Cement News tagged under: trading
DG Khan Cement is exploring Mexico to export cement from Pakistan29 November 2023, Published under Cement NewsAccording to AKD Research, DG Khan Cement Co Ltd (DGKCC) held its corporate briefing on 24 November to apprise investors of its FY22-23 financial results and the company’s future outlook. DGKC recently exported two shipments to Mexico and four shipments to the USA. Management is actively focussing on exports to increase capacity utilisation. It expects higher clinker exports this year, but the impact would not be significant as clinker exports have minimal margins. However, margins on c... |
Energy complex lower on fading war premium while petcoke discounts fall as coal retraces28 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The Israel-Gaza situation seems to be contained from spreading and the war premium has quickly faded as no disruptions in any markets have been seen. The focus has now shifted back to demand and supply. The two major central banks kept their rates unchanged in the October meetings, keeping to the “higher for longer” rhetoric with inflation still too high for both the US and EU central banks. China’s growth, particularly in the property market... |
Rupee appreciation continues to sustain cement exports from Pakistan23 November 2023, Published under Cement NewsPakistan’s cement industry has registered significant growth in cement and clinker exports during the first four months of FY23-24 (July-October 2023) due to the continued depreciation of the Pakistani rupee and the falling coal prices. Pakistan’s cement and clinker exports increased by around 40.5 per cent in the 4MFY23-24 to US$93.08 (2.405Mt) compared to US$66.27m (1.324Mt) in the 4MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In terms of volumes, exports increased by 81.69... |
Korea's white cement levy on Egypt begins20 November 2023, Published under Cement NewsSouth Korea’s anti-dumping duty on white Portland cement from Egypt has begun. The 72.23 per cent levy started on 15 November 2023 and will last for four months. The move is designed to protect Korea’s local industry from imports after Korean white cement producer Union filed a complaint to the Korea Trade Commission in March this year against Egypt’s Royal El Minya Cement and Albatros International Cement Trading. Union stated that cheap imports from Egypt were negatively affecting i... |
PIBT saw a host of economic challenges in FY22-2316 November 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) said in its annual report that during FY22-23, the company’s business was affected by the volumes handled, which lowered from 8.243Mt last year to 4.842Mt for the year ending 30 June 2023. It attributes the fall to the country's macroeconomic challenges, such as the high level of inflation, increased interest rates, devaluation of the Pakistani rupee against the US dollar, reduced economic activity and import restrictions. As a terminal o... |
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... |