Cement News tagged under: China

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Anhui Conch Cement sees strong September sales and output growth, China

17 October 2012, Published under Cement News

The start of peak seasonal demand in China has boosted Anhui Conch's September sales and output as average prices register weekly gains. A China Securities Journal report said on Wednesday, which cited a number of brokers, said that subsidiaries of the cement giant have been running at full capacity, and some of their output in September has hit new high. In addition, some subsidiaries have exceeded the target output and sales tasks for September and the third quarter of this year. Its Hu...

Sichuan Shuangma Cement expects net loss in 9M12, China

16 October 2012, Published under Cement News

Sichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said that it will post a net loss of CNY5m to CNY10m (US$0.8m-1.6m) in the first three quarters of 2012, compared with a net profit of CNY 123m in the same period of 2011.

S&P rates China Tianrui senior unsecured notes 'B'

08 October 2012, Published under Cement News

Standard & Poor's Ratings Services today assigned its 'B' issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notesby China Tianrui Group Cement Co. Ltd. (B+/Stable/; cnBB/). The agency also assigned its 'cnBB-' Greater China regional scale rating to the proposednotes. The proposed issue is rated one notch lower than the corporate credit rating on Tianrui because of priority liabilities at its operating company in China. S&P said the proposed issuance does n...

Chinese prices climbs for third time in September

28 September 2012, Published under Cement News

Cement price in the south China has just climbed for the third time in September, according to local press reports. Traditionally, the fourth quarter is the peak season for south China cement industry with quarterly demand accounting for more than one third of full-year demand. It has been reported that the clinker inventories of leading cement firms in south China like Anhui Conch, and TCC Int’l Holding have already dropped below 55 per cent.

Jiangxi Wannianqing cement approved to issue corporate bonds

28 September 2012, Published under Cement News

Jiangxi Wannianqing Cement Co Ltd, a manufacturer and distributor of Portland cement and cement clinker, said on September 27th that it won approval from China Securities Regulatory Commission to issue up to CNY1bn (US$159m) worth of corporate bonds. (Source: China Business Newswire)

China Resources Cement to issue US$400m credit enhanced senior bonds

28 September 2012, Published under Cement News

China Resources Cement said it has priced the US$400m 2.125 per cent credit enhanced senior bonds due 2017 following a book-building exercise conducted by DBS as sole global coordinator and bookrunner. The bonds will be issued at an issue price of 99.75 per cent and will bear an interest rate of 2.125 per cent per annum payable semi-annually in arrears. CR Cement currently intends to use the net proceeds of about US$389m for refinancing and general corporate purposes. In connection with t...

UBS: China cement sector to outperform next six months

26 September 2012, Published under Cement News

UBS believes China cement demand has bottomed and cement inventories are falling. Moreover, cement prices have picked up with the national average price rising for the past four weeks after declining for 21 weeks. "We believe there will be more upside in 4Q12 based on an overlap of seasonal strengthen and a recovery in infrastructure spending," says to research house in a report by Dow Jones Global Equities News. Aggressive new capacity additions in the past five years have put pressure o...

Taiwan Cement and Asia Cement to upgrade environmental equipment in China

26 September 2012, Published under Cement News

Anticipating stricter environmental regulations for cement producers in China, Taiwan Cement Co plans to invest TWD700m (US$23.8m) to upgrade its NOx and SOx abatement equipment, while Asia Cement is considering the same step.  Taiwan Cement International Holdings Ltd. has started installing new equipment in its Chongqing plant, aiming to decrease NOx emissions by 60 per cent, with the same works ongoing at the plants in Guizhou and other areas. According to an industry insider says th...

Gansu Qilianshan to build joint venture in Tibet, China

21 September 2012, Published under Cement News

Gansu Qilianshan Cement Group Co., Ltd. September 18 announced that the company plans to join forces with a partner to set up a cement 1.2Mta dry-process cement line in Tibet. The company will invest CNY168m, taking 60 per cent interest.

China Resources to meet with investors ahead of planned bond issue

21 September 2012, Published under Cement News

China Resources Cement Holdings Ltd (CRC) is to meet fixed-income investors in Asia and Europe from Monday-Wednesday next week, ahead of a planned five-year dollar bond offering, according to reports by Dow Jones Newswires Friday. CRC will hold meetings in Hong Kong Monday, Singapore Tuesday and London Wednesday, a source disclosed to Dow Jones. The bonds will be supported by a standby letter of credit from DBS Bank, the sole global coordinator, the person added. CRC, a unit of state-owne...