- Cement export prices for bulk ordinary Portland cement decrease month-on-month in the Mediterranean Basin and increase in the Persian Gulf & East Africa
- Cement sales in Saudi Arabia increase in June
- Pakistan’s cement exports continue to decline in June
Greenwich (CT), USA, August 23, 2022 – Cement export prices for bulk ordinary Portland cement in the Mediterranean Basin decreased by almost 3 percent month-on-month in July 2022 due to a slowdown in cement demand, according to CW Research's Cement and Clinker Price Assessments for Med Basin and the Persian Gulf & East Africa .
In the Persian Gulf-Arabian Sea, FOB prices for both bulk Portland cement and clinker increased less than 1 percent in the same period. Meanwhile, East African CFR prices for bagged cement increased almost 0.5 percent in the month.
“Rising cost of production and fuel expenses have affected cement prices across multiple markets. Domestic sales and exports have also been negatively impacted by surprisingly stubborn high inflation", observes Wanderson Teixeira, Business Analyst at CW Group.
Head of the cement division at the Federation of Industries announces prices increase
In Egypt, the head of the cement division at the Federation of Industries announced that cement prices will see an increase, amid a rise in gasoline and diesel prices that will affect transportation. However, production costs are expected to remain stable.
Morocco cement sales decrease in June
In Morocco, cement sales declined 9.8 percent in June 2022 and cement deliveries decreased 4.5 percent year-on-year. In the first half of 2022, cement deliveries declined 5 percent year-on-year.
Meanwhile, in Spain, cement consumption increased by 0.5 percent. In the first half of the year, demand increased by 4 percent year-on-year.
Spain’s cement exports decrease in June
Cement exports from Spain declined in June by 17 percent year-on-year, while imports fell more than 20 percent in the same period.
Cement exports continue to decline in Pakistan
Cement exports from Pakistan fell by 50 percent year-on-year in June. Saudi Arabia followed a similar trend with a decline in cement exports of 23 percent compared to June of last year.
The government of Burundi announced that is ready to sign a credit letter with Dangote Cement to build a cement plant in the country, with aim to provide a long-term solution to the ongoing cement shortage in the country.
Shipping market outlook
The Baltic Dry Index reached 2,013 points on July 12, down by 247 points compared to 2,260 points on June 13, due to a decline in the Capesize segment.
In China, iron ore imports declined less than 1 percent in June, year-on-year, as a result of weaker demand from the steel-making industry. From January to June there was a decline of almost 5 percent compared to the same period last year.
Diana Shipping announced that it entered into a time charter contract with Refined Success for its Panamax dry bulk vessel, the 87,150-dwt m/v Electra, with a charter rate of USD 17,500 per day.
The Cement and Clinker Price Assessments for Med Basin and the Persian Gulf are part of CW Research’s price assessment series for tradable commodities. The reports offer prompt cargo (next 30-60 day deliveries) pricing insights, regular monitoring of the market, and an overview of key developments that are crucial for those involved in the cement, clinker, and petcoke trade to understand. The monthly price assessments synthesize key market information based on CW Research analysts’ ongoing interactions with market participants, including traders, exporters, buyers, and other stakeholders involved in the cement, clinker, and petcoke trade.
More information about the price assessments can be found here..