Cement News tagged under: Energy
Energy complex continued lower with petcoke seeing new lows and higher discounts23 January 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The energy complex fell further in December but recovered by the end of 2023. In geopolitical terms, the Israel-Gaza conflict has seen increased risk of spreading and ship attacks in the Red Sea from Houthi terrorists in Yemen increased risk for oil and good shipping. A western UN-backed naval force has put an ultimatum and when attacks stop this would take some support away. The Ukraine-Russia war remains largely frozen, but hints of so... |
FOB discounts decrease but ARA discounts up29 December 2023, Published under Cement NewsCoal, along with oil fell to US$100 on 21 December 2023, and OPEC+ introduced new cuts to support oil at US$75-80. However, oil rose due to naval attacks in the Red Sea and trouble in the Suez Canal. Petcoke FOB contracts collapsed as freight rallied making CFR prices expensive.There was also a lack of interest from far destinations. The discount on FOB contracts increased but fell on ARA contracts. Petcoke discount falls (21 December 2023) Petcoke with 6.5 per cent S is exp... |
Oil pressures energy complex lower despite OPEC+ cuts while petcoke collapses, offering new high discounts towards coal22 December 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The energy complex fell in November, with oil leading the way. The Israel-Gaza war continued but still without any contagion – and no war premium. Ukraine-Russia war is frozen literally, and some hints of possible talks are emerging to the upcoming Russian election. The US Federal Reserve and European Central Bank have both hinted in speeches that interest rates need to be high but not higher, which has given a relief rally in the financia... |
Coal drops and petcoke-coal discounts fall20 December 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The price of coal declined after the Israel-Gaza war premium was taken out and oil also moved down. Petcoke saw downward pressure by coal with discounts falling. As a result, discounts on both FOB and ARA contracts are now in the lower part of the neutral range. Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range with resistance at US$95, US$105, US$115 and US$135. Support is at US$80, US$68 and US$55 with multi-year... |
Ambuja Cements announces green power investment18 December 2023, Published under Cement NewsAmbuja Cements has announced plans to invest INR60,000m (US$723m) in renewable energy, resulting in green power accounting for 60 per cent of its energy requirements. According to the company, 1000MW of solar and wind power projects are planned, including a 600MW solar power project and a 150MW wind project in Gujarat, along with a 250MW solar power project in Rajasthan. This will be achieved by FY25-26 in addition to the company’s existing 84MW of solar and wind power. Ambuja is also ... |
TNO report evaluates energy requirements of EU cement sector in 205008 December 2023, Published under Cement NewsTNO has produced a study for CEMBUREAU that investigates the energy requirements in the European cement industry by 2050. In the coming years, the energy needs of the EU cement industry will evolve significantly, both due to the higher efficiency of cement kilns and to the deployment of decarbonisation technologies, which will require an increased use of electricity. TNO's report assesses three scenarios to achieve the sector’s carbon neutrality ambitions through carbon capture, utilisati... |
Energy complex lower on fading war premium while petcoke discounts fall as coal retraces28 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The Israel-Gaza situation seems to be contained from spreading and the war premium has quickly faded as no disruptions in any markets have been seen. The focus has now shifted back to demand and supply. The two major central banks kept their rates unchanged in the October meetings, keeping to the “higher for longer” rhetoric with inflation still too high for both the US and EU central banks. China’s growth, particularly in the property market... |
Israel-Gaza war drives coal higher with petcoke reversing its drop03 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal was driven higher by the energy complex responding to the Israel-Gaza war and is now at the top of the US$100-140 range. Petcoke reversed its fall as its discount increased, creating a switch from coal. After reaching the major support at US$80, petcoke bounced back and will now follow coal, possibly at the top of the range. Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range with resistance at US$95, US$105, US$... |
MPA welcomes electricity network compensation in UK25 October 2023, Published under Cement NewsUK producers of cement and lime have welcomed the government's plans to boost UK competitiveness through compensating for high network charges as part of the ‘British Industry Supercharger’. The Mineral Products Association (MPA), which represents UK cement and lime manufacturers, says the network charges compensation announced by the Department for Business and Trade will ease electricity costs and narrow the disparity between the UK and EU industrial electricity prices. Combined with ot... |
Drop in oil, reversed by new Middle East situation adding uncertainty, while petcoke discounts attract buyers again20 October 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark A geopolitics crisis emerged with the Hamas attack on Israel at the beginning of October. The European Central Bank raised interest rates 0.25 per cent but is behind the US Federal Reserve (Fed). This has strengthened the US dollar as the Fed still talks of keeping rates high for longer. The two per cent inflation target is still far away. In October the fear surrounding China’s property market re-emerged and, along with higher interest rate... |