Pakistan Cement: Dispatches report a 16% YoY decline in FY23 – By JS Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Cement dispatches for Jun-23 clocked in at 4.1mn tons showing a 23% YoY decline, taking cumulative dispatches for FY23 to 44.6mn tons, a 16% YoY decline. Dispatches were down during the year due to dull construction activities owing to uncertain economic and political situation, rapidly rising construction costs and high financing costs.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Going forward, lower volumes are expected to be offset by declining costs. Richard Bay coal prices have dropped ~54% since Dec-2022, owing to subdued demand and better supply globally. With ease-off in LC establishment conditions of late, sector margins may improve resulting from purchase of lower priced Internation...