Cement News tagged under: China
China: three cement firms fined for price fixing23 October 2014, Published under Cement NewsJilin Yatai Group Cement Sales Co Ltd (Yatai), North Cement Co Ltd and (North) and Jidong Cement Jilin LLC (Jidong) were handed out fines for price fixing after China's National Development and Reform Commission (NDRC) instructed the Jilin Province Price Bureau to impose financial penalties totalling CNY114m (US$19m) following alleged breaches of the Anti-Monopoly Law (AML) by the companies involved. The NDRC found that in April 2011, the three cement producers met and agreed to coordinate ... |
China’s August cement production stable at 224Mt23 October 2014, Published under Cement NewsChina’s cement output remained largely stable in September 2014 at 224.15Mt when compared against August 2014, when the world’s largest cement maker produced 224.8Mt. YoY output slipped slightly from 225.06Mt. In the year to date, China’s cement production has reached 1809.41Mt. |
China: Anhui Conch boosts profits and Gansu Shangfeng Cement invests22 October 2014, Published under Cement NewsAnhui Conch Cement reports that its net profit attributable to equity shareholders for the first nine months of 2014 rose 51.8 per cent YoY to CNY8173m (US$1.3bn). The company’s basic and diluted earnings per share were CNY1.54. The revenue was CNY43,675m, an increase of 18.01 per cent from a year earlier. For the third quarter of 2014, Anhui Conch's net profit rose 1.2 per cent YoY to CNY2352m. Revenue grew 11 per cent to CNY14,890m. In other Chinese news, Gansu Shangfeng Cement ,signed a... |
Barclays raises target price for CRC, maintains rating14 October 2014, Published under Cement NewsBarclays Research raised its target price for China Resources Cement to HK$5.91 (US$0.76) from HK$5.79 and maintained its "equal weight" rating. Despite the strong cement price in southern China so far this year, the research house noted concerns over CRC's long-term growth as volume growth expansion is limited and the company does not have any material consolidation plans so far. Barclays said the fourth quarter usually shows the strongest seasonality for the cement industry. However, ... |
Asia Cement (China) expects 30% rise in nine-month profit13 October 2014, Published under Cement NewsAsia Cement (China) Holdings Corp said Friday its profit for the nine months ending in September is expected to increase 30 per cent YoY. The company said in a statement that the increase is mainly due to a rise in sales volume and price of the company's products when compared with the same period last year. Asia Cement recorded a profit of CNY390.8m (US$63.8m) in the first nine months of 2013. |
Two Conch subsidiaries hit September highs13 October 2014, Published under Cement NewsAnhui Conch Cement Co Ltd reported that output and sales of its major subsidiaries hit record highs in September. The company's Foshan subsidiary in south China's Guangdong province saw daily sales exceed 10,000t for five consecutive days in September, with average daily sales stablising at 8000t, according to a Xinhua-run cnstock.com report. Conch claimed that the subsidiary's September output, sales, clinker cement outturn all hit new highs in 2014, with output and clinker cemen... |
Taiwan Cement further hikes price in China30 September 2014, Published under Cement NewsTaiwan Cement announced a further rise in cement prices in China’s Guandong province due to the increasing demand in the domestic market. The price hike follows an earlier increase in August . The company hiked prices in the country’s key market by CNY20 (US$3.26)/t. High-grade cement now costs CNY340/t, up from CNY320/t. Taiwan Cement said demand in the Pearl River Delta area expanded considerably in late September as inventories fell due to construction projects ahead of the 1 Octo... |
China’s watchdog fines three producers for price fixing10 September 2014, Published under Cement NewsChina’s price regulator has fined three domestic cement makers CNY114m (US$18.58m) for price fixing, the National Development and Reform Commission (NDRC) said in a statement on its website. Among the firms were units of Jilin Yatai Group Co Ltd , China National Building Material Co Ltd and Tangshan Jidong Cement Co Ltd. |
Taiheiyo dissolves Xinjiang joint venture09 September 2014, Published under Cement NewsTaiheiyo Cement has ended a Chinese joint venture with a Xinjiang-based company in response to government efforts to cut excess capacity in the cement sector. Following calls by Beijing to curb investment in the cement industry to ease oversupply concerns and given the business environment in the regional industry, Taiheiyo and Xinjiang Tianye decided to break off the agreement, according to a Nikkei Report. The joint venture agreement had initially been signed at the end of 2012 bet... |
WCC raises US$400m in bond offering, China05 September 2014, Published under Cement NewsWest China Cement (WCC) has raised US$400m in a five-year bond deal with proceeds intended to refinance the same amount of debt. With an order book of US$4bn from 260 institutional accounts, the latest bond deal offered investors a coupon rate of 6.5 per cent, compared with 7.5 per cent on the previous five-year bond that matures in 2016, according to a term sheet seen by the South China Morning Post. At the subscription level the deal was well received by fund investors, who represente... |