Cement News tagged: Trading
Nigeria: agreement reached on Bol managed import levy funds
The Bank of Industry (BoI) in Nigeria said allegations over the misapplication of the cement funds which had prompted investigations by the Economic and Financial Crimes Commission (EFCC) had now been resolved. BoI was appointed in 2009 to manage the fund that accrued from levies on imported cement for the development of Nigeria’s cement industry. Bol further explained that new terms had be...
Pakistan: exports down by 17.41% in 11 months
Pakistani cement exports have fallen by 17.41 per cent to 5.48Mt during the first 11 months of the fiscal year, compared to exports of 6.65Mt during the same period in the previous year. A spokesperson from All Pakistan Cement Manufacturers Association (APCMA) has said that an increase in federal excise duty (FED) on cement has negatively effected the market. The proposed change in FED will...
Vietnam: export volumes fall for first five months
Vietnam earned US$260.64m from exporting 7.12Mt of cement and clinker in the first five months of this year, down 0.7 per cent on-year in value and 15.7 per cent in volume. Bangladesh, Philippines and Taiwan were the major importers of Vietnamese clinker and cement in the first five months of this year, the Vietnamese Ministry of Industry and Trade said. Bangladesh took the lead aft...
Iran Mercatile exchange resumes cement export trade
Cement offerings for export have resumed at Iran Mercantile Exchange, the IME chief said. Isfahan Cement Company initiated the offering with 2000t of cement on Saturday, 1000t of which were traded on cash payment. “We intend to expand our export markets for cement and unify prices by exporting the commodity through IME,” Hamed Soltaninejad was also quoted as saying by IRNA. Government-enf...
Paraguay: INC faces increased Brazilian imports
Brazil’s current imports of around 400,000 bags of cement is damaging the Paraguayan cement industry, according to Jorge Méndez, CEO of Industria Nacional de Cemento (INC). This represents over a third of monthly cement demand. "What we're seeing is that cement consumption is virtually unchanged, but a lot of product is entering [Paraguay] from Brazil," he said. Particularly in Alto Paraná i...
Pakistan cement exports 5Mt in FY15-16
During first 10 months of the current FY15-16, the Pakistan cement industry exported 5.05Mt of cement and earned export revenue of US$274.34m compared to 6.64Mt at US$382.39m in July 2014-April 2015. This translates a fall of 23.86 per cent and 28.25 per cent in terms of quantity and value in dollar respectively on YoY basis, says data released by the Pakistan Bureau of Statistics (PBS). ...
Holcim Indonesia to expand exports as domestic competition tightens
LafargeHolcim subsidiary, PT Holcim Indonesia, plans to boost exports to Australia, Sri Lanka and Bangladesh this year amid unstable domestic demand, reports The Jakarta Post. After the acquisition of Lafarge Cement Indonesia, also known as Semen Andalas, in February and the commencement of operations at Tuban II plant in East Java last August, Holcim's production capacity has risen to 15Mta ...
Tanzania: Twiga dividends increase 15%
Twiga Cement announced at its Annual General Meeting held in Dar es Salaam yesterday that the dividend had risen from TZS267 (US$0.12) in 2014 to TZS306 in 2015. This increase is a result of profits going up to TZS56.2bn despite depreciation of the shilling, which had an impact on both fuel and quarry services. Alfonso Rodriguez, Twiga Cement managing director, said that the company saw 2015...
Philippines: Mariveles dry bulk terminal
Sesia Nectar Port Services Inc announced the start of commercial operations at its Mariveles Dry Bulk Terminal in the Freeport Area of Bataan (FAB), Philippines. The company began developing the port in 2015. Ramon Atayde, Sesia chairman, said that with the use of mechanised material handlers for faster and more efficient discharge of shipment, the new facility will optimise the operations o...
South Africa: PPC shares drop
PPC Ltd shares plunged after it said talks with a credit ratings agency will probably lead to a downgrade. The company is preparing a capital raising of ZAR4bn (US$254m) to be used to reduce debt and fund expansion plans, PPC said in a statement. It said shareholders will be advised on the credit agency’s final decision when it has the information. PPC stock declined 18 per cent, its larges...
Bangladesh remains Vietnam's strongest export market
From January to April, Vietnam exported 5.99Mt of cement and clinker to Bangladesh, which remains Vietnam's largest export market with US$64.46m. The Philippines (US$58.47m), Taiwan (US$10.67m), Mozambique (US$9.9m), and Chile (US$9.72m) are also major importers of Vietnamese cement. Vietnam's cement consumption in these four months was also very positive reaching 18.85Mt, representing an in...
Pakistan: Dewan denies sale of 50% stake
It has been rumoured that 50 per cent of Dewan Cement Ltd (DCL) shares are being sold to undisclosed strategic buyers. As a result the company’s share value and volume experienced heavy activity in the past weeks on the Pakistan Stock Exchange (PSE). DCL has denied any such sales to the PSE, claiming, “Many shareholders for their personal benefits circulate rumours and speculation, to which w...
Iraq ban challenges Iran cement industry
The Iraqi government has passed a bill banning the imports of Iranian cement to protect its domestic cement industry. Mohammad-Reza Lotfi, the deputy head of the Association of Cement Industry Entrepreneurs, said that Iran's cement exports to Iraq amounted to some 7Mt or around 60 per cent of Iranian exports last year. Mr Lotfi said that the only solution is to look for new markets, such as ...
Saudi Arabia: lifting of export ban to provide little cheer for cement producers?
The much-anticipated lifting of Saudi Arabia's ban on cement exports, first implemented in 2008 and extended in 2012, is expected to provide little relief for the country's cement producers, according to emerging market investment bank Arqaam Capital. Mohammed Kamal, executive director of equity research at Arqaam Capital said that export volumes would likely be capped at 20 per cent of out...
Iran: cement exports down 20%
Iranian cement and clinker exports have fallen by 20 per cent over the past Iranian year (1394), an official said on Tuesday. The secretary of the Association of Cement Industry Entrepreneurs, Abdolreza Sheikhan, said that Iran's exports of cement and clinker shrank to nearly 15Mt from 18.5Mt a year ago. Sheikhan stated security concerns in regional countries as a key reason cements and cli...
Dem Rep Congo: import tax under consideration
Following the announcement of Cimenterie de Lukala (Cilu) earlier this week that it plans to close due to “unfair competition”, the governor of Kongo-Central, Jacques Mbadu Nsitu, is considering a new tax on grey cement imports. He ordered his government to draw up the required legislation which is expected to protect locally-produced cement. At present, the price of a bag of cement in Mata...