Taiwan Cement Corp increase shipment prices

Taiwan Cement Corp are to raise product prices for shipments to Guangdong and Guangxi provinces by CNY20 (US$3)/t to CNY360, as reported by Taipei Times. The increase in price will be effective from Saturday. The price change is demonstrative of the strong demand in Southern China and subsequent shortage of cement.

Beijing’s stricter environmental regulations have also led to some cement producers halting production, negatively impacting the quantity of cement available. Taiwan Cement could raise prices again if the high levels of demand continue.

The company posted a net profit of TWD1.97bn (US$65.6m) in the third quarter of 2017, a 15 per cent decrease YoY. However, Credit Suisse Group AG expect earnings growth in the current quarter due to the high seasonal demand.