Cement News tagged: Trading
Pakistan's bagged cement export revenue reaches US$266.51m in FY23-24
Pakistan’s cement and clinker exports increased by 40.4 per cent to US$266.51m in the FY23-24 (July 2023-June 2024), from US$189.87m in the FY22-23, according to Pakistan Bureau of Statistics (PBS) data. In Pakistani rupee terms, export revenue saw a significant growth of 57.8 per cent to PKR75.46bn during the period, sustained by the local currency’s stable competitive rates against the US do...
Nepal’s cement and clinker export triple to NPR3.85bn
Cement and clinker exports from Nepal tripled to NPR3.85bn (US$28.7m) in FY23-24 when compared with exports in the previous year. According to Department of Customs data export earnings from cement were NPR1.97bn and those from clinker were NPR1.88bn. The surge has been attributed to the introduction of an eight per cent cash incentive on the export of mine-based products by the government...
Carbon market recovers from steep decline, supported by speculative buying and European and French election outcomes
By Frank O. Brannvoll, Brannvoll ApS, Denmark The political influence in the EU ETS market was underlined during June, where the market fell sharply up to the 9 June parliamentary election. The market recovered towards EUR70 as the result materialised, and the fear of a major shift to the right vanished as the centre right parties of the EP kept a majority and the re-election of Van der Ley...
Oil higher on positive demand forecasts and geopolitical risk while coal and petcoke lower
By Frank O. Brannvoll, Brannvoll ApS, Denmark Political risk and central banks were key in energy developments in the June-start of July period. The European Central Bank (ECB) and US Federal Reserve (Fed) both restated that interest rate cuts depend on the inflation rate nearing two per cent. The ECB hinted at two more rate cuts and the FED at possibly one. The centre-left election resu...
Cochin Port opens fourth terminal
A new cement terminal has entered operation on a 1.14ha plot at Ernakulam Wharf, Kerala, India. The Cochin Port Trust launched the port’s fourth terminal, which is expected to handle 0.3Mta of cement. The first vessel to enter the terminal was the Penna Suraksha, the largest self-discharge vessel in Asia with a discharge capacity of 1000tph. The 25,000t cargo from Krishnapatnam will be bagge...
Senegalese cement imports not subject to higher taxes
Gambia will not levy higher taxes on cement imported from Senegal, confirmed Gambia's Minister of Trade, Industry, Regional integration and Employment, Mr Baboucar Ousmaila Joof. Mr Joof explained that the excise tax is levied on imported bagged cement regardless of its source, justifying that the measure doesn't target any specific country as that would constitute discrimination. “Past stu...
Petcoke discounts offer potential
Coal prices moved slightly higher with oil and geopolitics stabilising to surpass the US$110 mark on 21 June 2024. However, the risk is growing with the latest developments in the Israel-Hezbollah conflict. Petcoke FOB prices pushed higher on demand and coal prices as Venezuelan material. Petcoke discounts decreased slightly and are still in the cheap zone, offering potential. Coal FOB...
Vietnam cement exports drop 10.8% in 1H24
Between 2019 and 2022, the average export value of cement and clinker ranged from US$1bn to US$1.3bn annually. However, in 2023, export earnings sharply declined due to falling prices. The average Free On Board (FOB) price of clinker fell to US$31-32/t in May 2024, a notable decrease from US$46-48/t in 2022. The country’s Ministry of Construction (MoC) cited an increase in the tax on clink...
US considering carbon pricing for imports
The US is looking to a potential carbon pricing system for goods and services imported into the country as part of a wider carbon policy. The step is a key policy shift as it looks to counter Chinese industrial competition and reduce emissions. John Podesta said the US would fight against “freeriding” by foreign producers of carbon-intensive industrial imports, in an interview with the UK Fi...
Power Cement Ltd tapped new export markets, including the US and UK
Power Cement Ltd held its analyst briefing on 26 June, during which management reviewed past performance and looked ahead. The company posted a loss of PKR1.2bn (US$4.32m) in 9MFY23-24 compared to a profit of PKR0.6bn in the previous period. Top company officials primarily attributed the loss to higher financial charges (up 39 per cent YoY) during the period amidst elevated interest rates. ...
Volatile EUA market lead by gas price moves, turning bearish on increased fear of EP election outcome
By Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market saw a marked increase at the end of May as the gas market rose sharply in fear of Norwegian production cuts. The carbon price reached EUR78, but has since dropped as Norwegian producers have assured the market of supply. The EUA price fell sharply and in combination with the European Parliamentary elections on 9 June, as sev...
ECB lowers interest rate while reduced OPEC+ production cuts send oil lower – China discusses ban on >3% sulphur petcoke
By Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitical risk premiums slowly vanished and need new events to return. Meanwhile, at the start of June, the focus turned towards OPEC and the central banks. The European Central Bank (ECB) delivered its first cut of 0.25 per cent since 2019, giving equities a boost. However, the US Federal Reserve is still seen on hold until at least Sept...
Pakistan's cement export growth unabated in 11MFY23-24
Pakistan's cement and clinker exports increased by 40.5 per cent in the 11MFY23-24 (July 2023-May 2024) to US$236.79m, from US$168.58m in the 11MFY22-23, the Pakistan Bureau of Statistics (PBS) data said. In Pakistani rupee terms, export revenue saw a significant growth of 61.1 per cent to PKR67.19bn (US$241.1m) during the period, sustained by the local currency's competitive rates against the...
MPA responds to government proposals for a UK CBAM
Government proposals for a UK carbon border adjustment mechanism (CBAM) have been welcomed by the UK cement industry, but the Mineral Products Association (MPA) and UK Concrete say it has to happen by 2026. A CBAM in the UK is also important to reduce the risk of high-emission cement undercutting domestic production and flooding the UK market. Cement imports already account for 30 per cent ...
Gambia to temporarily allow Senegal imports
Gambia’s government has announced a temporary re-opening of its border with Senegal to allow the delivery of cement that has been held up at the border for several weeks, reports Bénin Web TV. The step will help to meet domestic market requirements. Since 16 May 2024, many cement trucks have been help up at the border, causing disruptions in building material supply to Gambia. The Cement Impo...
Substantial growth in Bangladesh's cement exports during 11MFY24
Bangladesh's cement industry has experienced significant export growth during the 1MFY24. The sector recorded a 34.3 per cent YoY increase in cement export revenue, reaching US$16.81m during the 11MFY23-24. This marks a substantial rise from US$12.52m in the corresponding period of the previous year and includes certain salt, stone, and related products. Cement exports also grew by 23.4 per ce...