Global Cement News

US: The United States Geological Survey (USGS) has reported that total US cement shipments in the first three months of 2020 were 20.9Mt, up by 7.9% year-on-year from 19.4Mt. Imported cement accounted for 2.98Mt (14%) of shipments over the period, up by 22% from 24.4Mt.

The USGS said, “Measures instituted to mitigate the spread of the COVID-19 pandemic may cause disruptions in the cement industry across the United States and around the world. However, no US cement plant closures or idlings were reported in March 2020.”

Chile: Cementos Bío-Bío has taken a loan worth US$37.6m from BCI-Itaú bank and Scotiabank. It took the measure ‘to ensure the company’s liquidity’ in response to the coronavirus outbreak. Cementos Bío-Bío said, “The Covid-19 pandemic brings risks due to its impact on the world and local economy. The company estimates that it will strongly affect construction, impacting cement dispatches.” It added, “The company maintains a comfortable cash position,” with liquidity of US$53.3m.

Egypt: The Ministry of Local Development has announced the start of a six-month period in which it will issue no construction licences for private buildings in Greater Cairo, governorate capitals and major cities from 27 May 2020. Egypt Today has reported that the suspension also affects licences for building modifications and extensions.

President Abdel Fatah al-Sisi has ordered that mega-infrastructure projects should continue, subject to additional protective measures against the COVID-19 outbreak. Al-Sisi postponed the inauguration ceremonies for the newly constructed New Administrative Capital and Grand Egyptian Museum.

India: HeidelbergCement has recorded a profit of US$8.77m in the three months to 31 March 2020, up by 8.9% year-on-year from US$8.06m over the corresponding period of the 2018 - 2019 fiscal year. Sales fell by 4.7% to US$67.5m from US$70.8m. HeidelbergCement India has attributed the profit to a decrease in operating expenditure of 8.6%, to US$50.7m from US$55.4m, according to Dion News Service.

Thailand: Siam Cement Group’s (SCG) planned sale of up to 30% of shares in its subsidiary SCG Packaging has received the approval of the Securities and Exchange Commission. SCG is awaiting better market conditions for the sale, after it postponed the initial public offering (IPO) in mid-March 2020 following the coronavirus outbreak. The company said, “Once the overall situation becomes clearer and more conducive, SCG will proceed with its IPO and the listing of its shares on the Stock Exchange of Thailand.”

SCG said that it is selling the shares to raise funds for ‘international and domestic business expansion.’