Cement News tagged under: trading
CMA suspends trading of shares in Raysut Cement28 November 2022, Published under Cement NewsThe Capital Market Authority (CMA) has suspended the trading of shares in Oman-based Raysut Cement SAOG after material misrepresentations were spotted in the company’s unaudited financial reports for the second quarter of 2022, published on 10 November 2022. According to the Oman Daily Observer, the misrepresentations were picked up during an audit of the results as they were inconsistent with international accounting standards and therefore the results do not reflect the real financial... |
EUA prices consolidate at higher level awaiting policy decisions28 November 2022, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The increase in fossil fuels use for power generation is keeping the demand for EUAs relatively high. However, a mild winter start and a falling energy complex temper this trend. Therefore, a rally above EUR80 is not expected in the short term as an economic slowdown is expected to lead to demand destruction. Speculators have reduced their presence in terms of size and more short positions have been seen. The market is now awaiting politica... |
Energy complex under interest rate pressure – coal falls sharply on lower demand while petcoke stable and discount neutral25 November 2022, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Leading central banks raised rates again by 0.75 per cent, with promises of more to come as inflation is persistent as sanctions are still keeping energy prices artificially high in Europe. The EU has not agreed on any common measures as these are very hard to introduce in a free market. However, the threat of demand destruction combined with a warm start to the winter has put pressure on the overall energy complex. Gas prices have been fal... |
Vicem signs agreement to export 6Mt to the Philippines25 November 2022, Published under Cement NewsVietnam Cement Industry Corp (Vicem) has signed an agreement with Fenix (CEZA) International Inc and Gold Falcon Trading Corporation to export 6Mt of cement and clinker to the Philippines in 2023-25, reports Vietnam News Brief Service. Vicem currently operates 10 cement plants with a total production capacity of over 25Mta of cement and 21Mta of clinker. Its sales reportedly account for almost 33 per cent of Vietnam’s total cement and clinker sales and 23 per cent of its exports. Eac... |
Bangladesh earns cement revenue of US$2.77m in 4MFY2315 November 2022, Published under Cement NewsDuring the first four months (July and October) of FY22-23 (July-June), Bangladesh exported cement worth US$2.77m compared to US$2.44m in the same four months last year. This translated to a growth of 15.42 per cent but was down on forecast (-16.06 per cent ) to reach the target of US$3.3m set for these months of the ongoing fiscal year. The figure also includes a minor amount of salt, stone and related products, says the Bangladesh Export Promotion Bureau (EPB) data. Bangladesh has set a... |
Energy complex falls on slower economies and EU stock refill11 November 2022, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Since ICR’s most recent energy report, the energy complex is falling as higher yields slow economies and EU purchases have slowed following full stocks. Russia’s continued discounts on coal see prices slip with API4 coal now trading at US$238. Oil is stabilising above US$90 after OPEC+ cut supply by 2mbpd. In Europe gas prices have been slipping as reservoirs are being filled and the weather stays warm. Steam coal and petcoke prices FOB... |
National Cement Factory to import clinker31 October 2022, Published under Cement NewsNational Cement Factory LLC (NCF), UAE, will import 600,000t of OPC clinker divided into equal monthly quantities of 50,000t (with ±10 per cent margin), starting from 1 December 2022, until the end of November 2023. To meet this requirement, NCF issued an official international tender with a due date of 8 November from vendors. NCF is a subsidiary of Ittihad International Investment LLC, which operates out of the Industrial City of Abu Dhabi. NCF runs a state-of-the-art two-mill gri... |
EUA prices stay low due to recession fears and political uncertainty in the market26 October 2022, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark European carbon emissions were up eight per cent in the first three quarters of 2022 when compared to 2021. This is based on the sharp increase in coal- and oil-driven power production. The political debate of repowering the EU and the potential selling of 250m allowances has been hanging over the market. Increased auctions and the lower production seen in several industries, combined with several speculators going short, kept the market... |
Coal and gas lower, while petcoke continues upwards, driven by demand from India and China25 October 2022, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The same geopolitical factors as last month are dominating the energy markets. The persistently-high inflation is driving the agendas of the central banks with higher interest rates, stating they will push even harder despite a looming recession. As industry and citizens save energy due to the high prices, demand in many markets is contracting sharply. Politicians are trying to introduce different measures in the EU to curb prices with wind... |
Ghana cement prices rise again25 October 2022, Published under Cement NewsCement prices is Ghana have risen to over GHC80(US$5.91)/50kg bag of cement on the back of rapid depreciation of the cedi against the dollar. The depreciation has triggered massive inflation, causing the price of cement to increase by up to 10 per cent in a matter of weeks. The increase is expected to push up the cost of construction in the country, leading to a rise in real estate prices, according to YEN. With some of the raw materials used to make cement imported in dollars, Ghanaian pr... |