Cement News tagged under: China

RSS feed

China: consolidation on production capacity by 2020

10 October 2016, Published under Cement News

The China Cement Association (CCA) has advised that the merger of leading cement companies will likely concentrate the industry’s capacity, informing that government that by year end 2020 more than 60 per cent of production capacity would be controlled by the top 10 companies. President of the CCA, Qiao Longde, said, “there are too many cement enterprises, which makes it very hard to utilise resources effectively." The industry is experiencing low efficiency and fragmentation as most plan...

China: Anhui Conch most shorted stock amid economic concerns

07 October 2016, Published under Cement News

Shares in Anhui Conch have become the most shorted on the Hong Kong stock exchange as doubts grow over the sustainability of China’s property boom, Bloomberg reports. Disagreements over the future path of the Chinese property sector have led to Anhui’s shares being shorted at a level five times higher than was the case earlier in the year. While some investors are betting that a cooling property market will bring down the cement firm’s share price, other analysts think the company’s prosp...

China: Shanshui Cement to raise HK$456m from placing

07 October 2016, Published under Cement News

Shanshui Cement announced that it has entered into a placement agreement, proposing the placing of 910-950m new shares at a price not less than HK$0.5/share. This placing price represents a 92.1 per cent discount when compared to its closing price of HK$6.29 (US$0.81). The placing shares represent 21.2-21.9 per cent of the enlarged issued share capital of the group. Estimated net proceeds stand at HK$436.85-456.25m (US$56.3-58.8m), which will be applied to settle the group’s outstanding d...

China Cement Association urges consolidation

28 September 2016, Published under Cement News

The China Cement Association has petitioned policymakers to speed up consolidation in the cement sector, which currently has 3500 producers. The consolidation aims to concentrate at least 60 per cent of national capacity into 10 top producers by 2020. According to proposals by the association, the process is likely to involve many mergers and plant closures, reports the South China Post. To achieve a basic balance between demand and supply, the sector will need to reduce production capaci...

China: cement prices to remain strong in 2H16

27 September 2016, Published under Cement News

Chinese cement prices are predicted to rebound strongly in the remaining three months of the year, say analysts, thanks to rising domestic home prices, which have also boosted the share prices of cement manufacturers listed in the mainland and in Hong Kong. Total revenue of the 17 cement makers listed in the A-share market grew 4.8 per cent in 2Q16, while net profit hit CNY4.81bn (US$721m) reports South China Morning Post. Growing numbers of mortgage applications have pushed up the avera...

Sinoma sells Midong Tianshan and Fukang Tianshan stakes

23 September 2016, Published under Cement News

China National Materials Company (Sinoma) said its subsidiary Xinjiang Tianshan Cement recently carried out an equity transfer framework agreement. A 64.56 per cent stake in Xinjiang Midong Tianshan Cement and the entire equity interest in Xinjiang Fukang Tianshan Cement, both held by Tianshan Cement, as well as the 19.39 per cent stake in Midong Tianshan held by Xinjiang Tunhe Cement are to be under consideration for acquisition with Zhongtai Chemical. Sinoma added the equity transfer ...

China Resources Cement appoints Ji Youhong as new CEO

22 September 2016, Published under Cement News

Ji Youhong has been appointed as new CEO, executive director and executive committee member of China Resources Cement following the resignation from these positions of Pan Yonghong to pursue other work within China Resources Group. Ji Youhong joined the Group in October 2003 and has served in various managerial positions of China Resources Cement.

At the edge of the desert

15 September 2016, Published under Cement News

Exposed to the Sahara desert climate, a new cement plant has been taking shape some 40km north of Biskra, Algeria. In the hot arid summer with temperatures reaching 49.4˚C and an annual rainfall of less than 100mm, the construction of the Algeria Spa CILAS cement works presented its own challenges, but a flexible approach by main contractor CBMI contributed to the successful completion of the project. By Jinjun Gu and Yingying Zhang, CBMI Construction Co Ltd, China. The new cement wor...

Fiji: clinker shipment from China

15 September 2016, Published under Cement News

A cargo vessel has docked at the Kings Wharf, Suva, bringing in clinker for Tengy Cement from China. The vessel is expected to remain in the port for 7-8 days. According to Vafo-ou Villiame of Carpenters Shipping, “the vessel will be unloading cement clinker for the new cement factory", as reported local news source, The Fiji Sun. Mr Villiame also stated that the ship had not made calls at any other Pacific country. Once unloaded the ship will return directly to China.

Chinese imports into Kenya show 10-fold rise

12 September 2016, Published under Cement News

New figures from the Kenyan National Bureau of Statistics reveal that the country imported KES2.2bn (US$21.7m) of cement from China in the first six months of 2016, up more than ten-fold on last year. A report by Business Daily Africa notes that these latest data look set to increase tension between Kenyan producers and Chinese contractors working on some of the country’s biggest infrastructure projects. The Chinese building firms have repeatedly denied claims that they import cement a...