Cement News from International Cement Review
GCC posts 9% advance in 2Q earnings
Mexico-based GCC SAB de CV reported consolidated net sales down by one per cent to US$360.3m in the second quarter of 2024 from US$364.1m in the 2Q23. US cement and concrete prices increased by 5.3 and 8.1 per cent, respectively while in Mexico cement and concrete prices were up by 2.5 and 6.4 per cent, respectively. However, these increases were not able to offset falls in volumes. Cem...
Cement Manufacturers' Association applauds 2024-25 budget
The Cement Manufacturers’ Association (CMA), the independent body of large cement producers in India that represents almost 75 per cent of the country’s total installed cement capacity, has applauded the Union Budget 2024-25. The budget, presented by the Finance Minister, Nirmala Sitharaman, on 23 July, set out a detailed plan for India’s economic growth with a strong emphasis on infrastructur...
Pakistan's bagged cement export revenue reaches US$266.51m in FY23-24
Pakistan’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 do...
- Nepal’s cement and clinker export triple to NPR3.85bn
- Carbon market recovers from steep decline, supported by speculative buying and European and French election outcomes
- Oil higher on positive demand forecasts and geopolitical risk while coal and petcoke lower
- Cochin Port opens fourth terminal
- Senegalese cement imports not subject to higher taxes
Healthy demand lifts USG Supramax freight market
By Brannvoll ApS, Denmark The USG Supramax spot freight market showed a considerable rate improvement for all routes as some fresh cargo trickled in for June dates. There was a limited availability of tonnage open in US East Coast (USEC), attracting some ballasters from the USG and Continent areas. The market stayed well-supported thanks to petcoke and coal shipments on trans-Atlantic...
- Supramax rates for USG shipments stay under pressure from limited demand
- USG Supramax/Ultramax shows stable market fundamentals
- Limited USGC demand for Supramax/Ultramax shipments leads to rate cuts by owners
- USG Supramax rates seeing end-of-month decrease
- Supramax rates fell significantly on all routes amid slow start to the year