Cement off-take in February 2013 grew 2% year-on-year (YoY).
KARACHI:
Cement off-take in February 2013 grew 2% year-on-year (YoY), exhibiting initial signs of seasonal pick-up, while total sales remained flat month-on-month (MoM) at 2.55 million tons, translating into cumulative sales of 21 million tons so far this year, up 3%, Foundation Securities Research reported on Friday.
Exports sales rebounded strongly in February with a MoM jump of 29%. It is expected that the months ahead will be fruitful for cement players, driven by seasonal growth in volumes and further price-led improvement in margins, it said.
“Eyeing potential uptick in demand from March onwards, we expect local sales to settle at 25 million tons, up 4.4% YoY,” it said. “However, we anticipate export sales to witness a nominal decline of 2% YoY due to a slowdown in global demand, coupled with commissioning of new capacities in the region.”
Published in The Express Tribune, March 2nd, 2013.
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