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East Africa Portland Cement is ready to tap domestic market

02 August 2023, Published under Cement News

East Africa Portland Cement Co Plc and its Athi-River plant is set to expand its clinker production to serve the domestic market after the government imposed a 17 per cent duty on imported clinker. According to Managing Director, Oliver Kirubai, the cement maker has drawn a road map for its revival and has realised improved production by 25 per cent as of September 2022. The increase in production was informed by the first phase of refurbishing the plant, increasing efficiency and cut...

Reassessment of raw materials import value demanded

28 July 2023, Published under Cement News

The Bangladesh Cement Manufacturers Association (BCMA) has urged the government to revisit the assessment value of three raw materials (cement clinker, granulated slag and gypsum) as their prices have fallen in international markets. They asked that the assessment value of cement clinker be reduced from US$60 to US$50t, granulated slag from US$30 to US$26t and gypsum from US$35 to $30t, the BCMA said in a letter to the Chattogram Custom House recently. According to the National Board o...

Cement exports from Nepal pick up

26 July 2023, Published under Cement News

Nepal exported cement representing a value of NPR779.3m (US$5.9m) in the FY22-23, supported by the government’s provision of a cash subsidy on cement exports. The country’s government provided up to eight per cent cash subsidy in addition to 2-15 per cent subsidy on electricity costs. Three domestic cement producers – Palpa Cement Industries Pvt Ltd , Arghakhachi Cement Ltd and Balaji Cement Industries –  exported more than 1.04Mt of cement to India in the FY22-23, including 607,073t ...

EUA falls sharply pressured by gas and coal prices

25 July 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark Still no fundamental or political news in the carbon market. The EUA prices followed the general market upwards and rallied from major support at EUR77 to EUR92 and now back in the middle EUR86. In August the auctions will be lower than previous months, which may bring some support to the market. In the EU manufacturers and households have seen demand destruction and savings on power demand, and as consumption has been lower, reducing the ...

Pakistan cement earns an export revenue of US$190m in FY23 (July -June)

24 July 2023, Published under Cement News

Pakistan'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 oil

21 July 2023, Published under Cement News

By 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...

Egypt's cement exports rise 33% in 5M23

13 July 2023, Published under Cement News

Egypt’s cement exports climbed by 33 per cent during the first five months of 2023, according to a recent report by the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM). According to the report, exports from Egypt reached US$380m, up from the US$286m recorded during the same period in 2022. Côte d'Ivoire's imports of Egyptian cement had a value of US$84.347m, rising by 203 per cent YoY, reported Amwal Al Ghad. Ghana imported US$65.155m worth of Egyptian ...

Petcoke seen as cheapest fuel as up first time in 17 weeks

07 July 2023, Published under Cement News

by 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...

Bangladesh cement export revenue jumps 43% YoY

05 July 2023, Published under Cement News

Bangladesh has reported 42.7 per cent YoY growth in cement export revenue to US$13.66m in FY22-23 (July 2022-June 2023). This compares to US$9.57m in the same period a year earlier. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone and related products. Historically, the majority of cement exports from Bangladesh are shipped to India, particularly from the northeastern states of Bangladesh. Other popular destinations include N...

EUA falls sharply pressured by gas and coal prices

03 July 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark The EUA price saw a sharp drop below EUR80/t to major support at EUR77/t, pressured by lower gas and coal prices. After compliance buying ended in April, investment funds now have the largest short position since 2018. Following a new round of cuts by OPEC+, gas and oil prices lifted. While there has no political news, the market expects a tightening of the EU’s carbon reduction target to 75 per cent in 2040, replacing the current target...