Cement News tagged under: trading
Indian fair trade regulator approves UltraTech’s acquisition of Kesoram cement business21 March 2024, Published under Cement NewsThe Completion Commission of India (CCI) has approved UltraTech Cement ’s proposed acquisition of Kesoram Cement Business , the cement arm of Indian conglomerate Kesoram Industries Ltd . The business is set to be acquired by Mumbai-based UltraTech, as part of a deal made on 30 November 2023. The all-share deal will see UltraTech Cement purchase Kesoram Cement at a valuation of INR76bn (US$914.1m) and will include all the company’s debts. The CCI has also announced its approval of S... |
Mixed Pakistan export revenue trend in 8MFY23-2419 March 2024, Published under Cement NewsPakistan’s cement industry has registered noticeable growth in the first eight months of FY23-24 (July 2023-February 2024), due to the continued good exchange rate of the Pakistani rupee against foreign currency and other factors. Pakistan’s cement and clinker exports increased by 39.3 per cent in the 8MFY23-24 to US$163.9m (4.245Mt), compared to US$117.69m (2.473Mt) in the 8MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant ... |
Bangladesh cement export momentum continued in 8MFY23-2411 March 2024, Published under Cement NewsBangladesh has recorded a 51.9 per cent YoY growth in cement export revenue to US$12.35m in the first eight months of FY23-24 (July-February 2024) from US$8.13m in the same corresponding months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. The 24.1 per cent YoY rise in cement exports also surpassed the target of US$9.95m for 8MFY23-24. Bangladesh had set a higher target export reven... |
Pakistan cement industry exhibits record quarterly profit in 2QFY23-2408 March 2024, Published under Cement NewsPakistan's listed cement sector reported record earnings of PKR22.4bn (US$58.18m), up eight per cent YoY in the 2QFY23-24. This earnings growth is primarily due to higher gross margins and other income. Major contributors to the profitability of the cement sector in the 2QFY23-24 were Lucky Cement (LUCK), followed by Bestway Cement (BWCL) and Fauji Cement (FCCL), according to Topline Pakistan Research, Analysts believe these achievements were made despite a fall in cement dispatches. ... |
FOB and ARA discounts narrow01 March 2024, Published under Cement NewsCoal stabilised on support at a level of around US$90/t, pressured by gas prices but supported by oil. Continued freight issues in the Suez Canal and the Red Sea are supported the price of oil. Petcoke FOB contracts were stable but after buying for the 1Q24 was completed, trade was low. Discounts on FOB contracts remained stable in the neutral zone, but discounts on ARA contracts fell, returning to neutral as the API2 coal price dropped. Petcoke with 6.5 per cent S is expected to continu... |
Carbon price collapses due to political uncertainty and speculative pressure – major support tested28 February 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Sharp falls were seen in the European carbon market, as several political factors from demonstrations and political uncertainty hit the market during January and February. This, in combination with the ongoing lower energy complex, especially gas and coal, has sent the price for the Dec 24 contract to EUR60, the lowest seen for years. Speculators have also been seen to shorten the market as large auctions to finance the Repower EU funds are be... |
Alaskan port sees cement shipments jump by a third27 February 2024, Published under Cement NewsAlaska’s Don Young Port saw cement shipments increase by around one-third in 2023, compared to the previous year. The port handled almost 155,000t of cement last year, accounting for about 80 per cent of the cement used in Alaska. According to Anchorage Daily News, this marks the highest volume of cement shipped across the port since at least 2007. If the last 12 months are anything to go by, 2024 should bode well for Alaska’s construction industry. Four vessels carrying cement usuall... |
Pakistan’s cement industry exports exhibit mixed trends21 February 2024, Published under Cement NewsPakistan’s cement industry has registered significant growth in the first seven months of FY23-24 (July 2023-January 2024) due to the continued good exchange rate of the Pakistani rupee against foreign currency and other factors. AKD Research believes that the recent decline in international coal prices, dropping to US$92/t following reduced winter demand from Europe, presents a favourable development for the cement industry for local and exports. Pakistan’s cement and clinker exports inc... |
Politics dominates the energy market, oil stabilises but coal drifts lower while petcoke rises on lower freight rates20 February 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The oil price remains subject to a risk premium due to the Israel-Gaza conflict. Providing the situation does not escalate, the market hovers around US$80. Meanwhile, the Ukraine-Russia war is still deadlocked, but the political stage in Europe and potential US election is lurking, making negotiations more likely. In the financial markets both the European Central Bank and the US Federal Reserve have kept rates unchanged and have a two pe... |
WCA launches CBAM communication campaign19 February 2024, Published under Cement NewsThe World Cement Association (WCA) is working to support the roll-out of the EU’s Carbon Border Adjustment Mechanism (CBAM) by joining its stakeholder communication campaign. The goal of the CBAM communications campaign is to inform, explain and facilitate information about CBAM, namely its reporting requirements, methodologies for calculating emissions and how the CBAM transitional registry works. The WCA recognises the importance of providing its members with the necessary tools and res... |