S&P Global Commodity Insights Launches Weekly Platts Cement Price Assessments for Turkey and Associated Freight to Europe and North America
S&P Global Commodity Insights Launches Weekly Platts Cement Price Assessments for Turkey and Associated Freight to Europe and North America |
| [23-January-2025] |
First in Market Assessments Meet Growing Information Needs of Global Construction Industry NEW YORK and LONDON, Jan. 23, 2025 /PRNewswire/ -- Platts, part of S&P Global Commodity Insights, the leading independent provider of information, data, analysis, benchmark prices and workflow solutions for the metals, commodities, energy and energy transition markets, today announced the launch of a pioneering suite of cement and cement clinker price assessments, marking a first in the market.
Cement, the key ingredient in concrete — the world's second most consumed product — serves as the foundation of the global construction industry. Clinker is an essential component in cement production particularly in the manufacturing of Portland cement. With an estimated market value of $400 billion, cement transactions have traditionally involved a limited number of producers and end users. The push for decarbonization is driving a heightened demand for price transparency, as cement accounts for approximately 8% of total global emissions, according to the World Economic Forum. New regulations such as the EU's Carbon Border Adjustment Mechanism set to take effect in 2026, are increasing pressure on cement producers to meet environmental sustainability standards. Robert Beaman, Global Director of Fertilizers and Minerals at S&P Global Commodity Insights, commented: "We are thrilled to announce the launch of our inaugural cement price assessments for Turkey and associated cement freight to Europe and North America, a groundbreaking initiative that underscores the significant size and importance of the global cement market. As the industry faces increasing scrutiny over carbon emissions, these assessments provide essential transparency and high-quality information to market participants. This launch marks the first-ever set of cement assessments by a Price Reporting Agency, reinforcing Platts' commitment to supporting the cement sector as it adapts to evolving regulatory and reporting requirements." Turkey is a leading player in the global cement and clinker trade. The country is bolstered by outstanding logistics capabilities, strict adherence to quality standards and well-established relationships with major importers. Turkey's strategic geographical location further enhances its role as a key cement supplier in the region, which is anticipated to expand as neighboring countries embark on rebuilding efforts following recent conflicts in the Eastern Mediterranean region. The introduction of these cement and clinker assessments further promotes transparency across the broader minerals value chain, meeting information needs of participants. Cement and clinker are vital in the construction industry, complementing S&P's coverage of metals and chemicals, including the use of steel rebar and copper pipes, as well as nylons for windows, paints, lacquers, and polyurethane for insulation. The new suite of S&P Global Commodity Insights cement and clinker price assessments incorporates market data to reflect the value of cement, clinker, and associated freight in the spot market, taking into account bids, offers, trades, and other indicators — providing insights into pricing at key cement hubs. Click on the links to access the subscriber note, and FAQ. S&P Global Commodity Insights also offers a comprehensive suite of fertilizer and minerals assessments, including benchmarks in ammonia, urea, sulfur, and phosphate markets. For further details on S&P Global Commodity Insights' fertilizer offerings, visit: Fertilizers | S&P Global. Media Contacts: Americas: Kathleen Tanzy + 1 917-331-4607, kathleen.tanzy@spglobal.com EMEA: Paul Sandell + 44 (0)7816 180039, paul.sandell@spglobal.com Asia: Melissa Tan + 65-6597-6241, melissa.tan@spglobal.com About S&P Global Commodity Insights At S&P Global Commodity Insights, our complete view of global energy and commodity markets enables our customers to make decisions with conviction and create long-term, sustainable value. We're a trusted connector that brings together thought leaders, market participants, governments, and regulators and we create solutions that lead to progress. Vital to navigating commodity markets, our coverage includes oil and gas, power, chemicals, metals, agriculture, shipping and energy transition. Platts® products and services, including leading benchmark price assessments in the physical commodity markets, are offered through S&P Global Commodity Insights. S&P Global Commodity Insights maintains clear structural and operational separation between its price assessment activities and the other activities carried out by S&P Global Commodity Insights and the other business divisions of S&P Global. S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodity-insights/en.
SOURCE S&P Global Commodity Insights | ||
Company Codes: NYSE:SPGI |
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