Cement News tagged: Trading
Petcoke discount falls sharply, energy complex rises driven by oil
By 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 boost...
Caribbean Cement to boost exports
Caribbean Cement Co Ltd (CCCL) has exported 3400t of cement to the Turks and Caicos Islands, a volume it hopes to ramp up once its expansion plans are completed. The company is currently extending its kiln capacity as part of a US$40m investment plan, boosting production capacity by up to 30 per cent. “As soon as we have available product, available capacity, we will always sell it to Jam...
Pakistani cement likely to get caught up in Torkham border suspension
Pakistan imports/exports in general and incoming/outgoing dispatches of containers/cargo from Pakistani ports to Afghanistan, as a transit trade facility in particular, have been suspended at the Pakistani-Afghan Torkham border (northwestern Pakistan) for the last week due to tension between Islamabad and Kabul. As a result, hundreds of trucks carrying essential goods have been stranded ...
Bangladesh posts 79% cement export revenue growth in July and August 2023
Bangladesh has recorded 78.8 per cent YoY growth in cement export revenue to US$2.95m in the first two months of FY23-24 (July-August 2023) from US$1.65m earned in the same 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 target of US$2.26m for two months was also surpassed by 30....
Italy’s cement exports see 28% rise in May
Cement production in Italy increased by four per cent YoY in June 2023, according to the national construction chamber, Federbeton. When compared with the 2015 base index, the output value advanced from 93 in May to 98 in June. However, in the first six months of the year output was down five per cent when compared with the 6M22. However, cement prices increased 11 per cent YoY in June 2023, ...
Petcoke rallies and higher coal sees stable discounts
By 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 wel...
Nepal exports of US$2m of clinker and cement in 1MFY23-24
Nepal 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 ...
EUA stuck in range trading – while UK price hits new low
By 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 fiv...
Petcoke discount falls sharply, energy complex rises driven by oil
By 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 boo...
A 24% fall in Pakistan cement exports in July 2023
Pakistan 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 compan...
Pakistan started with a massive growth in cement dispatches in 1MFY23-24
Pakistan 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...
Bangladesh sets a target export revenue of US$15m in FY23-24
Bangladesh 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...
Rising energy price may dent cement business in Pakistan
Pakistan'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 industr...
Petcoke continues rally with discounts into neutral zone
by 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 n...
East Africa Portland Cement is ready to tap domestic market
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...
Reassessment of raw materials import value demanded
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 B...