Cement News tagged under: trading
Petcoke rallies and higher coal sees stable discounts05 September 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll Aps, Denmark Petcoke rallied in August, driven by a lack of supply and higher coal prices led to stable discounts in the neutral zone. Petcoke with 6.5 per cent S is expected to continue in the US$90-105 range with resistance at US$95, US$105, US$115 and US$135. Support is at US$90, US$85, US$70, US$68 and US$55.The 4.5 per cent S petcoke contract is now well above US$100 as previously warned. Steam coal and petcoke FOB prices, 2009-23 – API4 FOB Ri... |
Nepal exports of US$2m of clinker and cement in 1MFY23-2425 August 2023, Published under Cement NewsNepal exported cement and clinker with a total value of NPR234.98m (US$1.78m) in the first month of the current fiscal year, FY23-24. The country exported 9573t of cement with a value of NPR70.5m and 25,742t of clinker with a value of NPR164.4m in the 1MFY23-24. Cement and clinker exports have increased significantly since last year due to the government introducing an eight per cent cash subsidy on the export of cement and steel, according to cement producers. It also waives 2-15 per ce... |
EUA stuck in range trading – while UK price hits new low25 August 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Lack of political news kept the market in a range drifting slightly lower due to lower gas prices, fear of industrial demand destruction as interest rates kept rising, as well as weaker equity markets spilling into traders sentiment. The European Commission has proposed that industrial companies must include emission reduction plans with five-year intervals up to 2050 to keep receiving free emission allowances. This proposal is currently u... |
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 ... |
A 24% fall in Pakistan cement exports in July 202322 August 2023, Published under Cement NewsPakistan began the FY23-24 (July 2023-June 2024) by registering lower cement and clinker exports in value and volume terms, with sea exports declining. While reviewing the monthly trends between the southern and northern regions, Usama Rauf, an investment analyst at AKD Securities, observes that exports have fallen in the south, primarily due to coal procurement challenges. This has led companies in this region to focus on the local market. The higher local retention prices have further ince... |
Pakistan started with a massive growth in cement dispatches in 1MFY23-2407 August 2023, Published under Cement NewsPakistan recorded a considerable growth of 57.4 per cent in cement dispatches in July 2023, when total cement dispatches totalled 3.21Mt against 2.04Mt dispatched in July 2022. According to the data released by the All Pakistan Cement Manufacturers Association (APCMA), local cement dispatches by the industry in July 2023 were 2.78Mt compared to 1.89Mt in July 2022, showing an increase of 47.2 per cent. Export dispatches increased by 183.9 per cent as the volumes increased from 153,517t in J... |
Bangladesh sets a target export revenue of US$15m in FY23-2407 August 2023, Published under Cement NewsBangladesh had set a higher target export revenue of US$15m against US$13.66m earned in the last fiscal year of FY22-23. The encouraging figure/trend of July 2023 would lead the target, experts reported. Bangladesh has achieved 104.2 per cent YoY growth in cement export revenue to US$1.47m in the first month of FY23-24 (July 2023-June 2024). This compares to US$0.72m in the same month a year earlier. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor... |
Rising energy price may dent cement business in Pakistan03 August 2023, Published under Cement NewsPakistan's government increased the fuel price in the country on 1 August 2023. Two influential trade organisations, the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and the Korangi Association of Trade and Industry (KATI), strongly opposed the recent increase in petrol prices, calling for its immediate withdrawal. An increase in transport costs would spike the cement industry's dispatches and raw material transportation costs. FPCCI President, Irfan Iqbal Sheikh, has s... |
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,... |
East Africa Portland Cement is ready to tap domestic market02 August 2023, Published under Cement NewsEast 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... |