China property curbs hurts demand

China property curbs hurts demand
20 December 2011

Chinese cement stocks are lower on falling cement prices as property tightening measures weigh on sales volume and prices of homes in China, reports Dow Jones.

Anhui Conch Cement Co is down 1.5% at CNY14.95, and Tangshan Jidong Cement Co is down 1.1% at CNY15.63.

 "The property tightening measures suppressed demand for related construction materials, which will have a material impact on local cement companies’ profitability," says Luo Guo, an analyst from Orient Securities in a research note.

Luo adds that the cement and glass sectors will start to pick up in the second half of 2012, as 2013 is the first year in which a new batch of leaders will govern China and capital investment is expected to increase.
Published under Cement News