JPMorgan tips dim outlook for Taiwan producers
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.
Published under Cement News
