Cement News tagged: Trading

OPEC+ actions lift oil and the energy complex – coal and petcoke fall to 2020 levels on lower demand

30 June 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark The markets are still caught in the fear that higher interest rates to fight inflation could start a recession and see demand fall. The market expects both the US Federal Reserve and European Central Bank to increase rates but at a slower rate to enable current levels to take effect. The US debt ceiling agreement reduced market fears and saw equ...

Provisional dispatches data show a mixed trend in June 2023

26 June 2023, Published under Cement News

All Pakistan Cement Manufacturers Association (APCMA) is yet to release  overseas and local cement dispatch data. Local cement sales are expected to grow by two per cent MoM in June 2023, but down 16 per cent YoY in the FY22-23 (July 2022-June 2023), according to a local research house. Topline Securities said Pakistan’s total cement sales in June 2023 are expected to increase by two ...

Lafarge Algeria increases cement exports in 1H23

26 June 2023, Published under Cement News

Lafarge Algeria ( Holcim ) has announced improved export results for the 1H23. Thanks to the support of the Algerian authorities and close collaboration with its partners, Lafarge Algeria exported nearly 1.7Mt of products, 39 per cent of which were 'cement' finished products  valuing more than US$80m. Volumes were helped by the start up of the  automatic shiploader at Djenden Port, wit...

Pakistan cement exports continue mixed trend in 11MFY22-23

21 June 2023, Published under Cement News

The 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 exp...

Coal ash laden vessel sinks in Bangladesh

Coal ash laden vessel sinks in Bangladesh

21 June 2023, Published under Cement News

Chittagong 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 vesse...

Pakistan's cement industry faces significant challenges

12 June 2023, Published under Cement News

On 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 e...

Lucky Cement urges govt to take export measures

Lucky Cement urges govt to take export measures

07 June 2023, Published under Cement News

Pakistan'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 t...

Bangladesh cement exports surpassed export in 11MF22-23

07 June 2023, Published under Cement News

Bangladesh 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 re...

APCMA reports 19% increase in cement dispatches in May 2023

09 June 2023, Published under Cement News

The 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 ...

Bangladesh’s clinker imports more expensive in new budget FY23-24

05 June 2023, Published under Cement News

Bangladesh 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...

Petcoke and coal prices fall while oil is stabilising

31 May 2023, Published under Cement News

Oil 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 ...

Testing uptrend support at EUR80, pressured by lower energy complex

25 May 2023, Published under Cement News

By 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 Apr...

Cement export revenue totals US$150m in 10MFY22-23

23 May 2023, Published under Cement News

The 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), ...

New slide in oil pushing coal lower and petcoke below US$100 due to demand fears after new rate hikes

22 May 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark IMF downgraded global growth to 2.8 per cent and warned of a “rocky recovery” due to inflation and falling demand. The US Federal Reserve (Fed) and the European Central Bank (ECB) continued the interest rate hikes with a further 0.25 per cent, leading to rates of 5.25 and 3.75 per cent for the Fed and ECB, respectively, and market fears of fa...

Kenyan clinker imports set for additional tax

09 May 2023, Published under Cement News

Kenyan producers of clinker are being boosted with the proposal to introduce a new tax as the State moves in to protect local industry. The export and investment promotion levy is a new tax that the William Ruto administration is seeking to impose on imported goods that can be made in Kenya to boost the local manufacturing industry. The Kenyan state government has, through the Finance Bill ...

Bangladesh cement exports show an upward trend in 10MF22-23

05 May 2023, Published under Cement News

Bangladesh has reported 38 per cent YoY growth in cement export revenue to US$10.72m in the 10MFY22-23 (July 2022-April 2023). This compares to US$7.77m in the same period a year earlier.  The value of the target set for this period also saw a healthier growth of 19.5 per cent. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone an...