Cement News tagged: Trading
Local Pakistan cement dispatches contract while exports sustain levels
In 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 ...
Israel-Gaza war drives coal higher with petcoke reversing its drop
By 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 wit...
Pakistan's central bank reports fall in exports in FY22-23
The 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 declin...
Carbon price keeps falling, driven by lower gas and coal prices
By 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 rang...
Pakistan's cement and clinker exports grow 44% in 3MFY23-24
Pakistan’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. ...
Drop in oil, reversed by new Middle East situation adding uncertainty, while petcoke discounts attract buyers again
By 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 ...
Oman and UAE sign agreement on limestone exports
Oman 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 enha...
PIBTL reap benefits from PKR appreciation to reduce exchange losses
Pakistan 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 l...
Saudi Arabian exports top 11Mt
Saudi 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 o...
Coal continues recovery while petcoke sees sharp fall
By Frank O. Brannvoll, Brannvoll Aps, Denmark Coal has continued its recovery with a higher energy complex, consolidating in the US$110-140 range and balancing Russian supply. Petcoke saw a sharp fall on increased supply, leading to a switch to coal as the discount fell to low levels. Both grades are now below US$100 and pushed down by freight. The increased FOB discount is expected to...
Bangladesh posts 101% cement export revenue growth in 3MFY24
Bangladesh has recorded 100.9 per cent YoY growth in cement export revenue to US$4.38m in the first three months (July-September 2023) of FY23-24 from US$2.18m earned in the same 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 target of US$3.38m for three months was also surpassed ...
Ukraine ready to lift import duty on Moldova
Ukraine is ready to end its anti-dumping duty on cement from Moldova by the end of 2023, according to the Ministry of Economic Development and Digitalisation of Moldova. The announcement comes after a meeting between the co-chairs of the Moldovan-Ukrainian Interdepartmental Commission on International Trade in Odessa. Along with the duty removal, the two countries also agreed to help remove...
Pakistan to expect a mixed trend in dispatches in September
The cement dispatch trend in Pakistan will likely be mixed in September 2023 due to monsoon rain and transport issues, according to Topline Pakistan Research. However, the All Pakistan Cement Manufacturers Association (APCMA) has yet to release official data to support or contradict this scenario. A mixed trend of dispatches was recorded during the first two months of the current financial ye...
White cement anti-dumping duties issued in South Korea
South Korea is to impose anti-dumping duties on white Portland cement imported from Egypt, said the industry ministry. Following a preliminary examination, the Korea Trade Commission (KTC) recommended the Ministry of Finance to levy provisional duties of 72.23 per cent on Egyptian white cement imports to protect the local cement industry while it carries out an additional probe. The probe ...
Nova Marine Carriers ship grounds in St Lawrence River
Two tugs have been dispatched from Montreal to assist the NACC Argonaut, a cement carrier that ran aground on Sunday morning on the St Lawrence River near Cornwall in Ontario. Nova Marine Carriers’ 13,977dwt ship is partially laden and was built in 2003. Traffic along the river has been suspended with authorities concerned that the cement carrier has taken on water. The ship has developed a...
EUA stuck in range trading – while UK price hits new low
By Frank O. Brannvoll, Brannvoll ApS, Denmark Lack of political news kept the market in a range drifting slightly lower due to lower gas prices, fear of industrial demand destruction as interest rates kept rising, as well as weaker equity markets spilling into traders sentiment. The European Commission has proposed that industrial companies must include emission reduction plans with five...