Cement News tagged under: China

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Gansu Qilianshan to invest US$24m in Tibet cement JV

12 December 2017, Published under Cement News

Gansu Qilianshan Cement Group Co Ltd plans to invest CNY159.25m (US$24.08m) to set up a cement joint venture in Tibet with a registered capital of CNY450m. The new investment will be named Lhasa Cast Qilian Cement Co Ltd.

Call to investigate recent local price hikes in China

07 December 2017, Published under Cement News

Some Chinese cement producers and suppliers were taking advantage of Beijing’s environmental crackdown to artificially hike prices, according to the Wuhan Concrete (Mortar) Association. This has led to the suspension of some construction projects. "Particularly upstream cement producers and suppliers have taken the opportunity to exaggerate the impact from the environmental crackdown and output cuts to raise prices in a disorderly way multiple times in November and make supplies artificia...

Taiwan Cement Corp increase shipment prices

04 December 2017, Published under Cement News

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 coul...

Fujian Cement to buy limestone mining rights

04 December 2017, Published under Cement News

China-based Fujian Cement plans to buy mining rights of a 0.2Mta limestone mine and a 0.03Mta cement siliceous material ore mine from Shunchang Lugunshan Limestone Mine and Shunchang Wuli Ting, respectively. The transaction amount is CNY52.9m (US$8m) with an actual payment of CNY32.8m, according to Reuters. The limestone mine is understood to cover an area of 0.3605km2 with rights valid until 2032. The deposit holds 3.645Mt of reserves. The other mine, with reserves of 0.692Mt covers an ar...

Anhui Conch to resume Indonesian project with US$240m credit

27 November 2017, Published under Cement News

Anhui Conch Cement has issued guarantees for loans likely to include US$90m facility provided by the company’s Indonesian branch, according to Anhui Conch investor relations. This is in addition to the 10-year US$151.5m loan applied for by its subsidiary Pabrik Semen China Conch from the Export-Import Bank of China (EIBC) in support of the planned resumption of the development of Pabrik Semen China Conch in Inobonto, North Sulawesi. The project, which the Chinese cement producer initiated...

Anhui Conch to import drilling rig for 4500tpd plant

16 November 2017, Published under Cement News

Anhui Conch Cement Co expects delivery of an imported hydraulic drilling rig for its cement production project in Shaanxi province by February 2018. The US$1.7m rig will be installed at the limestone mine at the company’s US$61m cement facility in Tongchuan, Shaanxi province. The plant’s production capacity is around 4500tpd and construction is expected to begin in the 1H18. The rig is expected to meet Euro III standards and have a minimum aperture of 140mm.

China National Building Materials (CNBM)

01 November 2017, Published under Cement News

China National Building Materials Group (CNBM) is in talks to integrate some of its 15 subsidiaries. The move follows the announcement in September this year of the merger between CNBM and China National Materials Group, another state-owned building materials player, also known as Sinoma. Of the 15 subsidiaries in question, three are listed overseas. T he aim of the merger is to consolidate and strengthen the core business of each subsidiary, boosting profitability and maximising their va...

Anhui Conch

01 November 2017, Published under Cement News

Anhui Conch Cement has seen its net profit advance by 64.3 per cent to CNY9.81bn (US$1.48bn) in the period 1 July 2017 to 30 September 2017. This compares to CNY5.97bn in the same period last year. Net revenue over the same period came in at CNY50.04bn, an increase of 31.9 per cent on the CNY37.95bn reported in July-September 2016. The improved revenue is being attributed to an increase in both sales volumes and price. However, the three-month period also saw the company’s cost of sale...

HK Stock Exchange may propose delisting China Shanshui Cement

27 October 2017, Published under Cement News

China Shanshui Cement Group Ltd said the Hong Kong stock exchange would seek to delist the firm if it was not able to restore a minimum public float of 25 per cent of its issued share capital by the middle of next year. The cement producer has been embroiled in a bitter boardroom battle involving investors and executives, and has been suspended from trading in the past two-and-a-half years, according to Reuters. The stock exchange had warned the company that it would have until 30 ...

China Resources Cement 9M profit up 216%

23 October 2017, Published under Cement News

China Resources Cement reported a 215.9 per cent rise in profit attributable to owners for the 9M17 to HKD2648.6m (US$ 339.4m) . Turnover increased 16.4 per cent to HKD20,344.9m in the first nine months. The consolidated gross profit saw a 36 per cent YoY advance to HKD6023.6m. The consolidated gross margin was 29.6 per cent, representing a rise of 4.3 percentage points over 25.3 per cent reported in 9M16. The increases in consolidated gross profit and gross margin were mainly attri...