fall in stock market valuations over the past couple of weeks may cause problems for some borrowers (but not all) in our sector in a number of debt financed deals. Higher margin payments may have to be made as valuations decline. Recent...
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Having seen what some of my editor colleagues write when they put pen to paper one is reminded of the old adage: silence is golden, but let's throw caution to the winds and see what is stirring in the cement mix this week. I remain puzzled by the...
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