- FOB prices for bulk ordinary Portland cement increase in the Mediterranean Basin and the Persian Gulf-Arabian Sea, while CFR prices rise in East Africa
- Cement demand rises in Spain after five months of declines
- Exports maintain an upward trend in Saudi Arabia in November
Greenwich (CT), USA, January 17, 2023 – Cement export prices for bulk ordinary Portland cement increased by around 1 percent month-on-month, in December 2022, in both the Mediterranean Basin and the Persian Gulf-Arabian Sea, according to CW Research's Cement and Clinker Price Assessments for Med Basin and the Persian Gulf & East Africa.
For bulk ordinary-grade clinker, export prices increased by less than 1 percent in both regions. Meanwhile, in East Africa, CFR prices increased by around 1 percent in December 2022
"Global cement prices continued to rise on the back of persistently high inflation, rising gas and coal prices, as well as logistical expenses”, explained Wanderson Teixeira, Business Analyst at CW Group.
Cement demand increases in Spain
In October, cement demand in Spain increased over 3 percent month-on-month and nearly 2 percent year-on-year. Meanwhile, cement production in Portugal decreased by over 1 percent in October compared to the same month last year, caused by a slowdown in investment, according to the National Institute of Statistics.
Cement consumption drops in Morocco in November
In Morocco, cement consumption in November fell by around 9 percent compared to the same period in 2021, according to the latest figures published by the Professional Association of Cement Manufacturers. Meanwhile, in Turkey, total cement production decreased by more than 8 percent in the first nine months of 2022 compared to the same period the previous year.
Saudi Arabia reports robust growth in cement exports
Cement exports continue to increase in Saudi Arabia. In November, the country reported a yearly increase of over 60 percent, according to data from the Yamama Cement Company.
Meanwhile, in Pakistan, cement exports fell by nearly 80 percent year-on-year in November.
Shipping market outlook
The Baltic Dry Index surpassed 1,350 points on December 13, up by more than 30 points compared to the previous month.
Meanwhile, the dry bulk market is forecast to continue in transition mode for longer than previously anticipated, impacted by the ongoing decline of the Chinese real estate market
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.
Buy the reports here.