Cement News tagged under: trading
APCMA reports 19% increase in cement dispatches in May 202305 June 2023, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) released more encouraging data for May 2023 than in the previous month of April, which was overshadowed by the season break during Ramadan. The cement representative body is salient about the upward trend. The rise in dispatches has been attributed to increased export and local buying before the announcement of the federal budget as a precaution against measures that would put upward pressure on prices. In addition, falling coal pric... |
Bangladesh’s clinker imports more expensive in new budget FY23-2405 June 2023, Published under Cement NewsBangladesh Minister for Finance, AHM Mustafa Kamal, presented National Budget Speech 2023-24 (July-June) in parliament on 1 June and made some tax measures on the cement industry. The measures are detrimental to the cement industry as they will raise the import cost of clinker and the price of cement bags in Bangladesh, according to local experts. Increase duty on clinker imports The minister proposed that the specific duty of only BDT500/t (US$4.66/t) currently in force for import... |
Petcoke and coal prices fall while oil is stabilising31 May 2023, Published under Cement NewsOil prices are stabilising after a new drop despite OPEC+ production cuts. At its next meeting, scheduled for 4 June 2023, OPEC+ may consider new interventions if oil stays below uS$75. A large supply of coal is exerting a downward pressure on coal prices while low gas is testing the US$100 mark. Petcoke prices continue their drop, driven down by lower coal prices, ample supply and buyers holding back as they wait to see how low petcoke prices will fall. Steam coal and petcoke pri... |
Testing uptrend support at EUR80, pressured by lower energy complex25 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market saw a sharp drop towards the major support at EUR80-85/t as market players finalised compliance buying. Lower oil, gas and coal prices forced power prices down and led the drop in carbon prices. In addition, power demand has fallen due to warmer than forecast weather. The UK ETS system widened the margin to the EU ETS in April, as the UK is not expected to deliver the same harsh tightening as in the EU. The December 2023 s... |
Cement export revenue totals US$150m in 10MFY22-2323 May 2023, Published under Cement NewsThe cement industry in Pakistan experienced a mixed trend in export revenue during the first 10 months of the current financial year, which runs from July 2022 to June 2023. While the amount of revenue earned in US dollars decreased, it actually improved in terms of the Pakistani rupee due to the currency's devaluation. Based on the latest data from the Federal Bureau of Statistics (FBS), the cement industry's export earnings for the 10MFY22-23 amounted to US$150.487m, with 3.242Mt of ce... |
Mediterranean trading patterns22 May 2023, Published under Cement NewsThe past year has seen the emergence of new trading trends in the Euro-Med region with rising energy costs, an increase in exports from non-European countries and growing demand for supplementary cementitious materials. DSG Consultants illustrates the new trading patterns observed in the Mediterranean area, plus provides an outlook for 2023. By Sylvie Doutres, DSG Consultants, France. New trading trends are emerging in the Euro-Med region as energy costs as well as exports from non-E... |
New slide in oil pushing coal lower and petcoke below US$100 due to demand fears after new rate hikes22 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark IMF downgraded global growth to 2.8 per cent and warned of a “rocky recovery” due to inflation and falling demand. The US Federal Reserve (Fed) and the European Central Bank (ECB) continued the interest rate hikes with a further 0.25 per cent, leading to rates of 5.25 and 3.75 per cent for the Fed and ECB, respectively, and market fears of falling demand. Combined with the usual US debt ceiling theatre, this has sent the equity market and e... |
Kenyan clinker imports set for additional tax09 May 2023, Published under Cement NewsKenyan producers of clinker are being boosted with the proposal to introduce a new tax as the State moves in to protect local industry. The export and investment promotion levy is a new tax that the William Ruto administration is seeking to impose on imported goods that can be made in Kenya to boost the local manufacturing industry. The Kenyan state government has, through the Finance Bill 2023, proposed the export and investment promotion levy rate on imported clinker at the rate of 10 p... |
Bangladesh cement exports show an upward trend in 10MF22-2305 May 2023, Published under Cement NewsBangladesh has reported 38 per cent YoY growth in cement export revenue to US$10.72m in the 10MFY22-23 (July 2022-April 2023). This compares to US$7.77m in the same period a year earlier. The value of the target set for this period also saw a healthier growth of 19.5 per cent. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone and related products. Most of the cement exports were shipped to neighbouring countries. For the f... |
Coal price find supports while petcoke sees sharp fall01 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Oil prices support the full energy complex and OPEC+ announced new production cuts totalling 1.6mb/d. Oil prices have risen from US$72/bbl to a high US$88/bbl but are now in their former range of US$80-90/bbl at US$81/bbl. Coal prices are finding support among strong supply and are stabilising at US$132 for the API4 contract. As expected, petcoke prices have fallen sharply below US$100, the first time since 2021, with discounts compared to... |