Cement News tagged under: Trading

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DTI puts pressure on local cement producers

10 March 2004, Published under Cement News

Seriously doubting the ability of local cement players to reduce prices, the Department of Trade and Industry (DTI) has decided to finally impose the P5 reduction of the P20.60 safeguard tariff on per bag of imported cement as well as reduced the number of inspection period for such imports from 28 days to 7 to 14 days to facilitate supply and counter the high prices of local cement. This twin measure was revealed by Trade and Industry Secretary Cesar V. Purisima to reporters at the sideline...

Import duty cut on coal

04 March 2004, Published under Cement News

The Indian government’s move to slash import duty on coal to arrest spiralling steel prices has an unintended beneficiary: the cement industry. Larsen & Toubro and Gujarat Ambuja Cements, two of the larger cement producers with shore-based facilities which rely on imported coal, are set to witness a reduction in manufacturing costs, especially at a time when international coal prices have hit a five-year high. Late last week, the Union finance ministry issued notifications for reducing custo...

Saudi exports down demand up

03 March 2004, Published under Cement News

According to Al-Riyadh newspaper (March 1, 2004), official statistics revealed that the total cement exports of the Kingdom of Saudi Arabia decreased to 1.8Mt in 2003, down from 2.8Mt in the previous year. Only three companies out of the operating cement companies in Saudi Arabia managed to export last year including the Saudi Cement Company (1.1Mt), the Eastern Province Cement Company (498,000t) and the Southern Cement Company (212,000t).  Meanwhile, cement demand in Saudi Arabia stood at 22...

Mumbai cement prices

02 March 2004, Published under Cement News

Retail cement prices in Mumbai may rise by Rs 5 per 50 kg bag, while the prices in Gujarat are likely to jump up by Rs 10 per a 50 kg bag.  While prices in Mumbai will stand at Rs 173-175 after the increase in price, a 50 kg bag in Gujarat is expected to be quoted at Rs 160. Domestic cement majors are pushing for this price hike from March 1 on the back of a steady demand.  Cement analysts expect the price hike to be implemented in other parts of Maharashtra by the first week of March. Senio...

Belarusian cement to Finland

01 March 2004, Published under Cement News

The state-run Belarusian cement plant, Mogilev oblast, has supplied the first 500-ton consignment of the cement of the highest standard ³550² to Finland. Specialists of a Finnish company visited the plant, took samples of the cement and tested them at their laboratories. They were satisfied with the quality of the Belarusian cement. This is why the sides reached a preliminary agreement on further cooperation. According to plant officials, Finland has become the fifth country to import Belarus...

Cement Company contract denied

01 March 2004, Published under Cement News

Nairobi: A parastatal boss has denied responsibility for a multibillion-shilling contract signed with a cement dealer last year. Lawyer Desterio Oyatsi, for East Africa Portland Cement, yesterday told High Court judge Leonard Njagi the contract in dispute had been signed by acting managing director E.C. Birya without the knowledge of the company and its board. The court heard that the former MD had breached his duties and that, according to the present MD, Ms Mary Wairimu Ngari, the agreemen...

IFCD buys cement from black market

01 March 2004, Published under Cement News

Sidetracking the practice of procuring its required quantity of cement from the Cement Corporation of India, the state irrigation and flood control department, IFCD has purchased 5000 cement bags from a private firm shelling out Rs62 extra per bag. According to a source, normally the IFCD meets its requirement for cement by purchasing from the Cement Corporation of India at the rate of Rs195 per bag including sales tax but the flood control division No 2 of the department has recently purchas...

Cement Distributors dissatisfied

27 February 2004, Published under Cement News

Members of the Western Regional Branch of the Ghana Cement Distributors Association have expressed their concern at the frequent increases in the factory price of cement by GHACEM within the past three month. They said that since December 2003 the factory price of a bag of cement had been increased thrice from 37,350 cedis to 42,750 cedis as at February 24 2004. Mr. Kofi Afari Appiah, Chairman of the association flanked by other executive members said these increases were often made without ...

Minister is named in Sh1.3b cement scam

27 February 2004, Published under Cement News

Kenya: Cabinet minister Mukhisa Kituyi was yesterday implicated in a scandal which cost a parastatal Sh1.3 billion (approx US$16.8m) in illegal discounts and transport rebates.  The Trade and Industry minister was said by an MPs’ finance watchdog to have been at the centre of the shady deals in which East African Portland Cement, which falls under his docket, lost the money between 1999 and 2003.  As a result of the rip-off, the Government also lost Sh300 million over the same period in Valu...

Algerian import costs

27 February 2004, Published under Cement News

Cement imports into Algeria cost a reported US6.7m according to Algerian customs data. For the whole of 2003 cement imports cost US$156.85m. This increase is explained by the strong demand for cement notably after the earthquake of May 21st, 2003, and the ensuing major housing and infrastructural damage.