Cement News tagged under: coal
Petcoke discount falls sharply, energy complex rises driven by oil22 August 2023, Published under Cement NewsBy 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 ... |
Petcoke continues rally with discounts into neutral zone03 August 2023, Published under Cement Newsby Frank O. Brannvoll, Brannvoll ApS, Denmark Coal rallied from US$100, driven by the energy complex as oil broke through the US$80 barrier following new cuts by OPEC+ in July 2023. Meanwhile, petcoke continues its rally after hitting the major support of US$65, and reached its target of US$85. At US$88, is now close to resistance at US$90 with discounts to coal falling sharply into the neutral zone. Further points of resistance are US$95, US$105, US$115 and US$135. Support is at US$85,... |
Pakistan cement earns an export revenue of US$190m in FY23 (July -June)24 July 2023, Published under Cement NewsPakistan's cement industry saw a negative growth in exports in FY22-23 (ended 30 June 2023). Value and quantity were both down during this period. Pakistan cement industry's export earnings in FY22-23 ( ended 30 June 2023 ) amounted to US$190m, with 4.248Mt of cement and clinker exported worldwide, based on the latest Federal Bureau of Statistics (FBS) data. This represents a contraction from the previous year's earnings of US$224m and 5.733Mt exports, indicating a decline of 15.2 per c... |
Petcoke on the rise, driven by higher coal prices and high discounts – new OPEC cuts support oil21 July 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The holiday mood has dampened the volatility in most markets and the dominant factor is the fear of low demand due to slower growth as central banks keep raising interest rates to bring inflation down. The European Central Bank (ECB) raised interest rates again. Following the general elections, the Turkish Central Bank raised rates by 6.5 per cent to 15 per cent in a new inflation focus. Talks between the USA and China have released the te... |
Petcoke seen as cheapest fuel as up first time in 17 weeks07 July 2023, Published under Cement Newsby Frank O. Brannvoll, Brannvoll ApS, Denmark Oil is stabilising following an intervention from Saudi Arabia with cuts as negative sentiment persists. Coal has settled above US$100, but plenty of supply to the market. Nevertheless, a higher price is expected. Petcoke dropped to US$65, but after 17 weeks, it is now seen as the cheapest fuel and price is moving up. While the discount remains in neutral, its position at the high end points to a move to the cheap zone. Steam coal an... |
OPEC+ actions lift oil and the energy complex – coal and petcoke fall to 2020 levels on lower demand30 June 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The markets are still caught in the fear that higher interest rates to fight inflation could start a recession and see demand fall. The market expects both the US Federal Reserve and European Central Bank to increase rates but at a slower rate to enable current levels to take effect. The US debt ceiling agreement reduced market fears and saw equities rise. Geopolitical tensions are looking towards Taiwan where US and Chinese navies are conduct... |
Petcoke and coal prices fall while oil is stabilising31 May 2023, Published under Cement NewsOil prices are stabilising after a new drop despite OPEC+ production cuts. At its next meeting, scheduled for 4 June 2023, OPEC+ may consider new interventions if oil stays below uS$75. A large supply of coal is exerting a downward pressure on coal prices while low gas is testing the US$100 mark. Petcoke prices continue their drop, driven down by lower coal prices, ample supply and buyers holding back as they wait to see how low petcoke prices will fall. Steam coal and petcoke pri... |
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... |
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... |
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... |