After rising by approximately 4 percent year-on-year in the first quarter of 2021, CW price index shows that the global export price for gray cement is estimated to have decreased by more than 1 percent in the second quarter on a yearly basis, according to the 2Q2021 update of CW Research’s Global Cement Trade Price Report.
The regional average FOB price for cement in Asia-Pacific-Japan, the largest exporting region, is estimated to slightly have increased by 0.5 percent compared to the first quarter. In 2Q2021, however, on a year-on-year basis, export prices are likely to decrease by over 4 percent.
“While Asia-Pacific-Japan shipped over 12 percent more gray cement in volume in the 1Q2021, prices weakened by almost USD 2 per ton on an annual basis. Prices in the region were impacted by a 1 percent decrease on a yearly basis in addition to a slump in China’s export prices which in the first quarter decreased almost 25 percent year-on-year”, stated Carolina Pereira, Director at CW Group.
FOB prices to see further rise in the Med Basin in the third quarter
Average export price for gray cement in the Mediterranean Basin is forecast to increase less than 1 percent by the end of the third quarter of this year.
The biggest price drop in 3Q2021 is expected to be seen in Western Europe, where FOB prices are likely to decline by more than 3 percent compared to the preceding quarter. In Asia-Pacific-Japan, prices are expected to weaken by almost 1 percent quarter-on-quarter.
Turkey remains the largest exporter of gray cement in 1Q2021
In CW Research’s set of countries with data for the first quarter of 2021, Turkey was the largest exporter of gray cement on a global scale, estimated to have exported almost 4 million tons of gray cement, a decrease of 10 percent on a quarterly basis.
With lower volumes, the average export price of gray cement in Turkey in the 1Q2021 increased almost 5 percent from the previous quarter and almost 7 percent on a year-on-year basis, pushing up prices in the Mediterranean Basin.
Clinker export price largely stable during the second quarter of 2021
CW price index for clinker exports is expected to remain largely stable in 2Q2021, increasing 0.1 percent compared to the previous quarter.
Clinker volumes decreased more than 3 percent on a quarter-on-quarter basis. Vietnam was the main clinker exporter in the quarter globally.
The Global Cement Trade Price Report is CW Research's benchmark price assessment for monthly gray cement, clinker, white cement and granulated blast furnace slag prices and volumes. The 150+ page report, published on a quarterly basis, serves as the industry go-to source for monthly price data for over 70 individual markets worldwide, including multiple cornerstone data series: import, export, ex-works and market prices.
Find out more about the report here.