HK Chia Hsin raises cement prices 5%-10%, Hong Kong

HK Chia Hsin raises cement prices 5%-10%, Hong Kong
Published: 09 August 2004

Chia Hsin Cement Greater China Holding Corp raised its cement prices 5% to 10% at the end of July, as China’s macroeconomic controls reined in supply.

The company said in a statement the price increases were made in Jiangsu, Zhejiang and Shanghai where demand continued to grow.

’Despite a 30% increase in production capacity from its expansion of cement grinding mill, the company still experienced excessive demand for its cement products,’ Chia Hsia Cement said in a statement.

China has taken various steps to cool its overheating economy, many of which are aimed at curbing excessive fixed asset investment in ’hot’ sectors such as construction.