Displaying items by tag: Price
Lafarge Zimbabwe says it can supply the market
14 September 2018Zimbabwe: Lafarge Zimbabwe says that it is able to supply the market with cement following a shortage. In a statement the subsidiary of LafargeHolcim said that the recent surge in demand was ‘temporary’ and that, overall, the situation was a ‘positive signal of economic growth,’ according to the Chronicle newspaper. It said that the situation might be attributable to a rise in mortgage finance as well as improved disposable income following a successful tobacco and maize farming season on the back of the Command Agriculture Programme.
Cement prices have reportedly risen by over 50% due to the shortage. Producers have blamed her situation on technical problems following maintenance works at their plants. They have also ruled out any further increases in prices. Despite the cement shortage they have warned against trading cement on the black market.
India: Roads and highways minister Nitin Gadkari has threatened implementing price controls on cement. He blamed problems his ministry has faced building concrete roads on alleged price collusion, according to the Telegraph India newspaper. During questions at the Indian Parliament he said that if cement producers did not ‘fall in line’ then he would propose placing cement under the Essential Commodities Act.
Turkey: Göltaş Çimento and AS Çimento are being investigated by the Turkish Competition Authority for alleged price fixing of cement. The government body says that its preliminary investigation in early May 2018 has discovered ‘serious’ findings. Further investiation will follow to examine whether the law has been broken and whether fines are applicable. Both cement producers operate plants in the southwest of the country.
Uganda: The Ministry of Trade, Industry and Cooperatives has backed down from allowing bulk imports of cement into the country following price stabilisation. The market faced soaring prices in April 2018, according to the Daily Monitor newspaper. The ministry said that prices have returned to the level they were before the crisis. In April 2018 the government asked cement producers to resolve a local cement shortage. Local companies Hima Cement and Tororo Cement blamed the problem on reduced electricity supplies to their plants.
Rwanda: Vincent Munyeshyaka, the Minister of Trade and Industry, says that traders who are charging too much for cement will be fined. He told the New Times newspaper that about 30 traders have been fined for cement price speculation so far. Fines range up to about US$350. The country has faced a shortage of cement since February 2018 when local producer Cimerwa started upgrade work at its Bugarama plant.
Uzbekistan: President Shavkat Mirziyoyev has signed a resolution that fixes the price of cement to support housing and infrastructure projects. The new legislation will force approved suppliers to sell 2Mt of cement for a fixed price to contractors, according to Uzbekistan Daily. Tax levels for cement producers have also been increased.
Imported petcoke price to India hits high in March 2018
19 March 2018India: The price of imported petcoke has hit a multi-year high in March 2018. Increased demand and a shortage due to maintenance work at refineries has caused the rise in price, according to the Mint newspaper. In November, the Indian Supreme Court temporarily banned the use of petcoke in Delhi, Haryana, Rajasthan and Uttar Pradesh. The import duty of the fuel was then raised to 10% from 2.5%.
Deepak Kannan, managing editor of Asia Thermal Coal at S&P Global Platts, said that local demand for petcoke is around 23 – 24Mt/yr but that local supply is only 14Mt/yr. Much of the country imported petcoke comes from the US or Saudi Arabia. Petcoke prices are expected to relax in April 2018 as refineries return to normal operation.
Cimentos de Mocambique denies raising prices
06 March 2018Mozambique: Cimentos de Mocambique has denied increased the price of its cement products. At a press conference in Nampula Jorge Reis, the managing director of Cimentos de Mocambique, said that his company had nothing to do with the ‘sharp’ increases in the price of cement charged by retailers, according to the Mozambique News Agency. Reis said that the cement producer had not raised its prices since late 2016. He added that the company’s Nacala plant had been affected by an irregular electricity supply. It is currently negotiating with its electricity supplier to improve its service. Retailers have blamed the price hike on an alleged shortage of cement and difficulties in acquiring it from cement plants.
The Provincial Director of Trade and Industry, Norberto Narciso, said that information from Cimentos de Mocambique would be distributed to businesses in Nampula and in the neighbouring province of Niassa, which also acquires cement from Nacala. He also promised that the government’s National Inspectorate of Economic Activities would check the retail price of cement to see whether the retailers are respecting the ‘recommended profit margins’.
Insee Cement and Tokyo Cement approved by Sri Lanka Consumer Affairs Authority to raise prices
06 March 2018Sri Lanka: The Sri Lanka Consumer Affairs Authority (CAA) has allowed Insee Cement and Tokyo Cement to increase the prices of a 50kg bag of cement. The Ministry of Industry and Commerce gave its approval subject to the ratification of the CAA as it is a price-controlled commodity, according to the Times of Sri Lanka newspaper. The cement producers made the request to raise their prices due to increasing costs of raw materials. However, the country’s three other producers have not made any request to the CAA to raise their prices and the cost of imported cement is reported unchanged.
ACC says that petcoke import ban will raise cement prices
24 January 2018India: Neeraj Akhoury, the managing director and chief executive officer of ACC Cement, says that a ban on imported petcoke to the National Capital Region will increase the cost of cement. Akhoury told the Business Standard newspaper that the cement producer would be able to cope with the restriction through the use of alternative fuels. The Environment Ministry put the ban into effect on 19 January 2018 to control air pollution. This follows a relaxation of a temporary ban on petcoke in December 2017 by the Supreme Court to the cement industry.