Cement News tagged under: coal
Fecto Cement Ltd is in discussion to install solar plant28 November 2023, Published under Cement NewsAccording to AHL Research, Fecto Cement Ltd (FECTC) management held a corporate briefing session on 24 November to discuss the FY22-23 and 1QFY23-24 financial results and future outlook. The management is in discussion of installing additional solar plants to become cost-efficient. In FY22-23 The company generated about 42 per cent of its power through captive plants, and the rest was taken from the Water & Power Development Authority. In 1QFY23-24 captive generation rose by 44 per cent. ... |
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... |
1QFY23-24 is a good omen for Pakistan’s cement industry03 November 2023, Published under Cement NewsPakistan’s cement industry saw healthy growth in profit after tax (PAT) between July and September 2023 (1QFY23-24) on the back of a 32 per cent YoY advancement in sales, according to Spectrum Securities Ltd, which evaluated the results of the top nine cement makers enrolled at the Pakistan Stock Exchange (PSX), representing 93 per cent of the sector’s market capitalisation. The top nine, which represent 93 per cent of the sector's market capitalisation, saw a 33.3 per cent grow... |
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$105, US$... |
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... |
Better capacity utilisation improves financial result of 1QFY23-2418 October 2023, Published under Cement NewsPakistani cement producers listed in the Pakistan Stock Exchange (PSX) have yet to post their financial results for the first quarter of FY23-24 (July-September 2023). Yet, Topline Pakistan Research believes that their profitability will increase by 40 per cent YoY in the 1QFY23-24 due to increased cement dispatches and improved gross margins during this first financial quarter. Net sales are anticipated to grow by 28 per cent YoY to PKR89bn (US$322.27m) in the 1QFY23-24 primarily due to ... |
Coal continues recovery while petcoke sees sharp fall11 October 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll Aps, Denmark Coal has continued its recovery with a higher energy complex, consolidating in the US$110-140 range and balancing Russian supply. Petcoke saw a sharp fall on increased supply, leading to a switch to coal as the discount fell to low levels. Both grades are now below US$100 and pushed down by freight. The increased FOB discount is expected to lure in new buyers. Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range wi... |
Petcoke discount falls sharply, energy complex rises driven by oil20 September 2023, Published under Cement NewsBy 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 boosting the economy have taken some of the fear out of the energy markets, which have seen a recovery in... |
Petcoke discount falls sharply, energy complex rises driven by oil22 August 2023, Published under Cement NewsBy 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 boosting the economy have taken some of the fear out of the energy markets, which have seen a recovery ... |
Petcoke continues rally with discounts into neutral zone03 August 2023, Published under Cement Newsby 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 neutral zone. Further points of resistance are US$95, US$105, US$115 and US$135. Support is at US$85,... |