Cement News tagged under: Trading

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White cement anti-dumping duties issued in South Korea

27 September 2023, Published under Cement News

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 came as domestic cement producer Union Corp filed a complaint in March against Egypt's Royal El M...

Nova Marine Carriers ship grounds in St Lawrence River

26 September 2023, Published under Cement News

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 list to port. Having veered off the fairway, the ship is wedged between an island and a dyke making...

EUA stuck in range trading – while UK price hits new low

25 September 2023, Published under Cement News

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-year intervals up to 2050 to keep receiving free emission allowances. This proposal is currently un...

Pakistan's cement industry saw significant export growth in 2MFY23-24

20 September 2023, Published under Cement News

Pakistan's cement industry saw significant growth in cement exports, both over land to Kabul and further afield by sea during 2MFY23-24 due to the depreciation of the Pakistani rupee and the falling prices of Afghan and local coal. According to AKD Securities Ltd, cement exports are expected to show growth going forward, driven by the viability of export prices, particularly in light of declining coal prices. IMS Research also believes that exports continue to demonstrate robust growth, p...

Petcoke discount falls sharply, energy complex rises driven by oil

20 September 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark The fight against inflation is still the focus point for the US Federal Reserve Bank and the European Central Bank, which both raised interest rates by 0.25 per cent in July. This impacted equity markets as the IMF came out with a slower global GDP forecast for 2024, down 0.5 per cent to three per cent. However, new Chinese promises of boosting the economy have taken some of the fear out of the energy markets, which have seen a recovery in...

Caribbean Cement to boost exports

18 September 2023, Published under Cement News

Caribbean Cement Co Ltd (CCCL) has exported 3400t of cement to the Turks and Caicos Islands, a volume it hopes to ramp up once its expansion plans are completed. The company is currently extending its kiln capacity as part of a US$40m investment plan, boosting production capacity by up to 30 per cent. “As soon as we have available product, available capacity, we will always sell it to Jamaica. This is our priority. However, there is a market out there for us. We will actively look for o...

Pakistani cement likely to get caught up in Torkham border suspension

15 September 2023, Published under Cement News

Pakistan imports/exports in general and incoming/outgoing dispatches of containers/cargo from Pakistani ports to Afghanistan, as a transit trade facility in particular,   have been suspended at the Pakistani-Afghan Torkham border (northwestern Pakistan) for the last week due to tension between Islamabad and Kabul.  As a result, hundreds of trucks carrying essential goods have been stranded on both sides since the border was shut down after an exchange of fire in a dispute over an under-co...

Bangladesh posts 79% cement export revenue growth in July and August 2023

11 September 2023, Published under Cement News

Bangladesh has recorded 78.8 per cent YoY growth in cement export revenue to US$2.95m in the first two months of FY23-24 (July-August 2023) from US$1.65m 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. The target of US$2.26m for two months was also surpassed by 30.5 per cent YoY. Bangladesh had set a higher target export revenue of US$15m for FY23-24 against U...

Italy’s cement exports see 28% rise in May

05 September 2023, Published under Cement News

Cement production in Italy increased by four per cent YoY in June 2023, according to the national construction chamber, Federbeton. When compared with the 2015 base index, the output value advanced from 93 in May to 98 in June. However, in the first six months of the year output was down five per cent when compared with the 6M22. However, cement prices increased 11 per cent YoY in June 2023, following a 13 per cent YoY rise in May 2023. Compared with the 2015 base index, prices slipped from...

Petcoke rallies and higher coal sees stable discounts

05 September 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll Aps, Denmark Petcoke rallied in August, driven by a lack of supply and higher coal prices led to stable discounts in the neutral zone. Petcoke with 6.5 per cent S is expected to continue in the US$90-105 range with resistance at US$95, US$105, US$115 and US$135. Support is at US$90, US$85, US$70, US$68 and US$55.The 4.5 per cent S petcoke contract is now well above US$100 as previously warned. Steam coal and petcoke FOB prices, 2009-23 – API4 FOB Ri...