On a monthly basis, cement and clinker FOB and CFR prices continue to drop, according to the CW Research’s February update to Persian Gulf – Arabian Sea and East Africa Cement and Clinker price assessment. “By this point, after many months when prices have not shown any encouraging signs, traders seem resigned to the situation, and are now turning their attention more pointedly towards new markets and export opportunities. This is easily noticeable for Med Basin traders, while for Middle Eastern traders, the continuing depreciation of cement and clinker prices is more sustainable”, explains Raluca Cercel, Consulting Analyst with the CW Group’s European team.
In February 2016, Persian Gulf-Arabian Sea cement and clinker FOB and prices fell slightly, compared to the previous month. CFR prices for bulk cement continue the declining trend, by falling almost 5 percent. The slowdown in cement and clinker trade negatively affected ship owners. The contraction, caused by the reduced demand for cement, clinker and other commodities, is not expected to recover over the mid-term period. The monthly report also includes the latest insights on trade in Pakistan, Iran, as well as in Iraq. CW Research’s leading role in the global cement and clinker sector forms the underpinning for the monthly price assessment. Price points are based on the analyst team’s on-going discussions with cement traders, producers, exporters and other stakeholders in the business and reflect a synthesis of actual traded cargos.
Find out more about the highlights of the report here