Cement News tagged under: Prices
BUA to slash cement prices18 September 2023, Published under Cement NewsBUA Cement has announced plans to lower cement prices from NGN5000-5500/bag (US$6.39-7.02/bag) to NGN3000-3500/bag, according to local press reports. AbdulSamad Rabiu, chairman of the BUA Group, said the move is part of the company’s commitment to help reduce the financial burden on the Nigerian population. With two new lines of 3Mta each due for commissioning by the end of 2023, taking the group’s total cement capacity to 17Mta, the cement producer intends to reduce the price of cement... |
Italy’s cement exports see 28% rise in May05 September 2023, Published under Cement NewsCement production in Italy increased by four per cent YoY in June 2023, according to the national construction chamber, Federbeton. When compared with the 2015 base index, the output value advanced from 93 in May to 98 in June. However, in the first six months of the year output was down five per cent when compared with the 6M22. However, cement prices increased 11 per cent YoY in June 2023, following a 13 per cent YoY rise in May 2023. Compared with the 2015 base index, prices slipped from... |
BUA Cement says new plants will drive down cement prices04 September 2023, Published under Cement NewsBUA Cement has said that it hopes the completion of its two new plants this year would result in the lowering of cement prices in Nigeria. The company plans to add 6Mta of cement production capacity by the end of 2023 with the opening of Line 3 at its Obu plant and Line 5 at its Sokoto plant, according to Punch. Contractors in the country have reportedly been complaining to the government over the high cost of cement, suggesting that imports would be cheaper. The Minister of Works i... |
Dangote defends price criticism30 August 2023, Published under Cement NewsDangote Cement has defended recent criticism of its cement prices saying they are in line with or lower than prices across the rest of the West African coast, reports The Punch. The company has come under fire for increasing the price of its cement in Nigeria, in particular, putting it significantly more expensive than in the likes of Benin - a claim refuted by the company, which says its prices in Nigeria have not risen and points out that it is important to distinguish between Dangote’s ... |
Italy’s cement supply declines 13% in May, but prices see 13% increase02 August 2023, Published under Cement NewsCement production in Italy fell by 13 per cent YoY in May 2023, according to the national construction chamber, Federbeton. When compared with the 2015 base index, the output value increased from 90 in April 2023 to 93 one month later. Cement prices increased 13 per cent YoY in May 2023, following a 27 per cent YoY rise in April 2023. Compared with the 2015 base index, prices edged up from 208 in April 2023 to 209 in May 2023. External trade Grey cement imports saw a 13 per cent YoY dr... |
Sudden rise in Nigerian cement prices17 July 2023, Published under Cement NewsCement prices in Nigeria have risen suddenly, reportedly driven by high inflation that advanced to 22.4 per cent in May. In some markets, a 50kg bag of cement has increased in price from NGN4600-4700 (US$5.92-6.04) to NGN5000 in the space of a few days. According to The Guardian, the prices of building materials have increased by more than 70 per cent between 2022 and July 2023. Retailers have blamed this on higher logistics costs, along with higher fuel costs due to the removal of the fu... |
Sri Lanka agrees maximum price for cement07 July 2023, Published under Cement NewsCement producers in Sri Lanka have reached an agreement with the country’s Minister of Trade, Nalin Fernando, to establish a maximum retail price for a 50kg bag of cement. According to NewsWire, the agreed price has been set at LKR2300/bag (US$7.39/bag). Sri Lanka is currently home to one integrated cement plant and four grinding units, with a total cement production capacity of around 8Mta. |
Cement prices in Italy see 27% rise in April05 July 2023, Published under Cement NewsCement production in Italy declined by 13 per cent YoY in April 2023 in addition to a nine per cent YoY drop in March, according to the country’s construction chamber, Federbeton. When compared with the 2015 base index production the value decreased from 101 in March 2023 to 90 in April 2023. Cement prices in April 2023 increased 27 per cent when compared with April 2022, following a 34 per cent YoY increase in March 2023. Compared with the base year of 2015 the price index reached 208 in F... |
Indian cement demand to rise 7-8% in FY2405 July 2023, Published under Cement NewsCement demand in India is expected to expand by 7-8 per cent YoY in FY23-24, according to ICRA, the India-based rating agency. Cement prices, meanwhile, are forecast to remain on a par with FY22-23. In a recent report by ICRA, the agency found that cement volumes in April 2023 were up 12 per cent YoY at 36.6Mt. Volumes in FY22-23 showed a nine per cent expansion to 391Mt. This growth was driven by demand from the housing and infrastructure sectors and due to the low base effect of 1QFY21... |
Indian cement prices forecast to fall 1-3%21 June 2023, Published under Cement NewsCement prices in India are expected to fall by 1-3 per cent in the current fiscal year (April 2023-March 2024), after recording a four per cent compound annual growth rate (CAGR) over the past four fiscal years to a new all-time high of INR391 (US$4.77)/50kg bag, according to CRISIL Market Intelligence and Analytics. The increase in prices was due to disruptions caused by COVID-19, followed by a sharp surge in input costs, especially thermal coal, further aggravated by the Russia-Ukraine wa... |