Cement News tagged: Trading
Pakistan loses Afghan cement market share to Iran
The declining trend of cement exports continues to worry Pakistani manufacturers as cement exports to Afghanistan have plummeted by 10 per cent annually, owing to availability of cheaper Iranian cement there. The industry said that the energy crisis and constant hike in petroleum products have made its product uncompetitive even in the neighbouring country, the main purchaser of cement from ...
Chettinad plans to delist, India
The promoters of Chettinad Cement Corporation are making a voluntary offer to the company's public shareholders to delist the shares from stock exchanges. The stock is currently listed on the National Stock Exchange and Madras Stock Exchange and in the permitted securities category of the Bombay Stock Exchange. The board is meeting on Tuesday to consider the delisting proposal, the Econo...
Dangote plans London listing by 3Q13
Aliko Dangote said on Thursday he was aiming to list his US$11bn cement company on the London stock exchange by the third quarter of 2013. "If the market is good by next year, we will hit the market, sometime. Maybe third quarter ... we will try," Reuters reported him as saying on the sidelines of the World Economic Forum in Addis Ababa.
Concerns over price hikes, Trinidad & Tobago
The Trinidad and Tobago Manufacturers' Association has expressed concern of a 19-21 per cent rise in prices. The situation is affecting the TTMA's members and severely hampering the construction industry, Trinidad Express Newspapers reported a spokesperson saying. In a May 2 circular to contractors, TCL announced price increases between 19 and almost 21 per cent on all types of cement, a...
Guyana: consumers urged not to buy cement at inflated prices
Acting Commerce Minister Irfaan Ali is advising consumers not the pay the increase in what he has described as extremely inflated prices for cement in Guyana. According to the minister a price of GYD1395 (US$6.90) has been agreed upon for the retailing of this commodity and any distributor selling above this will be prosecuted. Speaking at a press conference held in light of the recent i...
India: cement closures called in Rayalaseema
The Rayalaseema Rashtra Samiti, an organisation based in Proddatur of Kadapa district, has given a closure call for all cement factories in the four Rayalaseema districts on 23 May if the price per bag is not reduced to INR150 (US$2.80) from the current INR330 (US$6.24). Samithi president Kuncham Venkata Subba Reddy has sent out notices to the cement factories and also written a letter to Pr...
India: cement prices have started to weaken
CLSA India says cement prices have started to drop across India, with dealers expecting more falls ahead, according to its India Reality Research survey. Cement prices have fallen by an average of 2% per bag since 15 April, with dealers citing rising inventories, while demand is being hit by "sluggish" construction activity. ACC has risen 6% in 2012, Ambuja Cements is down 4%, while Ultrat...
Pakistan cement exports earn US$339m in 9MFY2011-12
During 9MFY2011-12 (July-March), Pakistan cement exporters saw recovery in cement exports in terms of value. In Pakistani currency, the export also rose by 6.06%. In addition, the average cement price improved. The Pakistan cement manufacturer and exporters exported 6.51Mt of cement and earned US$339.208m compared to 6.72Mt at US$329.696m in the corresponding period last year. The figures ...
Nigeria: cement manufacturers seek import ban
Nigerian cement manufacturers have called on the federal government to ban bulk cement imports before the government’s August deadline, claiming that the volume of cement currently produced in the country is enough to meet local demand. “[The] Government should enforce the ban before the August deadline,” said Mr Daljeet Ghai, Dangote Cement group chief executive. “Dangote alone has the capac...
Pakistan: cement import starts through ICP
The newly-opened Integrated Check Post (ICP) has received its first Pakistani cement imports from the road route, but traders continue to be unhappy over the high handling charges. Earlier, India was importing cement through the rail route and shifting to the road route is being seen a boost for the trade. Unhappy with the high handling charges at the ICP, the exporters and importers held a ...
Oman forecast to see increased exports
Oman is expected to witness increasing exports this year thanks to demand from markets like Yemen and East Africa, a new research report has forecast. Raysut Cement is expected to be a major beneficiary as exports accounted for 32 per cent of sales in 2011, states the report by EFG Hermes. Domestic cement consumption, meanwhile, is expected to rise by seven per cent during the current year ...
Ohorongo delivers cement shipment to south Angola
Namibian cement producer, Ohorongo Cement, has delivered its first consignment of bulk cement to south Angola, according to local press reports. A bulk tanker shipped the load to Santa Clara last Monday, The Nambian reported. The shipment forms part of a contract between Benjamin Hauwanga, owner of BH Motorspares in Nambia, and his customer CFRL in Santa Clara. The deal will see about 30,00...
Pakistan firms see profits in exports to Afghanistan
Pakistan’s cement exports are being geared up due to increase in Afghan export prices to US$50-55/t from the previous level of US$39-45/t.??According to informed sources, the improved export price has finally attracted interest for Pakistani exporters, leading to a 32% YoY increase in exports to Afghanistan in January 2012. However, Pakistan’s cement exports to India fell by 8% in January 201...
Saudi Arabia stops cement exports
Saudi Arabia has stopped cement and clinker exports to prevent shortages and to stabilise domestic prices. The kingdom’s western region, which includes the Red Sea port city of Jeddah and the Islamic holy cities of Mecca and Medina, has suffered a cement shortage as the government increased spending for infrastructure. Prices for new homes in Jeddah rose as much as 10% this month because o...
Pakistan: FY12 cement sales helped by local dispatches
FY12 has been witnessing a drop in Pakistan’s export sales, whereas domestic cement dispatches have been rising. The latest numbers released by the All Pakistan Cement Manufacturers Association (APCMA) up until January FY12 show a continuation of this trend. Local dispatches improved by 7% YoY from 12Mt in 7MFY11, while during January 2012 alone, local deliveries improved by nearly 9% to 1.9...
India: Cement may firm up on new coal pricing
Additional cost pressure due to costlier raw material from Coal India Ltd (CIL). Companies expect prices to rise by INR8-10 a bag (US$0.15-0.19).