Cement News tagged under: coal

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Oil falling below US$90, coal and gas surge to new highs – petcoke may resume upward curve, but still buyers’ market

29 September 2022, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark The perfect storm has hit European energy end users, as EU sanctions against Russian energy exports are now backfiring in terms of prices and supply security. The EU is currently working on different packages to curb prices, but this will be extremely challenging if a free and market-based price structure is wanted. At the same time, drought and a reduction in nuclear power generation is adding to the severe supply situation as gas prices have...

Oil down but coal rising again as gas prices advance

02 September 2022, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark Since ICR’s most recent energy report , the energy complex is falling, led by oil, more interest hikes and the fear of recession. Oil prices are down due to lower demand expectations and a small increase in output by OPEC+. Meanwhile, the price of coal is rising again, driven by higher gas prices. API 4 coal costs now US$340. Russia continues to offer large discounts to non-sanction countries. High-quality coal is in demand in Europe, Colom...

Indian cement's fuel strategy alters

19 August 2022, Published under Cement News

While the Ukraine-Russian war rages on, the impact on fuel prices can clearly be seen across the globe. Indian cement manufacturers are having to reconsider their strategies for energy consumption and fuel sourcing. Changes in imports have already started to see Indian cement producers seek higher volumes of petcoke imports and cheaper trade routes for thermal coal. Much of the petcoke that Indian cement manufacturers have imported recently has come from Venezuela for the first time, accord...

Energy markets react to higher interest rates – coal demand surges to all-time high, petcoke now buyers’ market

18 August 2022, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark Inflation keeps rising and while central banks have started aggressive interest rate hikes to curb it, these may be too late. The IMF has revised global economic growth down, and fear of demand destruction is lowering energy prices. The US Federal Reserve increased its interest rates by 0.75 per cent and the European Central Bank followed through. Further hikes are forecast as inflation moves above nine per cent.   The US dollar strengthen...

Indian producers turn to Venezuela for petcoke supplies

17 August 2022, Published under Cement News

The surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time. According to Live Mint, trade data shows that India imported at least four shipments of 160,000t of petcoke from Venezuela, arriving in India between April-June 2022. A further 50,000t cargo is due to reach Mangalore, India, over the coming days and a 30,000t shipment is expected to depart Venezuela for India later t...

Higher inflation and fear of recession impact energy complex

04 August 2022, Published under Cement News

Since ICR’s most recent energy report , the energy complex is trending lower due to higher inflation and the fear of recession. Higher interest rates are fuelling demand destruction. Russia is offering discounts to non-sanction countries, affecting the price of oil and coal. The price of oil was down sharply following the IEA report on falling demand, combined with the OPEC+ plan to increase production in August. Increased demand for coal in the EU is supporting the price of coal with highe...

Petcoke discounts higher as coal rises on EU sanctions and petcoke falls as demand-supply eases

22 July 2022, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark Energy markets are kept between higher prices due to supply distress, including strikes in refineries for higher wages and the impact of sanctions on Russia. In addition, pressure from inflation rates at 40-year highs is leading to higher lending interest rates and a potential recession. This will lead to lower demand in the cement and other sectors. The US Federal Reserve increased rates by 0.5 per cent and more hawkish actions are likely...

Energy complex moves in range with petcoke discounts increasing

08 July 2022, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark Since ICR’s most recent energy report , the energy complex has moved in range, awaiting the impact of sanctions on Russia and the risk of an economic slowdown. However, the threat of EU sanctions on Russian oil pushed up oil prices in the range of US$105-120, but prices have since fallen back as high inflation and interest rate increases have sown considerable doubts on growth going forward. Coal has been stabilising after rising demand w...

New sanctions push the energy complex higher while Russia offers huge discounts to non-sanction markets, keeping petcoke rise in check

21 June 2022, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark New EU oil sanctions against Russia have again moved the energy complex higher, particularly oil and coal, as the EU now has to find new suppliers, leading to increased costs for end users. Moreover, the inflationary fall-out from the Ukraine-Russia war is now seen in all economies. The US Federal Reserve has turned to sharp rate increases and the European Central Bank (ECB) is now expected to start raising rates up to 125bp for the end ...

Oil prices up while coal and petcoke are stabilising

08 June 2022, Published under Cement News

Since ICR’s most recent energy report , the energy complex is awaiting the impact of sanctions on Russia and the risk of an economic slowdown. Oil prices increased to US$100-115 on the back of the EU’s potential sanctions on Russian oil. Coal is stabilising after rising on demand before the sanctions in August with Russia offering a discount. High-sulphur petcoke (6.5%) 40HGI FOB USGC – historical view 2007-22 Meanwhile, petcoke stabilised on a high discount on current le...