Cement News from International Cement Review
Difficult start to 2024 for US cement market
Total shipments of Portland and blended cement, including imports, in the US and Puerto Rico amounted to 5.886Mt in the first month of 2024, down 14.3 per cent YoY from the 6.872Mt recorded in January 2023, according to the US Geological Survey (USGS). Of the total blended volume reported, 2.745Mt, or 98 per cent, was estimated to be Portland limestone cement. The key destination for Por...
Indian cement demand to grow by 6-7% in FY24-25
Indian cement volume growth recovered to a healthy 7-8 per cent YoY in the last quarter (1 January 2024-31 March 2024) of FY23-24, on aggressive volume push, after growing ~15 per cent YoY in the first half of the year and logging a moderate slowdown in the third quarter due to regional hindrances, according to CRISIL MI&A Research. This ensured a third straight year of healthy demand growth ...
Oil rallies above US$90, coal and petcoke dragged higher as geopolitical tensions increase
By Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitics once again dominated the energy complex. Fear of the Gaza conflict spreading towards Lebanon and Iran added a risk premium to oil, driving it above US$90. The US Federal Reserve and the European Central Bank have both claimed that interest rates will not come down before inflation clearly shows movement towards the two per cent be...
Limited USGC demand for Supramax/Ultramax shipments leads to rate cuts by owners
By Brannvoll ApS, Denmark The USG Supramax/Ultramax freight market showed positive tendencies during the first half of March, mainly driven by a strong market in the east coast of South America where the grain season is actively gaining momentum. In the second half of March, USG rates started slipping with fresh demand lacking, coupled with lower fixing activity levels as the market appr...
- USG Supramax rates seeing end-of-month decrease
- Supramax rates fell significantly on all routes amid slow start to the year
- High volatility in USG Supramax/Ultramax markets
- USG Supramax market skyrocketing as demand/supply plays in owners’ favour and congestion impacts Panama Canal
- Freight rates rise again on increased petcoke and grain demand