Cement News tagged: International

Coronavirus uncertainty likely to flatline Indian cement prices

23 March 2020, Published under Cement News

Due to the uncertainty caused by the coronavirus in the Indian construction industry, cement prices are likely to stagnate in the country, according to industry sources and sector analysts. “Coronavirus’ impact is not felt as yet in construction activity. It is unlikely to be affected in the near term unless there is a major economic slowdown all across," Sandip Ghose, chief operating office...

Indonesia: sluggish local demand in February as export conditions to China deteriorate

27 March 2020, Published under Cement News

The Indonesian Cement Association (ASI) noted the rate of YoY decline in national cement consumption has slowed to -0.1 per cent in February from January's position, which was -7.5 per cent. In addition, export volumes, which had surged 40 per cent in January, dropped by 27.9 per cent to 440,000t in February. "It is unfortunate that our cement and clinker exports, which we hope can improve ...

US fuel-grade petcoke market advances on Indian and Chinese demand

20 March 2020, Published under Cement News

Indian demand for petcoke is reported to remain strong due to the desacceleration in Saudi refining and higher interest from China. This is leading to a strengthening of the US fuel-grade petcoke market. However, demand from the cement industry has seen a decline. “Cement demand is very low,” said a Miami-based trader to Platts Coal Trader. “Plants are shutting down for a few months because th...

Negative sentiments in Pakistan Stock Exchange

20 March 2020, Published under Cement News

The Pakistan Stock Exchange (PSX) has lost more than 2200 points on the 100 index on 18 March and across the board. All major scripts, including the cement industry turned red, causing huge losses to investors. The market reacted negatively on the announcement of a meagre cut in interest rate by the Central Bank of Pakistan after four years. The State Bank announced 75 basis points reduction i...

Pakistan sees mixed 7MFY19-20 cement production data  

Pakistan sees mixed 7MFY19-20 cement production data  

19 March 2020, Published under Cement News

Pakistan's Federal Bureau of Statistics (PBS) has released production data for the period July 2019- January 2020 with a note that overall output of large-scale manufacturing industries (LSMI) decreased by 3.4 per cent during the 7MFY19-20 when compared to the equivalent period of the previous year. However, more surprisingly, the LSMI output decreased by just under six per cent for January 2...

Cambodia has not yet seen a slowdown in cement sales over COVID-19

19 March 2020, Published under Cement News

The coronavirus has not had a significant impact on the cement and other construction material markets in Cambodia, which are retaining strong demand at present. The Cambodian construction sector reports no slowdown in demand because of the COVID-19 pandemic, while cement prices are holding up. "Demand remains strong for cement and building materials due to infrastructure development, urbani...

Australian contractors on the brink of collapse

Australian contractors on the brink of collapse

19 March 2020, Published under Cement News

Australia's construction industry is said to be on the brink of collapse, according to John Holland's CEO, Joe Barr. The building contractor reported losses of US$1bn in February and is in dispute with Transurban over who should pay for cost blow-outs caused by delays on Melbourne's AUD6.7bn (US$1.79bn) West Gate Tunnel project. "I won’t sugarcoat it," Mr Barr told The Australian Financial ...

The Korean Cement Association joins the WCA

19 March 2020, Published under Cement News

The World Cement Association (WCA) has announced that it is welcoming the Korea Cement Association (KCA) as an affiliate member of its international network. "KCA has a long history supporting the advancement of the cement and concrete industries locally, and we look forward to working with them in a global context,” explains Ian Riley, CEO at WCA. "It’s important for us to have a diverse mem...

Oman announces measures to ensure cement supply

18 March 2020, Published under Cement News

Oman's Ministry of Commerce and Industry (MOCI) has announced measures to ensure there will be no shortage of cement in the market. "The Ministry will coordinate with Omani cement companies to ensure supply in all governorates and look at an increase in operational capacity to cover shortages, if any," said a notice on social media. The MOCI will also make clearances for imported shipmen...

MPA calls for a ‘cash bridge’ for members

18 March 2020, Published under Cement News

The Mineral Products Association (MPA) has written to the Chancellor of the Exchequer calling for greater support for businesses in the UK during the COVID-19 pandemic. Nigel Jackson, MPA CEO, called for a general facility to delay VAT, corporation tax and employers' National Insurance contributions as a way to help member companies facing extreme economic conditions. He wrote: "Businesses n...

Pakistan cuts interest rates and releases coronavirus economic package

18 March 2020, Published under Cement News

State Bank of Pakistan (SBP) on 17 March announced three measures to support the economy and public health in response to the challenges posed by the spread of COVID-19. It reduces the interest rates and has enabled a special package for industry, including cement plants, as well as measures to meet the challenges of the coronavirus pandemic. First measure According to an official statement...

Andhra Pradesh producers to reduce prices for government projects

18 March 2020, Published under Cement News

Cement companies based in Andhra Pradesh, India, have decided to reduce cement prices for government projects following a request from the state’s Chief Minister, YS Jagan Mohan Reddy. PPC has been priced at INR225 (US$3.03), while OPC is around INR235. These prices are the lowest compared to that of any year between FY15-16 and FY19-20, according to The Hans India. The estimated requiremen...

Pakistan records 28% growth in export of cement/clinker 8MFY20

17 March 2020, Published under Cement News

All Pakistan Cement Manufacturers' Association (APCMA) has reported that country saw a growth of 28 per cent in cement and clinker exports during first eight months of the ongoing financial year 2019-20. It reached 5.939Mt in 8MFY19-20 and can be attributed to an increase in cement exports to Afghanistan and unprecedented surge in clinker exports to the global market.   However, Pakistan'...

Cement and construction sectors struggle despite net FDI growth

17 March 2020, Published under Cement News

The State Bank of Pakistan (SBP) has released foreign direct investment (FDI) data for February 2020 and eight months of the current financial year 2019-20. It showed that the country received US$2.24bn against US$2.36bn in the corresponding July-February period of the last fiscal year of 2018-19.   In February 2020 FDI inflows amounted to US$332.5m compared to US$179.1m in the corresponding ...

Israel to readmit cement into Gaza

17 March 2020, Published under Cement News

The Israeli authorities have decided to allow the entry of cement in the Gaza Strip through the Kerem Shalom (Karm Abu Salem) commercial crossing, according to the Palestinian Authority. Israel had previously blocked the entry of cement into Gaza and hundreds of factories have closed as a result of a lack of raw materials entering Gaza.

Detained vessel allowed to sail from Bangladesh, as no coronavirus found

16 March 2020, Published under Cement News

The Bangladeshi port authority Mongla Port did not find any symptoms of COVID-19 in the crew of the bulk carrier Serenitas N, which later off-loaded imported coal at birth and sailed on 15 March, say Bangladesh shipping industry sources. On arrival in the first week of March the vessel carrying the flag of the Marshall Islands had suspended off-loading of imported coal at Mongla, due to suspi...