Global gray cement prices fell -11% year-on-year, according to CW Research, the US-based market researcher.

The figures were released in its Global Cement Trade Price Report (GCTPR), assessing the monthly worldwide trade of gray cement, white cement, clinker, and slag, as well as ex-works and effective market prices.

The global trade of cementitious products has generally seen a declining trend in both volumes and prices in the third quarter of 2015. CW Research’s GCTPR shows trade prices mostly influenced by developments in foreign exchange rates as many currencies have depreciated sharply against the US dollar. Moreover, due to the slow progress of the global economy, worldwide cement demand is projected to decline by about -2.7% in 2015.

Notably, the quantity of traded gray cement fell by -0.5% in the second quarter of the year, compared to the same period last year. Exports of gray cement fell marginally in volume terms, while the global outlook for export pricing remained mixed, highly-dependent on foreign exchange rate developments. The major gray cement exporters in the second quarter of 2015 were China and Thailand, which accounted for 15% and 14% of total global gray cement exports.

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