South Korea's cement producers plan 18% price rise

Major cement manufacturers in South Korea will be implementing a further rise in wholesale prices as the construction industry in the Asian country gathers pace, according to Maeil Business Newspaper. This follows a 5.1 per cent price rise from KRW75,000 (US$62.63)/t in July 2021, the second rise in a year following a price freeze since 2014.

Ssangyong C&E has decided to lift the price of its first-class bulk cement to KRW93,000/t from February, representing an 18 per cent hike when compared with its current price of KRW78,800/t.

Halla Cement intends to gradually raise its cement price by 18 per cent between 25 January and 1 February with other companies such as Hanil Cement, Sampyo Cement and Sungshin Cement expected to follow suit.