Global Cement News

India: Orient Cement recorded sales of US$89.2m in the third quarter of its 2023 financial year, up by 18% year-on-year from US$75.3m in the third quarter of its 2022 financial year. The producer's profit was US$3.36m, down by 37% year-on-year from US$5.32m.

Costa Rica: Cementos Progreso has launched its brand in Costa Rica, marking its entry into a seventh Central/South American market.

Chief executive officer José Raúl González said “Our company believes in the region, understands its potential and is committed to adding value to all Central Americans. The launch of our flagship brand in the Costa Rican market is key to our growth and investment plans, which seek to generate development and employment in the local and regional cement industry."

India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.

India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.

China: Jiangxi Wannianqing Cement has become the latest China-based cement producer to report a fall in its profit year-on-year for 2022. It recorded a net profit in the range of US$149 - 168m, down by 63 - 71% year-on-year from US$236m in 2021.

Pakistan: Lucky Cement recorded sales of US$876m in the first half of its 2023 financial year, up by 42% year-on-year from US$616m in the first half of the 2022 financial year. It sold 3.57Mt of cement and clinker, down by 24% year-on-year from 4.7Mt. The producer's costs rose by 50% to US$585m from US$391m. It recorded a profit of US$73.1m, up by 6.8% from US$68.4m.

During the half-year period, total national cement sales dropped by 17% year-on-year to 20Mt, while Pakistan's cement exports fell by 49% to 1.7Mt. The aftermath of flooding, high interest rates, inflation and cost of goods and cuts to government spending all impacted the domestic cement market, while 'global recessionary trends' cut into exports, according to Lucky Cement.

Lucky Cement holds a 15% share in the Pakistan market and a 34% share in the export market.