Cement News tagged under: trading
Pakistan's bagged cement export revenue reaches US$266.51m in FY23-2425 July 2024, Published under Cement NewsPakistan’s cement and clinker exports increased by 40.4 per cent to US$266.51m in the FY23-24 (July 2023-June 2024), from US$189.87m in the FY22-23, according to Pakistan Bureau of Statistics (PBS) data. In Pakistani rupee terms, export revenue saw a significant growth of 57.8 per cent to PKR75.46bn during the period, sustained by the local currency’s stable competitive rates against the US dollar, improving margin in the international market against a lull in domestic demand. Export volumes... |
Nepal’s cement and clinker export triple to NPR3.85bn24 July 2024, Published under Cement NewsCement and clinker exports from Nepal tripled to NPR3.85bn (US$28.7m) in FY23-24 when compared with exports in the previous year. According to Department of Customs data export earnings from cement were NPR1.97bn and those from clinker were NPR1.88bn. The surge has been attributed to the introduction of an eight per cent cash incentive on the export of mine-based products by the government. The Nepal Trade Integration Strategy (NTIS) 2023 identified cement as one of the potential export... |
Carbon market recovers from steep decline, supported by speculative buying and European and French election outcomes22 July 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The political influence in the EU ETS market was underlined during June, where the market fell sharply up to the 9 June parliamentary election. The market recovered towards EUR70 as the result materialised, and the fear of a major shift to the right vanished as the centre right parties of the EP kept a majority and the re-election of Van der Leyen as head of the Commission. The belief is that the green transition will not be rolled back but wi... |
Oil higher on positive demand forecasts and geopolitical risk while coal and petcoke lower19 July 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Political risk and central banks were key in energy developments in the June-start of July period. The European Central Bank (ECB) and US Federal Reserve (Fed) both restated that interest rate cuts depend on the inflation rate nearing two per cent. The ECB hinted at two more rate cuts and the FED at possibly one. The centre-left election results in the UK and France, along with the European Parliament election results, calmed the market aft... |
Cochin Port opens fourth terminal15 July 2024, Published under Cement NewsA new cement terminal has entered operation on a 1.14ha plot at Ernakulam Wharf, Kerala, India. The Cochin Port Trust launched the port’s fourth terminal, which is expected to handle 0.3Mta of cement. The first vessel to enter the terminal was the Penna Suraksha, the largest self-discharge vessel in Asia with a discharge capacity of 1000tph. The 25,000t cargo from Krishnapatnam will be bagged at Penna Cement Industries’ plant at the port. |
Senegalese cement imports not subject to higher taxes12 July 2024, Published under Cement NewsGambia will not levy higher taxes on cement imported from Senegal, confirmed Gambia's Minister of Trade, Industry, Regional integration and Employment, Mr Baboucar Ousmaila Joof. Mr Joof explained that the excise tax is levied on imported bagged cement regardless of its source, justifying that the measure doesn't target any specific country as that would constitute discrimination. “Past studies of the manufacturing sector in the country found that more than 80 per cent of the manufacturin... |
Petcoke discounts offer potential03 July 2024, Published under Cement NewsCoal prices moved slightly higher with oil and geopolitics stabilising to surpass the US$110 mark on 21 June 2024. However, the risk is growing with the latest developments in the Israel-Hezbollah conflict. Petcoke FOB prices pushed higher on demand and coal prices as Venezuelan material. Petcoke discounts decreased slightly and are still in the cheap zone, offering potential. Coal FOB price trend, January 2010-21 June 2024: API 4 Richards Bay 6000kcal/kg (black), 6.5% sulphur USGC ... |
Vietnam cement exports drop 10.8% in 1H2402 July 2024, Published under Cement NewsBetween 2019 and 2022, the average export value of cement and clinker ranged from US$1bn to US$1.3bn annually. However, in 2023, export earnings sharply declined due to falling prices. The average Free On Board (FOB) price of clinker fell to US$31-32/t in May 2024, a notable decrease from US$46-48/t in 2022. The country’s Ministry of Construction (MoC) cited an increase in the tax on clinker exports, from five to 10 per cent as of 1 January 2023, as a key factor making Vietnamese clinker... |
US considering carbon pricing for imports02 July 2024, Published under Cement NewsThe US is looking to a potential carbon pricing system for goods and services imported into the country as part of a wider carbon policy. The step is a key policy shift as it looks to counter Chinese industrial competition and reduce emissions. John Podesta said the US would fight against “freeriding” by foreign producers of carbon-intensive industrial imports, in an interview with the UK Financial Times. “We’re not going to just give up our industrial base to people who are dumping carbon... |
Power Cement Ltd tapped new export markets, including the US and UK02 July 2024, Published under Cement NewsPower Cement Ltd held its analyst briefing on 26 June, during which management reviewed past performance and looked ahead. The company posted a loss of PKR1.2bn (US$4.32m) in 9MFY23-24 compared to a profit of PKR0.6bn in the previous period. Top company officials primarily attributed the loss to higher financial charges (up 39 per cent YoY) during the period amidst elevated interest rates. The company’s total sales of 9MFY23-24 increased by 13 per cent YoY to 2.1Mt, driven by 72 per cen... |