Cement News tagged under: trading
Cochin Port opens fourth terminal15 July 2024, Published under Cement NewsA 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 bagged at Penna Cement Industries’ plant at the port. |
Senegalese cement imports not subject to higher taxes12 July 2024, Published under Cement NewsGambia 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 studies of the manufacturing sector in the country found that more than 80 per cent of the manufacturin... |
Petcoke discounts offer potential03 July 2024, Published under Cement NewsCoal 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 price trend, January 2010-21 June 2024: API 4 Richards Bay 6000kcal/kg (black), 6.5% sulphur USGC ... |
Vietnam cement exports drop 10.8% in 1H2402 July 2024, Published under Cement NewsBetween 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 clinker exports, from five to 10 per cent as of 1 January 2023, as a key factor making Vietnamese clinker... |
US considering carbon pricing for imports02 July 2024, Published under Cement NewsThe 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 Financial Times. “We’re not going to just give up our industrial base to people who are dumping carbon... |
Power Cement Ltd tapped new export markets, including the US and UK02 July 2024, Published under Cement NewsPower 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. The company’s total sales of 9MFY23-24 increased by 13 per cent YoY to 2.1Mt, driven by 72 per cen... |
Volatile EUA market lead by gas price moves, turning bearish on increased fear of EP election outcome28 June 2024, Published under Cement NewsBy 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 several players were afraid of being long in case the election sees a victory for the parties wanting t... |
ECB lowers interest rate while reduced OPEC+ production cuts send oil lower – China discusses ban on >3% sulphur petcoke26 June 2024, Published under Cement NewsBy 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 September. And further cuts from ECB are expected to be ~0.5 per cent more but fully depend on inflation... |
Pakistan's cement export growth unabated in 11MFY23-2420 June 2024, Published under Cement NewsPakistan'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 US dollar. Export volumes advanced 67.1 per cent over the same period to 6.183Mt from 3.7Mt. Exp... |
MPA responds to government proposals for a UK CBAM13 June 2024, Published under Cement NewsGovernment 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 of the UK market (3.6Mt) and, according to analysis from the MPA and UK Concrete, have accelerated i... |