Global Cement News

Russia: Soyuzcement has warned the government that the cost of cement could rise by up to 30% year-on-year in 2024 due to mounting energy, logistics and staffing costs. The national cement manufacturing union has informed various departments and agencies - including the Ministry of Economy, the Ministry of Industry and Trade, the Ministry of Construction and the Federal Antimonopoly Service (FAS) - that this price rise will follow a 23 - 30% production cost inflation reported in 2023, according to the Kommersant newspaper. Other contributing factors have included negative currency exchange effects leading to a 20% rise in the cost of certain imported equipment items as well as logistic issues stemming from a shortage of drivers and declining fleet levels. Separate analysis by Kommersant estimates that the rising cost of cement in 2023 led to a 10 - 15% increase in the overall cost of construction in 2023.

US: Martin Marietta Materials recorded sales worth US$5.17bn during the first nine months of 2023, up by 10% year-on-year from US$4.68. Meanwhile, the company’s earnings rose by 30% to US$1.23bn from US$944m. Building materials revenues in its West business rose by 10% to US$2.85bn, while those in its East business rose by 11% to US$2.08bn. Overall, the value of its cement sales rose by 21% to US$565m.

Bolivia: Empresa Publica Productiva Cementos de Bolivia (ECEBOL) commissioned its new 1.3Mt/yr Potosí cement plant at Chiutara on 11 November 2023. Local press has reported that the producer overcame previous issues regarding gas and water supplies.

India: Grasim Industries recorded sales of US$3.63bn during the three-month period up to 30 September 2023. This represents a 10% year-on-year rise from the corresponding quarter of the previous financial year. Its profit rose by 15% year-on-year, but fell by 26% quarter-on-quarter to US$140m.

Brazil: Votorantim Cimentos reported US$1.51bn in sales during the third quarter of 2023. This represents a decline of 3% year-on-year. It raised its total volume of cement sales by 1% year-on-year to 10.3Mt. Meanwhile, the group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 9% to US$1.9bn.

CEO Osvaldo Ayres said “The positive results in both the third quarter and the first nine months of 2023 reinforce our operational leverage and our performance within our strategic mandate, with discipline and resilience. Despite the uncertain global macroeconomic scenario and market challenges, our geographic and product diversification improves the company, to face challenges and be ready to capture good opportunities.”