Global cement trade prices fell 1.9 percent year-on-year, according to preliminary figures presented in the 1Q2015 Global Cement Trade Price Report (GCTPR). The GCTPR is a benchmark price assessment for monthly worldwide gray cement, white cement, clinker, and slag trade, ex-works and effective market prices published by CW Research, the research desk of global industry advisory and analysis boutique based in Greenwich, CT USA.
Greenwich, CT, May 07, 2015 –(PR.com)– In the fourth quarter of 2014, the GCTPR global gray cement FOB price index fell by US$3.2 per ton, or 4.5 percent QoQ. While FOB prices traded flat in Asia in 4Q2014 (up 0.8 percent QoQ), price depreciation for gray cement was most noticeable in Scandinavia and the Baltics, where prices declined by US$5.0 to (-7.7 percent QoQ), Western Europe, with less international, ocean-bound trade averaged US$88.5 per ton (-7.4 percent YoY). However, bucking the trend, Mediterranean Basin FOB prices for gray cement rose 4.4 percent YoY to US$59.6 per ton.
On a monthly basis, gray cement exports volumes weakened towards the end of the year, dropping by 9.1 percent and 7.4 percent MoM in November and December 2014, respectively. In terms of pricing, global average FOB rates for gray cement fell by US$1.9 per ton (-2.8 percent) in December 2014 after trading flat in the previous month.
“Global gray cement FOB prices peaked at US$73.4 per ton in July 2014, but took a bit of a beating in the second half of the year, ending at US$67.5 per ton,” said Robert Madeira, CW Group’s Managing Director & Head of Research.
From a tonnage perspective, gray cement traded volumes for the GCTPR 20-country index of lead reporting countries was down to 9.3 million tons in 4Q2014 from 9.8 million tons in 3Q2014 (-4.3 percent QoQ). The GCTPR currently covers trade prices and volumes for 56 countries.
Notably, exported gray cement volumes in the Mediterranean Basin increased 4.4 percent YoY in 4Q2014 reaching 3.5 million tons. Scandinavia and the Baltics exported 0.7 million tons of gray cement during the quarter, up 18.8 percent YoY.
Slag, clinker and white FOB prices followed similar paths, falling 16.8 percent, 1.9 percent and 3.3 percent QoQ, respectively. Volumes of exported slag tumbled by 8.4 percent QoQ to 3.7 million tons in 4Q2014 (the countries in the reporting set for 4Q2014 represented 69 percent of global trade vs 3Q2014). Clinker exported volumes decreased by 1.9 percent QoQ to 6.0 million tons in 4Q2014 (volume traded by the reporting countries during the quarter accounted to 62 percent of global slag trade vs 3Q2014).
“To provide a complete view of cement prices, we include also in the GCTPR ex-works and what we call “market prices,” not only import and export price. As a highlight, we saw ex-works prices in the majority of countries we track struggling in the quarter. There were however some notable exceptions such as the US (+4.9 percent), China (+3.5 percent) and South Africa (+5.3 percent). In South Africa, the highest ex-works prices for the entire year were seen in 4Q2014,” said Prashant Singh, Associate Director at CW Research.
Notably, retail prices in the US and the UK markets have stabilized, aided by the rebound of the construction sector, while in Latin America price volatility has been more notable. Mexico, for instance saw prices increasing by 1.3 percent, and Colombia experienced a decrease of 2.4 percent.
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About the Report
The Global Cement Trade Price Report (GCTPR) is CW Research’s benchmark price assessment for monthly gray cement, white cement, clinker 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 about 60 individual markets worldwide, including multiple cornerstone data series: import, export, ex-works and market prices. Additionally, the GCTPR includes extensive discussion of key players’ price strategies as well as trade price forecast and select trade volumes for each country. The report also provides regional price indices as well as a quick review of trading dynamics and drivers in the different regions. More information about the report can be found here: http://research.cwgrp.com/syndicated-reports/forecast-a-chart-books/306102-global-cement-trade-price-report-.
About CW Group
The Greenwich, CT-headquartered CW Group is a leading advisory, research and business intelligence boutique aligned along three pillars: Advisory, Research and Media. CW Advisory supports senior management in addressing their most challenging strategic, financial and operational issues as well as providing M&A advice. CW Research provides value added industry reports, multi-client studies and business research services. The Media pillar is based on rigorous and up-to-date information and data management, providing market updates to our clients in a self-service format through our industry portals as well as industry meetings. The CW Group has a multi-industry orientation, with particularly recognized sector expertise in up-stream building materials (cement, lime), downstream building materials (aggregates, ready-mix, cementitious – fly ash, slag), power and energy, steel, minerals & mining, agriculture and commodities, paper & pulp, ports, logistics & transportation. www.cwgrp.com
CW Group / CemWeek