Displaying items by tag: market
EU and European ambassadors urge Bangladesh to lift restrictions on LafargeHolcim Bangladesh limestone sales
10 February 2023Bangladesh: The European Union (EU) and Spanish ambassadors and Swiss chargé d'affaires to Bangladesh have formally requested that Bangladeshi authorities lift all restrictions on LafargeHolcim Bangladesh's sale of crushed limestone in the country. The Financial Express newspaper has reported that Bangladeshi court previously ruled in favour of LafargeHolcim Bangladesh's right to sell its crushed limestone 'on the open market' on 5 January 2022. Limestone Importers and Suppliers Group had challenged the legal status of such sales, given that the raw limestone used in LafargeHolcim Bangladesh's produces its crushed limestone production is imported from India.
The Bangladesh government granted LafargeHolcim Bangladesh, a subsidiary of Switzerland-based Holcim, a temporary licence to resume its crushed limestone operations on 27 March 2022. This resulted in protests by local limestone producers.
US increases cement production amid consumption boom in 2022
07 February 2023US: US cement companies produced 95Mt of cement in 2022, up by 2.2% year-on-year from 93Mt in 2021, according to the United States Geological Survey (USGS). The country exported 900,000t of cement and clinker, down by 4.3% from 940,000t. The USGS recorded a 9.1% leap in apparent national consumption, to 120Mt from 110Mt. Cement imports helped to close the gap, rising by 20% year-on-year to 24Mt from 19.9Mt.
Among the US's main trade partners for cement imports, cement production fluctuated in 2022. Turkish cement production rose by 3.7% year-on-year to 85Mt, Mexican cement production fell by 3.8% year-on-year to 50Mt and Vietnamese cement production rose by 9.1% year-on-year to 120Mt. Globally, the USGS estimated a year-on-year cement production decline of 6.8% to 4.1Bnt.
Anhui Conch Cement's profit halves in 2022
31 January 2023China: Anhui Conch Cement has reported a provisional net profit of US$2.07 - 2.46bn. Dow Jones Institutional News has reported that this would correspond to a decline of 50 - 58% year-on-year from 2021 levels.
Cementos Progreso launches in Costa Rica
31 January 2023Costa Rica: Cementos Progreso has launched its brand in Costa Rica, marking its entry into a seventh Central/South American market.
Chief executive officer José Raúl González said “Our company believes in the region, understands its potential and is committed to adding value to all Central Americans. The launch of our flagship brand in the Costa Rican market is key to our growth and investment plans, which seek to generate development and employment in the local and regional cement industry."
Indian cement demand to exceed 380Mt in 2023 financial year
31 January 2023India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.
India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.
Pakistan: Lucky Cement recorded sales of US$876m in the first half of its 2023 financial year, up by 42% year-on-year from US$616m in the first half of the 2022 financial year. It sold 3.57Mt of cement and clinker, down by 24% year-on-year from 4.7Mt. The producer's costs rose by 50% to US$585m from US$391m. It recorded a profit of US$73.1m, up by 6.8% from US$68.4m.
During the half-year period, total national cement sales dropped by 17% year-on-year to 20Mt, while Pakistan's cement exports fell by 49% to 1.7Mt. The aftermath of flooding, high interest rates, inflation and cost of goods and cuts to government spending all impacted the domestic cement market, while 'global recessionary trends' cut into exports, according to Lucky Cement.
Lucky Cement holds a 15% share in the Pakistan market and a 34% share in the export market.
Siam Cement Group forecasts 10% sales growth in 2023
27 January 2023Thailand: Siam Cement Group (SCG) has forecast 10% year-on-year growth in its consolidated sales to US$19.1bn in 2023, from US$17.4bn in 2022. The Bangkok Post newspaper has reported that the group expects sales to rise due to the reopening of the Chinese market and an anticipated growth in Thai domestic tourism.
High value-added goods and services constituted 34% of SCG’s total sales in 2022. The group increased its installed renewable power capacity by 78% to 234MW throughout the year. SCG has planned capital expenditure investments of US$1.22 - 1.53bn in 2023.
SCG president and CEO Roongrote Rangsiyopash said "The economic outlook for 2023 seems to be better than last year, but we will continue to monitor risk factors that may affect our businesses.”
Eagle Materials boosts sales and earnings in first nine months of 2023 financial year
26 January 2023US: Eagle Materials’ consolidated sales were US$1.68bn during the first nine months of its 2023 financial year, up by 16% year-on-year from US$1.45bn in the corresponding period of the 2022 financial year. Its net earnings were US$361m, up by 20% year-on-year from US$300m.
In its cement business, the group noted a drop in volumes and a rise in prices year-on-year during the third quarter of the 2023 financial year. Low inventory levels and ‘difficult weather’ reportedly impacted on demand. The group’s cement volumes fell by 13% year-on-year to 1.7Mt. This resulted in a 2% drop in the cement business’ revenues, to US$256m.
Livetouch Investments plans Zvishavane cement plant
24 January 2023Zimbabwe: Livetouch Investments plans to build a new 200,000t/yr cement plant in Zvishavane, Midlands Province. The first phase of construction will reach completion in mid-2024 and cost US$20m. When subsequently commissioned, the plant will create 300 new jobs. The Chronicle newspaper has reported that the upcoming plant is situated close to Livetouch Investments' existing limestone resources.
Livetouch Investments' mananging director Kyle Wang said that the company is building the plant in order to reduce Zimbabwe's reliance on imports of cement, notably via Zambia. Zimbabwe already has a cement capacity of 2.6Mt/yr, but a cement demand of just 1.6Mt/yr.
DG Khan Cement despatches cement to the US
19 January 2023Pakistan: DG Khan Cement despatched its second cement shipment to the US on 18 January 2023. The shipment consisted of 37,500t of low-alkali cement, and is part of an order for 600,000t. The Business Recorder newspaper has reported that DG Khan Cement previously shipped 50,000t to the US in June 2022. The latest delivery is destined for Houston, Texas.
DG Khan Cement's executive director Farid Fazal said that the Pakistan cement industry is position to obtain an over 10% share in the US import market. During 2022, Pakistan and 24 other countries exported cement to the US.