Cement News tagged under: China

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China will impose new environmental tax from 1 January 2018

04 October 2017, Published under Cement News

Businesses in China are being urged to prepare themselves for a new environmental tax for the start of next year. China will abandon its current system under which polluters are charged locally in favour of the nationwide environmental protection levy to reduce air, soil and water contamination, reports South China Morning Post. The new regime will see firms that cause pollution taxed under a uniform set of national rules rather than the fees being collected at the local level. For instance...

Anhui Conch

25 September 2017, Published under Cement News

Anhui Conch saw its shares rise by five per cent earlier this month on the back of analyst predictions of a rise in cement prices. Limited supplies and an uptick in construction activity is expected to drive up all building material prices, including cement, in the closing quarter of this year. According to some analysts, cement prices in China the 4Q17 could surpass the high seen in the second quarter of this year. China’s average cement price rose by 0.3 per cent in the opening half of ...

CNBM & Sinoma merger could complete by year-end

12 September 2017, Published under Cement News

China National Building Material Group Co (CNBM) said that it will complete merging with China National Materials Group Corp (Sinoma) by December or early next year. The announcement came after nine subsidiaries of the two groups suspended trading last week. Various media outlets, quoting business insiders, indicated they were accelerating the merger. The merger was first unveiled in August last year after the State Council, or China’s Cabinet, approved the deal. The exchange ratio has ...

S&PGR upgrades Anhui Conch Cement

06 September 2017, Published under Cement News

S&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable.   "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to investment and expansion," the rating's agency said.   In its base case, S&PGR expect Conch Cement's ...

China Tianrui attributable profit surges

29 August 2017, Published under Cement News

China Tianrui Group Cement Co said its profit attributable to owners for the six months ended 30 June 2017 surged 175 per cent YoY to CNY489m (US$74m). Revenue amounted to CNY3785m, an increase of 22.3 per cent from a year earlier. Gross profit grew 51.3 per cent YoY to CNY1174m. Gross profit margin increased to about 31 per cent in the first half of 2017 from 25.1 per cent in the same period of 2016. The increase in gross profit margin was primarily due to the significant increase in the...

Anhui Conch Cement Co revenue up 33.1%

22 August 2017, Published under Cement News

Anhui Conch Cement Co Ltd said revenue for the first six months ended 30 June 2017 increased by approximately 33.1 per cent YoY to CNY31,907.92m (US$4794m). Profit attributable to equity shareholders amounted to CNY6.7bn, representing an increase of approximately 100.64 per cent over the corresponding period of last year. The company attributed the boost to a ‘significant’ increase in prices and continued discipline with production and operation costs. During the period the group real...

West China Cement sees improved operating environment

17 August 2017, Published under Cement News

West China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017 has reached 29.2Mt of cement. The group said it has maintained a strong market position in its s...

Cement imports surge in Costa Rica

16 August 2017, Published under Cement News

The import of cement into Costa Rica has skyrocketed in the past two years, according to El Financiero Costa Rica. In 2014 the Latin American country imported 10,418t of cement but in 2016 this figure had increased more than tenfold to 107,294t. The steep rise has been particularly noted since 2015, when the Ministry of Economy, Industry and Commerce (MEIC) changed the regulations regarding hydraulic cements, changing storage conditions and the flexibility of the marketing period. ...

Shanshui Cement expects first-half loss to narrow

09 August 2017, Published under Cement News

China-based Shanshui Cement expects that the group will continue to record a net loss for the six months ended 30 June 2017. However, the loss is expected to narrow compared with the corresponding period of 2016 mainly due to the increase in average selling prices. In addition, the Jinan government is assisting the company to restructure the board of directors and senior management of Shandong Shanshui and to resolve the illegal occupation of the properties of Shandong Shanshui by its form...

China Resources Cement sees substantial rise in 1H attributable profit

07 August 2017, Published under Cement News

China Resources Cement said its profit attributable to owners for the six months ended 30 June 2017 surged to HKD1639.8m, translating into an increase of over 500 per cent from the comparative period of the previous year. JPMorgan, in its report, considered that the substantial rise was mainly attributed to higher product prices and exchange gain. Turnover amounted to HKD13,188.4m, an increase of 16.6 per cent from a year earlier. Gross profit grew 44.4 per cent YoY to HK$3895.6m. ...