Cement News tagged: Trading
Cochin Port opens fourth terminal
A new cement terminal has entered operation on a 1.14ha plot at Ernakulam Wharf, Kerala, India. The Cochin Port Trust launched the port’s fourth terminal, which is expected to handle 0.3Mta of cement. The first vessel to enter the terminal was the Penna Suraksha, the largest self-discharge vessel in Asia with a discharge capacity of 1000tph. The 25,000t cargo from Krishnapatnam will be bagge...
Senegalese cement imports not subject to higher taxes
Gambia will not levy higher taxes on cement imported from Senegal, confirmed Gambia's Minister of Trade, Industry, Regional integration and Employment, Mr Baboucar Ousmaila Joof. Mr Joof explained that the excise tax is levied on imported bagged cement regardless of its source, justifying that the measure doesn't target any specific country as that would constitute discrimination. “Past stu...
Petcoke discounts offer potential
Coal prices moved slightly higher with oil and geopolitics stabilising to surpass the US$110 mark on 21 June 2024. However, the risk is growing with the latest developments in the Israel-Hezbollah conflict. Petcoke FOB prices pushed higher on demand and coal prices as Venezuelan material. Petcoke discounts decreased slightly and are still in the cheap zone, offering potential. Coal FOB...
Vietnam cement exports drop 10.8% in 1H24
Between 2019 and 2022, the average export value of cement and clinker ranged from US$1bn to US$1.3bn annually. However, in 2023, export earnings sharply declined due to falling prices. The average Free On Board (FOB) price of clinker fell to US$31-32/t in May 2024, a notable decrease from US$46-48/t in 2022. The country’s Ministry of Construction (MoC) cited an increase in the tax on clink...
US considering carbon pricing for imports
The US is looking to a potential carbon pricing system for goods and services imported into the country as part of a wider carbon policy. The step is a key policy shift as it looks to counter Chinese industrial competition and reduce emissions. John Podesta said the US would fight against “freeriding” by foreign producers of carbon-intensive industrial imports, in an interview with the UK Fi...
Power Cement Ltd tapped new export markets, including the US and UK
Power Cement Ltd held its analyst briefing on 26 June, during which management reviewed past performance and looked ahead. The company posted a loss of PKR1.2bn (US$4.32m) in 9MFY23-24 compared to a profit of PKR0.6bn in the previous period. Top company officials primarily attributed the loss to higher financial charges (up 39 per cent YoY) during the period amidst elevated interest rates. ...
Volatile EUA market lead by gas price moves, turning bearish on increased fear of EP election outcome
By Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market saw a marked increase at the end of May as the gas market rose sharply in fear of Norwegian production cuts. The carbon price reached EUR78, but has since dropped as Norwegian producers have assured the market of supply. The EUA price fell sharply and in combination with the European Parliamentary elections on 9 June, as sev...
ECB lowers interest rate while reduced OPEC+ production cuts send oil lower – China discusses ban on >3% sulphur petcoke
By Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitical risk premiums slowly vanished and need new events to return. Meanwhile, at the start of June, the focus turned towards OPEC and the central banks. The European Central Bank (ECB) delivered its first cut of 0.25 per cent since 2019, giving equities a boost. However, the US Federal Reserve is still seen on hold until at least Sept...
Pakistan's cement export growth unabated in 11MFY23-24
Pakistan's cement and clinker exports increased by 40.5 per cent in the 11MFY23-24 (July 2023-May 2024) to US$236.79m, from US$168.58m in the 11MFY22-23, the Pakistan Bureau of Statistics (PBS) data said. In Pakistani rupee terms, export revenue saw a significant growth of 61.1 per cent to PKR67.19bn (US$241.1m) during the period, sustained by the local currency's competitive rates against the...
MPA responds to government proposals for a UK CBAM
Government proposals for a UK carbon border adjustment mechanism (CBAM) have been welcomed by the UK cement industry, but the Mineral Products Association (MPA) and UK Concrete say it has to happen by 2026. A CBAM in the UK is also important to reduce the risk of high-emission cement undercutting domestic production and flooding the UK market. Cement imports already account for 30 per cent ...
Gambia to temporarily allow Senegal imports
Gambia’s government has announced a temporary re-opening of its border with Senegal to allow the delivery of cement that has been held up at the border for several weeks, reports Bénin Web TV. The step will help to meet domestic market requirements. Since 16 May 2024, many cement trucks have been help up at the border, causing disruptions in building material supply to Gambia. The Cement Impo...
Substantial growth in Bangladesh's cement exports during 11MFY24
Bangladesh's cement industry has experienced significant export growth during the 1MFY24. The sector recorded a 34.3 per cent YoY increase in cement export revenue, reaching US$16.81m during the 11MFY23-24. This marks a substantial rise from US$12.52m in the corresponding period of the previous year and includes certain salt, stone, and related products. Cement exports also grew by 23.4 per ce...
Belarus Cement Group to ship 67,000t to Russia
The Belarus Cement Group plans to ship 67,000t of cement to Russia in May using its own train, according to the Ministry of Architecture and Construction of Belarus. “This month, the BCG has launched a fixed-route train of its own hopper wagons to deliver cement to Russia. The first train was dispatched from the Belarusian Cement Plant (Kostyukovichi, Mogilev Oblast) to Moscow Oblast,” th...
Sharp rally in EUA sends the market back into long-term uptrend, consolidation expected
By Frank O. Brannvoll, Brannvoll ApS, Denmark Independent carbon market news remained scarce while the market followed particularly volatile gas and power prices. Trading was erratic with actions from speculative players in a relatively thin market. The focus is still on how the European Parliament elections will play out, as EU Commission papers for the next period have downplayed the focu...
Venezuelan sanctions reimposed, Russia pauses coal export fee, while petcoke discount remains attractive
By Frank O. Brannvoll, Brannvoll ApS, Denmark The war premium and geopolitical tensions eased during April and the energy market’s focus has again shifted towards the demand factor in the energy complex. Oil has retraced together with coal and gas. IMF has adjusted up the expected global GDP growth to 3.2 per cent, but both the US Federal Reserve (Fed) and European Central Bank (ECB) have r...
Pakistan's State Bank notes export growth in 1HFY23-24
The State Bank of Pakistan (SBP) has reported that the country’s cement sector shows significant export growth during the 1HFY23-24. Cement production saw a modest rise of 1.9 per cent during 1HFY23-24, largely attributed to the increased export volume. This was further bolstered by a surge in domestic sales in the last few months. Cement demand in the country’s export destinations, includi...