Cement News tagged under: trading
Bangladesh surpassed the cement export target in 4MFY23-2408 November 2023, Published under Cement NewsBangladesh has recorded 101.8 per cent YoY growth in cement export revenue to US$5.59m in the first four months (July-October 2023) of FY23-24 from US$2.77m earned in the same four months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. A 20.2 per cent YoY also surpassed a target of US$4.65m for months. Bangladesh had set a higher target export revenue of US$15m for FY23-24 against US$... |
Local Pakistan cement dispatches contract while exports sustain levels07 November 2023, Published under Cement NewsIn October 2023 Pakistan's cement industry faced a decline in local dispatches due to the constraints in the domestic market, while exports remained steady owing to the potential for overseas revenue. According to data from the All Pakistan Cement Manufacturers Association (APCMA), total dispatches fell by 5.8 per cent to 4.007Mt in October 2023, compared to 4.253Mt dispatched during the same period in the previous year. The APCMA report indicates that local cement deliveries declined to 3.2... |
Israel-Gaza war drives coal higher with petcoke reversing its drop03 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal was driven higher by the energy complex responding to the Israel-Gaza war and is now at the top of the US$100-140 range. Petcoke reversed its fall as its discount increased, creating a switch from coal. After reaching the major support at US$80, petcoke bounced back and will now follow coal, possibly at the top of the range. Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range with resistance at US$95, US$105, US$... |
Pakistan's central bank reports fall in exports in FY22-2326 October 2023, Published under Cement NewsThe State Bank of Pakistan (SBP) released its annual report on the State of Pakistan’s Economy for the fiscal year 2022-23 on 23 October. In a brief review report on cement, the central bank stated that in line with subdued construction activity, cement production declined sharply by 13.7 per cent during FY23, compared to a 3.6 per cent drop in FY22. Furthermore, cement exports declined due to the economic slowdown in destination countries such as Sri Lanka, China and Bangladesh. Mo... |
Carbon price keeps falling, driven by lower gas and coal prices25 October 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market was almost unchanged at EUR81 after having reached EUR86, but lower oil, gas and coal prices pushed the EUA downwards. As the support of EUR84 was again breached, technical selling from speculators also increased. The increased auctions kept adding selling pressure to the market. The price is still seen in a EUR80-88 range but may test the major support at EUR78. EUA front-year contract, January 2022-October... |
Pakistan's cement and clinker exports grow 44% in 3MFY23-2420 October 2023, Published under Cement NewsPakistan’s cement industry has sustained a noteworthy growth in cement and clinker exports during the first quarter of FY23-24 (July-September 2023) due to the continued depreciation of the Pakistani rupee and the falling coal prices. However, the average value of these exports remained weaker. It fell to US$39.82/t from US$49.23/t but saw a growth in Pakistani rupees during this period. Pakistan’s cement and clinker exports increased by around 43.9 per cent in the 3MFY23-24 to US$66.6... |
Drop in oil, reversed by new Middle East situation adding uncertainty, while petcoke discounts attract buyers again20 October 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark A geopolitics crisis emerged with the Hamas attack on Israel at the beginning of October. The European Central Bank raised interest rates 0.25 per cent but is behind the US Federal Reserve (Fed). This has strengthened the US dollar as the Fed still talks of keeping rates high for longer. The two per cent inflation target is still far away. In October the fear surrounding China’s property market re-emerged and, along with higher interest rate... |
Oman and UAE sign agreement on limestone exports18 October 2023, Published under Cement NewsOman and the Etihad Rail Co(OERC) have signed an agreement with Emirates Steel Arkan to facilitate the export of raw limestone from Oman to the UAE. According to Gulf News Reporter, OERC will provide logistics solutions for the transportation of 4-6Mta of limestone, which Emirates Steel Arkan plans to import from Oman to its cement factories in Al Ain, UAE. “Our collaboration with OERC enhances our supply chain capabilities by leveraging the railway network that connects both countries,” ... |
PIBTL reap benefits from PKR appreciation to reduce exchange losses18 October 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) will benefit from Pakistani rupee currency appreciation against the greenback. The rupee is getting stronger due to administrative measures. PIBTL was incurring losses due to exchange losses. According to Spectrum Research, the strengthening of rupee against the dollar by four per cent since June 2023 is poised to mitigate the foreign exchange losses, as the PIBTL holds foreign currency-denominated loans of approximately US$18.4m. Moreover... |
Saudi Arabian exports top 11Mt18 October 2023, Published under Cement NewsSaudi Arabia exported a total of 11.33Mt of cement and clinker in the 21-month period covering 2022 and the opening nine months of 2023. The figures from the Saudi Trade Ministry mark a notable ramp up in output by the country’s cement producers. Exports were primarily destined for Jordan, Yemen, Bahrain, Iraq and Bangladesh, reports Zawya. In 2022 Saudi Arabia received a total of 181,000t of cement and clinker as construction activity stepped up following COVID-19. Key markets for importe... |