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4.2 Inflation
Coal prices have risen more than 50% in a week due to the Russian invasion of Ukraine, Volkan Bozay, chair of the Turkcimento, an umbrella group for cement producers, said on March 2.
“Cement companies imported 5mn tonnes of coal last year and Russia was the main supplier. Each $10 increase in coal prices pushes the cost for cement production up by around $1.50,” he said, adding that in the past week, the rise in coal prices amounted to move than $100.
22 TURKEY Country Report March 2022 www.intellinews.com
