JPMorgan tips dim outlook for Taiwan producers

JPMorgan tips dim outlook for Taiwan producers
Published: 04 November 2010

Taiwan’s cement makers to remain pressured by slow domestic demand growth and competition from China’s cheap exports, says JPMorgan. "The cement sector has underperformed the market by 6% year-to-date and we see limited catalysts for a sector turnaround in 2011." The analysts tip Taiwan’s cement demand to be up  +6% in 2011 vs +13% this year, export prices likely around breakeven or at loss next year as China exports keep global prices low.