Cement News tagged under: trading
Pakistan cement exports continue mixed trend in 11MFY22-2321 June 2023, Published under Cement NewsThe cement industry in Pakistan continued to experience a mixed picture in export revenue during the first 11 months of the current financial year, which runs from July 2022 to June 2023. While the income earned in US dollars decreased, the Pakistani rupee improved due to the currency's devaluation. BMA Capital, in a research report on the cement industry, commented that the prospect of exports serving as a viable solution for new cement capacities appears reasonable. Analysts anticipate ... |
Coal ash laden vessel sinks in Bangladesh21 June 2023, Published under Cement NewsChittagong Port of Bangladesh has reported that a local vessel carrying coal ash for cement and other industries sank in the Alpha Anchorage area of the port on 14 June. According to local sources, the MV Delower Al Bahar, carrying 800t of coal ash, sank due to hostile weather in the outer anchorage of the Chattogram port. Bangladesh Inland Water Transport Authority officials said the vessel sank after its floor ruptured with crew on board the lighter ship jumping into the sea when it sta... |
Pakistan's cement industry faces significant challenges12 June 2023, Published under Cement NewsOn 9 June the State Bank of Pakistan (SBP) released the “Pakistan Economic Survey FY23”, critically reviewing all sector performance, including the cement sector in 9MFY22-23 and the remaining months of FY22-23. While commenting, Topline Pakistan Research said the outgoing year was one of the worst periods in Pakistan’s recent economic history. Pakistan’s GDP growth is provisionally estimated at 0.3 per cent for FY22-23 as against the target of five per cent for FY22-23 and 6.1 pe... |
Lucky Cement urges govt to take export measures07 June 2023, Published under Cement NewsPakistan's business tycoons and economic experts, including the cement industry conglomerate Lucky Cement, have suggested a media debate on the forthcoming federal budget 24, to be presented in parliament on 11 June 2023. The country aims to apply for another International Monetary Fund (IMF) programme to fulfil its growing foreign debt repayment issues and other liabilities. Recall that the IMF has not yet released the US$1.1bn loan tranche, originally due in November 2022. This altoget... |
Bangladesh cement exports surpassed export in 11MF22-2307 June 2023, Published under Cement NewsBangladesh has reported 43.9 per cent YoY growth in cement export revenue to US$12.52m in the first 11MFY22-23 (July 2022-May 2023). This compares to US$8.7m in the same period a year earlier. The value of the target set for this period also saw a hefty growth of 26 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 full F... |
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... |