Cement News tagged under: trading

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Bangladesh outstrips the cement export target in 6MFY23-24

08 January 2024, Published under Cement News

Bangladesh has recorded 91 per cent YoY growth in cement export revenue to US$8.96m in the first six months (July-December 2023) of FY23-24 from US$4.69m in the same six months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. The 22.1 per cent YoY rise in cement exports also surpassed the target of US$7.29m for 6MFY23-24. Bangladesh had set a higher target export revenue of US$15m for F...

Indian port modified norms for handling imported limestone

02 January 2024, Published under Cement News

Porbandar Port has made some changes in handling raw materials for cement and other industries. Porbandar is a medium-sized port on India's west coast, in the Saurashtra region of Gujarat state, and is owned and operated by the state-owned Gujarat Maritime Board (GMB).  An interim measure pending issuance of new guidelines, subject to periodic review, has set a minimum limestone cargo discharge rate from a vessel lying at berth at Porbandar Port at 7000tpd. This refers to Gujarat Maritime...

Power Cement exports to the UK

02 January 2024, Published under Cement News

Power Cement of Pakistan has marked a significant milestone. It has successfully entered the European market by exporting its high-quality cement to the United Kingdom. This initiative demonstrates Power Cement’s commitment to global expansion and positions the company as a formidable force in the international construction materials arena and, notably, as the first Pakistani cement exporter to enter the UK market.     Saifuddin A Khan, director of export marketing at Power Cement, expr...

FOB discounts decrease but ARA discounts up

29 December 2023, Published under Cement News

Coal, along with oil fell to US$100 on 21 December 2023, and OPEC+ introduced new cuts to support oil at US$75-80. However, oil rose due to naval attacks in the Red Sea and trouble in the Suez Canal. Petcoke FOB contracts collapsed as freight rallied making CFR prices expensive.There was also a lack of interest from far destinations. The discount on FOB contracts increased but fell on ARA contracts. Petcoke discount falls (21 December 2023) Petcoke with 6.5 per cent S is exp...

Carbon testing long-term uptrend support at EUR68 after breaking below EUR80

27 December 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark As reported in ICR’s December 2023 issue the break of EUR80 could mean a larger shift in sentiment and this was clearly proven right. Pressured by lower oil, gas and coal prices, as well as continued subdued industrial demand the December 2023 contract has fallen to the major support around EUR68. In addition, financial players have been seen switching out of long positions and going short on a larger scale than before. However, it also nee...

US Great Lakes reports increase in cement shipments

27 December 2023, Published under Cement News

The US Great Lakes has reported shipments of more than 1.8Mt of cement in the first nine months of 2023, according to the Ontario-based Chamber of Marine Commerce. This marks an increase of approximately 192,000t on the same period a year earlier. The movement of steel slabs has also risen, up by 93,000t YoY to over 354,000t. Total shipping activity for the US Great Lakes in the 9M23 came in at 32.6Mt, up by 422,000t on the same period a year earlier.  The port of Duluth-Superior saw a 35...

Oil pressures energy complex lower despite OPEC+ cuts while petcoke collapses, offering new high discounts towards coal

22 December 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark The energy complex fell in November, with oil leading the way. The Israel-Gaza war continued but still without any contagion – and no war premium. Ukraine-Russia war is frozen literally, and some hints of possible talks are emerging to the upcoming Russian election. The US Federal Reserve and European Central Bank have both hinted in speeches that interest rates need to be high but not higher, which has given a relief rally in the financia...

Pakistan’s cement and clinker exports increase

22 December 2023, Published under Cement News

Pakistan’s cement industry has registered substantial growth in dispatches of cement and clinker exports in terms of value and quantity during the first five months of FY23-24 (July-November 2023) due to the continued depreciation of the Pakistani rupee against foreign currency and the falling coal prices.   Pakistan’s cement and clinker exports increased by around 48.3 per cent in the 5MFY23-24 to US$114 (2.93Mt), compared to US$76.87m (1.54Mt) in the 5MFY22-23, the Pakistan Bureau of Stat...

Coal drops and petcoke-coal discounts fall

20 December 2023, Published under Cement News

By Frank O. Brannvoll, Brannvoll ApS, Denmark The price of coal declined after the Israel-Gaza war premium was taken out and oil also moved down. Petcoke saw downward pressure by coal with discounts falling. As a result, discounts on both FOB and ARA contracts are now in the lower part of the neutral range.  Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range with resistance at US$95, US$105, US$115 and US$135. Support is at US$80, US$68 and US$55 with multi-year...

Bangladesh exceeds the cement export target in 5MFY23-24

07 December 2023, Published under Cement News

Bangladesh has recorded 90.2 per cent YoY growth in cement export revenue to US$6.98m in the first five months of FY23-24 (July-November 2023) from US$3.67m in the same five months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. The 17.7 per cent YoY rise in cement exports also surpassed the target of US$5.93m for 5MFY23-24. Bangladesh had set a higher target export revenue of US$15m f...