Persistent Supply Constraints Likely to Support Germany Fly Ash Prices in June

Fly ash prices in Germany recorded a *.*** increase on an FOB Hamburg basis through May ****, lifting values to approximately USD **.**/MT from USD **.**/MT. The advance reflects an accelerating structural shift in domestic energy generation that is progressively eroding fly ash availability, coinciding with sustained cost-side pressures from the ongoing Iran-Israel-US geopolitical conflict.

Supply conditions in Germany have tightened materially as the country&#**;s accelerating transition toward renewable energy generation reduces the operational footprint of coal-fired power plants — the sole source of fly ash as a combustion by-product. The continued decline in thermal coal imports across EU** markets, projected to fall between ** and ** percent during ****, has significantly reduced domestic fly ash generation, tightening availability and supporting prices despite only a modest recovery in cement demand. With each plant decommissioning or capacity reduction, recoverable ash volumes contract on a permanent...