India: The ongoing conflict in the Middle East is expected to increase cement production costs in India as rising imported fuel prices impact the sector, according to The Financial Express. Prices of imported petcoke and coal have already increased by 11% and 7% respectively since the start of the conflict, with further volatility expected. India relies heavily on imported petcoke, with around 50% coming from the US and about 30% from West Asian countries.
Producers are expected to increase the use of domestic fuels to offset higher import costs. Refiners are also increasingly focusing on gas production, which could limit the availability of refinery byproducts such as petcoke – cement companies are reportedly in conversation with refineries to tackle the issue.
