Cement News tagged under: Trading
New slide in oil pushing coal lower and petcoke below US$100 due to demand fears after new rate hikes22 May 2023, Published under Cement NewsBy 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 falling demand. Combined with the usual US debt ceiling theatre, this has sent the equity market and e... |
Kenyan clinker imports set for additional tax09 May 2023, Published under Cement NewsKenyan 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 2023, proposed the export and investment promotion levy rate on imported clinker at the rate of 10 p... |
Bangladesh cement exports show an upward trend in 10MF22-2305 May 2023, Published under Cement NewsBangladesh 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 and related products. Most of the cement exports were shipped to neighbouring countries. For the f... |
Coal price find supports while petcoke sees sharp fall01 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Oil prices support the full energy complex and OPEC+ announced new production cuts totalling 1.6mb/d. Oil prices have risen from US$72/bbl to a high US$88/bbl but are now in their former range of US$80-90/bbl at US$81/bbl. Coal prices are finding support among strong supply and are stabilising at US$132 for the API4 contract. As expected, petcoke prices have fallen sharply below US$100, the first time since 2021, with discounts compared to... |
Carbon testing EUR100 but in range due to seasonality with lower demand28 April 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The cement sector has reduced its emissions with six per cent in 2022 compared to 2021 and Europe has lately seen a downtrend in the coal-fired power production, reducing demand for EUAs slightly. Despite this the market tested the EUR100 resistance again in March on less fear of recession, but the banking issues in the USA and Switzerland took speculators temporarily out of the market, setting it back on track for a range between EUR90-100 in... |
OPEC + surprise cut sends oil sharply higher, coal stable petcoke sliding sending discount back to neutral zone26 April 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The story of inflation and central bank rate hikes continues. Inflation figures from the US were at five per cent in March, awaiting another 0.25 per cent hike from the Federal Reserve. The European Central Bank is also expected to raise rates as inflation remains high due to EU sanctions keeping energy prices relatively high to 2021 before sanctions. While banking problems have increased the fear of recession, China’s post-COVID opening up... |
Pakistan's cement industry saw a mixed export revenue trend in 9MFY22-23 and March25 April 2023, Published under Cement NewsPakistan's cement industry saw a negative trend in export revenue on the back of a range of factors, including a slowdown in economic activity in Pakistan and overseas. According to the country’s Federal Bureau of Statistics (FBS), in the 9MFY22-23 the cement industry earned US$135.439m by exporting 2.91Mt of cement and clinker, compared with US$199.372m from 5.23Mt exports in the 9MFY21-22. This shows that exports slid by 32.1 per cent in value, and volumes were down by 44.4 per cent. In lo... |
APCMA releases mixed dispatches data for March 202306 April 2023, Published under Cement NewsTotal cement dispatches of Pakistan's cement mills in March 2023 were 3.795Mt against 5.01Mt in the previous fiscal year, representing a fall of 24.2 per cent. A spokesman of the All Pakistan Cement Manufacturers Association (APCMA) said that construction activities in both the northern and southern regions of the country have significantly decreased in recent months, which is not only creating an alarming situation for the industry but also drying up the employment opportunities f... |
Bangladesh cement exports surpass target by 20.7% in 9MFY2305 April 2023, Published under Cement NewsBangladesh has reported 48.7 per cent YoY growth in cement export revenue to US$9.68m in the 9MFY22-23 (July 2022-March 2023). This compares to US$6.51m in the same period a year earlier. The value of the target set for this period also saw a healthier growth of 20.7 per cent. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone and related products. Most of the cement exports were shipped to neighbouring countries. For th... |
GICA's cement and its Chlef plant obtain CE certification28 March 2023, Published under Cement NewsThe Chlef Cement plant and Entreprise des Ciments et Dérivés d'Echéliff ( ECDE ), affiliated to the Algerian Cement Industrial Complex Groupe Industriel des Ciments d'Algérie ( GICA ), has obtained the certificate of conformity to European standards (CE) for the cement it produces. The company produces Jika Biton (42.5 N) Jerry Portland cement, Jika Bunyan (32.5 N) Jerry Portland cement, Jica Achievements (52.5 N) Jerry Portland cement, Anti Gica (42.5 N-SR5) sulphate-resistant P... |