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Bulk ordinary FOB cement prices rise in the Med Basin and the Persian Gulf in March

21 March, 2023

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  • FOB prices for bulk ordinary Portland cement increase in the Mediterranean Basin and the Persian Gulf-Arabian Sea, while CFR prices decline in East Africa
  • Cement consumption decreases in Morocco in the first two months of 2023
  • Exports maintain upward trend in Saudi Arabia

 

Greenwich (CT), USA, March 21, 2023 – FOB prices for bulk ordinary Portland cement increased by around 2 percent month-on-month, in March 2023, in the Mediterranean Basin, and increased by over 3 percent in 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 decreased by almost 4 percent in the Mediterranean Basin, and increased by nearly 10 percent in the Persian Gulf-Arabian Sea. Meanwhile, in East Africa, CFR prices were relatively stable and declined by less than 0.5 percent in March 2023.

"Cement prices have continued to rise globally due to a multitude of macroeconomic factors including high inflation, rising energy, and logistics costs. These are expected to remain key challenges in light of resurgent Chinese demand and ongoing Russia-Ukraine conflict which has now entered its second year", noted Tago Sá, Business Analyst at CW Group.

 

Cement consumption drops in Morocco in February

In Morocco, cement consumption in the first two months of 2023 fell by around 8 percent compared to the same period in 2022, according to the latest figures published by the Professional Association of Cement Manufacturers. In February, total consumption decreased by almost 11 percent compared to the same month the previous year.

 

Saudi Arabia reports significant growth in cement exports

Cement exports continue to increase in Saudi Arabia. In February 2023, the country reported a yearly increase of over 46 percent, according to data from the Yamama Cement Company. Meanwhile, in Pakistan, cement exports increased by 11 percent year-on-year in February.

 

Shipping market outlook

The Baltic Dry Index surpassed 1,260 points on March 13, up by more than 600 points compared to the previous month.

Meanwhile, on February 24, 2023, one year after the conflict in Ukraine started, exports of dry bulk goods from the country decreased by almost 80 percent when compared to the same time in 2022. This situation has led to a decrease in global dry bulk goods volumes. The conflict has also had a considerable impact on global shipping, as the oil and natural gas trade disruption has been significant.

 

 


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.

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