Asia Cement plans to raise output in 2H10
Asia Cement (China) Holdings, a mainland subsidiary of Taiwan-based Asia Cement Corp, plans to raise its cement output to 11.5Mt in the second half of this year, 44% more than in the first half, said Chief Executive Chang Tsai-hsiung, sources reported.
The cement maker may see the average selling price of the material rising RMB20-30/t in the fourth quarter of this year because the government’s restriction on power-use caused the short supply of cement in eastern China, according to the report.
Average selling price of cement increased about RMB10 to RMB 275/t in September from RMB 26/t in August. In the first six months of this year, the company sold a total of 8 million metric tons of cement at about RMB 250/t. In the first half, the company’s net profit plunged 56.71% to RMB140m from RMB324m in the same period of last year due to low cement price.
Published under Cement News
