Cement News tagged under: international
Indonesia: sluggish local demand in February as export conditions to China deteriorate20 March 2020, Published under Cement NewsThe Indonesian Cement Association (ASI) noted the rate of YoY decline in national cement consumption has slowed to -0.1 per cent in February from January's position, which was -7.5 per cent. In addition, export volumes, which had surged 40 per cent in January, dropped by 27.9 per cent to 440,000t in February. "It is unfortunate that our cement and clinker exports, which we hope can improve the performance of the cement industry, are constrained by the presence of a corona [virus], resulti... |
US fuel-grade petcoke market advances on Indian and Chinese demand20 March 2020, Published under Cement NewsIndian demand for petcoke is reported to remain strong due to the desacceleration in Saudi refining and higher interest from China. This is leading to a strengthening of the US fuel-grade petcoke market. However, demand from the cement industry has seen a decline. “Cement demand is very low,” said a Miami-based trader to Platts Coal Trader. “Plants are shutting down for a few months because they have no sales.” India is the largest market for US fuel-grade petcoke and imported 6Mt from the... |
Negative sentiments in Pakistan Stock Exchange20 March 2020, Published under Cement NewsThe Pakistan Stock Exchange (PSX) has lost more than 2200 points on the 100 index on 18 March and across the board. All major scripts, including the cement industry turned red, causing huge losses to investors. The market reacted negatively on the announcement of a meagre cut in interest rate by the Central Bank of Pakistan after four years. The State Bank announced 75 basis points reduction in interest rate to 12.5 per cent that was less than the market's anticipation in the wake of economi... |
Pakistan sees mixed 7MFY19-20 cement production data19 March 2020, Published under Cement NewsPakistan's Federal Bureau of Statistics (PBS) has released production data for the period July 2019- January 2020 with a note that overall output of large-scale manufacturing industries (LSMI) decreased by 3.4 per cent during the 7MFY19-20 when compared to the equivalent period of the previous year. However, more surprisingly, the LSMI output decreased by just under six per cent for January 2020 compared to January 2019 and increased by 7.1 per cent when compared to December 2019. The trend... |
Cambodia has not yet seen a slowdown in cement sales over COVID-1919 March 2020, Published under Cement NewsThe coronavirus has not had a significant impact on the cement and other construction material markets in Cambodia, which are retaining strong demand at present. The Cambodian construction sector reports no slowdown in demand because of the COVID-19 pandemic, while cement prices are holding up. "Demand remains strong for cement and building materials due to infrastructure development, urbanisation, long-term investment, and family and population growth. We believe the Cambodian economy wil... |
Australian contractors on the brink of collapse19 March 2020, Published under Cement NewsAustralia's construction industry is said to be on the brink of collapse, according to John Holland's CEO, Joe Barr. The building contractor reported losses of US$1bn in February and is in dispute with Transurban over who should pay for cost blow-outs caused by delays on Melbourne's AUD6.7bn (US$1.79bn) West Gate Tunnel project. "I won’t sugarcoat it," Mr Barr told The Australian Financial Review. "Tier-one contractors in Australia are not making any money, and governments across Australi... |
The Korean Cement Association joins the WCA19 March 2020, Published under Cement NewsThe World Cement Association (WCA) has announced that it is welcoming the Korea Cement Association (KCA) as an affiliate member of its international network. "KCA has a long history supporting the advancement of the cement and concrete industries locally, and we look forward to working with them in a global context,” explains Ian Riley, CEO at WCA. "It’s important for us to have a diverse membership that is not just made up of cement producers, and so we’re very keen to welcome other Associ... |
Oman announces measures to ensure cement supply18 March 2020, Published under Cement NewsOman's Ministry of Commerce and Industry (MOCI) has announced measures to ensure there will be no shortage of cement in the market. "The Ministry will coordinate with Omani cement companies to ensure supply in all governorates and look at an increase in operational capacity to cover shortages, if any," said a notice on social media. The MOCI will also make clearances for imported shipments directly from various outlets. The Ministry confirmed that it had not stopped importing cement pr... |
MPA calls for a ‘cash bridge’ for members18 March 2020, Published under Cement NewsThe Mineral Products Association (MPA) has written to the Chancellor of the Exchequer calling for greater support for businesses in the UK during the COVID-19 pandemic. Nigel Jackson, MPA CEO, called for a general facility to delay VAT, corporation tax and employers' National Insurance contributions as a way to help member companies facing extreme economic conditions. He wrote: "Businesses need more certainty and a 'cash bridge' to ensure that current viability is not destroyed purely beca... |
Pakistan cuts interest rates and releases coronavirus economic package18 March 2020, Published under Cement NewsState Bank of Pakistan (SBP) on 17 March announced three measures to support the economy and public health in response to the challenges posed by the spread of COVID-19. It reduces the interest rates and has enabled a special package for industry, including cement plants, as well as measures to meet the challenges of the coronavirus pandemic. First measure According to an official statement of SBP, it has cut policy rate by 75 basis points to 12.50 per cent but below as per market expecta... |