Cement News tagged under: cement prices

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Cement prices surge in Enugu, Nigeria

16 February 2024, Published under Cement News

The price of cement has hit NGN13,000/bag (US$8.57) in Enugu, Nigeria, compared to around NGN5000/bag in January this year. According to Blueprint Newspapers, while Dangote Cement is selling for approximately NGN10,500/bag, brands such as Supaset and BUA have increased their prices to NGN12,000/bag and NGN13,000/bag respectively.  Some commentators have said the price increase is due to exchange rates with the US dollar, while fears have been raised throughout the construction industr...

Cement prices rise in Sri Lanka

08 January 2024, Published under Cement News

The maximum retail price of a 50kg bag of cement has been increased in Sri Lanka by LKR150 (US$0.466) with immediate effect, cement manufacturers said. They said the price was increased due to the imposition of the value-added tax on 1 January. Accordingly, the new retail price of a 50kg bag of cement is LKR2450 (US$7.62). Meanwhile, National Construction Workers Union (NCWU) secretary, Supun Abeysekara, told the local Daily Mirror that though only a three per cent VAT should be impose...

Cement shortage hits Zimbabwean economy

04 January 2024, Published under Cement News

Zimbabwe’s economic growth in the third quarter of 2023 was hit by a shortage of cement, according to local news source, Chronicle. The country’s economy grew by just 1.3 per cent over the three-month period, reports the Zimbabwe National Statistics Agency, driven by a 36.7 per cent slowdown in construction activity, which was reportedly due to a lack of cement supplies. Plant breakdowns and scheduled maintenance meant that local producers, including PPC Zimbabwe , Khaya Cement and Si...

Pakistan cement transportation to become costlier

30 November 2023, Published under Cement News

Pakistan has started implementing an axle load regime on transporting cement, all kinds of raw materials and other commodities to meet the World Bank yardstick and improve its ranking. According to IMS Research, the government has taken a firm stance on implementing the axle load regime, effective 15 November 2023, across all motorways and highways in Pakistan. This decision is anticipated to raise transportation expenses substantially for the cement sector, which not only imports coal but a...

1QFY23-24 is a good omen for Pakistan’s cement industry

03 November 2023, Published under Cement News

Pakistan’s cement industry saw healthy growth in profit after tax (PAT) between July and September 2023 (1QFY23-24) on the back of a 32 per cent YoY advancement in sales, according to Spectrum Securities Ltd, which evaluated the results of the top nine cement makers enrolled at the Pakistan Stock Exchange (PSX), representing 93 per cent of the sector’s market capitalisation. The top nine, which represent 93 per cent of the sector's market capitalisation, saw a 33.3 per cent grow...

Malaysian cement demand set to flourish, says report

11 October 2023, Published under Cement News

Cement demand in Malaysia will continue to flourish in the medium-to-long term, supported by major infrastructure projects across the country, reports RHB Investment Bank Research (RHB IB). A sector report by RHB IB listed current low inventory levels, the push towards solar panels and electric vehicles, and the recovery in demand on the back of an anticipated upturn in China’s manufacturing and property sectors in the second half of 2024, as the main drivers of its demand growth projections...

FCCC lowers cement prices in Fiji

08 September 2023, Published under Cement News

As part of a review of cement prices in the country, the Fijian Competition and Consumer Commission (FCCC) has announced a lowering of ex-factory cement prices in Fiji. General-purpose bulk cement, which is currently priced at FJD361.85/t (US$159.20/t) ex-factory, will be reduced to FJD318.07/t, reports FBC News. General blended bagged cement, which currently costs FJD379.58/t, will be lowered to FJD320.83/t.   According to Joel Abraham, chief executive, FCCC, the price revisions reflec...

Cement dispatches are likely to rebound in August 2023

24 August 2023, Published under Cement News

While Pakistani cement dispatch data for August 2023 is yet to be released by All Pakistan Cement Manufacturers (APCMA), Topline Securities has forecast that local cement dispatches will increase by 19-23 per cent YoY in August 2023 due to low base effect in the corresponding period.  An analyst said today that total cement sales during August 2023 are anticipated to increase by 23-27 per cent YoY and 26-29 per cent MoM. Local dispatches will likely rise by 19-23 per cent YoY and 25-29...

Higher power prices send cement prices up in Pakistan

25 July 2023, Published under Cement News

Construction costs in Pakistan are expected to rise due to a hike in industrial electricity tariffs, effective from 1 July 2023. As agreed with the IMF under its US$3bn standby arrangement, the government notified an increase in electricity prices for industrial customer by PKR7.50/kWh (US$0.026) and for residential customers by an average of PKR6.45/kWh, according an AHL Research assessment report. This increase in electricity prices is expected to reduce the deficit and circular debt and ...

France leads European construction slowdown

23 June 2023, Published under Cement News

Financial analysts CIC-Market Solutions (CMS) forecasts a decline in European construction activity, especially in France where new property builds are expected to dip. "The property market, traditionally the first sector of the real economy to be affected by monetary tightening policies, is bearing the full brunt of the combined effect of rising interest rates and higher factor costs, as well as the government's half-hearted efforts to support activity," said the French analysts. "After the...