Cement News tagged under: coal
Petcoke and coal prices fall while oil is stabilising31 May 2023, Published under Cement NewsOil prices are stabilising after a new drop despite OPEC+ production cuts. At its next meeting, scheduled for 4 June 2023, OPEC+ may consider new interventions if oil stays below uS$75. A large supply of coal is exerting a downward pressure on coal prices while low gas is testing the US$100 mark. Petcoke prices continue their drop, driven down by lower coal prices, ample supply and buyers holding back as they wait to see how low petcoke prices will fall. Steam coal and petcoke pri... |
New slide in oil pushing coal lower and petcoke below US$100 due to demand fears after new rate hikes22 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark IMF downgraded global growth to 2.8 per cent and warned of a “rocky recovery” due to inflation and falling demand. The US Federal Reserve (Fed) and the European Central Bank (ECB) continued the interest rate hikes with a further 0.25 per cent, leading to rates of 5.25 and 3.75 per cent for the Fed and ECB, respectively, and market fears of falling demand. Combined with the usual US debt ceiling theatre, this has sent the equity market and e... |
Coal price find supports while petcoke sees sharp fall01 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Oil prices support the full energy complex and OPEC+ announced new production cuts totalling 1.6mb/d. Oil prices have risen from US$72/bbl to a high US$88/bbl but are now in their former range of US$80-90/bbl at US$81/bbl. Coal prices are finding support among strong supply and are stabilising at US$132 for the API4 contract. As expected, petcoke prices have fallen sharply below US$100, the first time since 2021, with discounts compared to... |
OPEC + surprise cut sends oil sharply higher, coal stable petcoke sliding sending discount back to neutral zone26 April 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The story of inflation and central bank rate hikes continues. Inflation figures from the US were at five per cent in March, awaiting another 0.25 per cent hike from the Federal Reserve. The European Central Bank is also expected to raise rates as inflation remains high due to EU sanctions keeping energy prices relatively high to 2021 before sanctions. While banking problems have increased the fear of recession, China’s post-COVID opening up... |
Very low petcoke discounts may lead to switch to coal08 March 2023, Published under Cement NewsThe price of a barrel of oil has returned to the lower end of the US$80-88 range. Gas prices were also down on the back of warm weather forecasts and the Turkey-Syria earthquakes, which are cooling demand. Coal prices continue to slip lower, along with other sources in the energy complex, as the fear of recession persists. The stable price of petcoke and very low discounts are expected to lead to fuel switches towards coal. The 6.5 per cent S petcoke FOB contract sold at US$137 while t... |
Shree Cement wins coal mine auction01 March 2023, Published under Cement NewsIndia’s Shree Cement Ltd has been named as the highest bidder for the Datima Coal Mine Block, located in Surajpur Tehsil, Surguja District, Chattisgarh. The block was auctioned by the Ministry of Coal, Government of India, on 27 February 2023. The mine has geological reserves of 13.3Mt. According to the company, it has participated in the coal block auction with the intent of creating fuel security through long-term fuel supply sourcing options for its operations while having flexibilit... |
Oil in narrow range while coal continues lower – petcoke pressured lower as discounts fall sharply28 February 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The markets are still dominated by hawkish statements from central banks due to the stubbornly high inflation both in the USA and Europe. Expectations see rates climb still higher and for a longer period. However, the good news is that a recession may be avoided. In the energy markets, the G7 round of new sanctions on Russian refined products do not seem to have had any major impact. The markets are locked between the China reopening and th... |
Oil and coal are falling, petcoke climbs higher23 February 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Another month with the European Central Bank (ECB) and the US Federal Reserve in focus: in the US the interest rate has been increased by 0.25 per cent while the ECB notched up the rate by 0.5 per cent. However, inflation seems stubbornly high. Therefore, it is expected that rates will increase further and remain high for some time with fears of a recession continuing albeit to a lesser degree. The IMF has adjusted global growth up by 0.2 per... |
Petcoke prices rising on growing demand while coal is falling as supply increases01 February 2023, Published under Cement NewsBy Frank O. Brannvol, Brannvoll ApS, Denmark lAs China reopens, oil is finding support, seeing a recovery in oil prices to surpass the US$85 mark. The warm winter in Europe and lower gas prices are taking off the pressure for demand in the region. However, Russia’s discount is still in place for countries that do not sanction Russian gas supplies (China, India and Turkey). Meanwhile, coal prices are falling as supply increases and demand is dropping as the fear of recession impacts mark... |
Power Cement to use local Thar coal26 January 2023, Published under Cement NewsSindh Engro Coal Mining Co(SECMC) and Power Cement have signed a memorandum of understanding (MoU) for a trial run of Thar coal for cement production in Power Cement's plant at Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh, Pakistan. The MoU was signed by Sindh Engro Coal Mining Co CEO, Amir Iqbal, and Power Cement CEO, Kashif Habib. Power Cement's Chief Operating Officer, Ahsan Anis, Director Export Marketing, Saifuddin Khan, and DGM International Trade, Badar Bin An... |