Cement News tagged under: China

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Brighter outlook for global markets?

11 June 2012, Published under Cement News

A recent report by Morgan Stanley sees the global supply-demand balance turning positive, leading to improved pricing power which it expects will return globally next year. The research house also sees important changes in the make-up of global volume growth as China's cement demand expansion is seen slowing. However, clear threats still exist in the form of uncertainties in Europe and in the possibility that US economic recovery could be stumbling. ?? The Morgan Stanley report highlights ...

Anhui Conch issues profit warning, China

08 June 2012, Published under Cement News

Anhui Conch warned on Thursday that it expects net profit for the six months ending June to decrease "considerably" YoY because of weaker demand for cement. The company estimated the net-profit fall for the first half to be "more than 50%." The company said demand growth for cement has been declining since the beginning of 2012 and selling prices for cement products have dropped significantly from a year earlier owing to slower growth in China's fixed-asset investment. "Since the sec...

Deutsche Bank buys 20.54 mln shares in Shanshui Cement, China

08 June 2012, Published under Cement News

Deutsche Bank AG acquired 20.54 million shares in China Shanshui Cement Group Ltd at HK$ 5.47/share and for a total of HK$112m on May 28th, sources reported, citing information released by the Hong Kong Stock Exchange. After the purchase Deutsche Bank's stake in Shanshui Cement increased by 0.73% to 7.66%. (Source: China Business Newswire)

Conch Cement to buy in Xinjiang Qingsong non-public issuance

04 June 2012, Published under Cement News

Xinjiang Qingsong Building Materials and Chemicals (Group) Co announced that it has signed a framework agreement with Anhui Conch Cement Company that the latter would buy 150 million shares the former has sold in a non-public offering at CNY13.53 each or over CNY2bn in total. Upon the agreement, Conch Cement will support Xinjiang Qingsong in technology, man-agement, project construction and market integration of cement business, stepping up cement market integration in the region where they...

Cemex to supply large Qingdao urban complex, China

01 June 2012, Published under Cement News

Cemex announced today that it is supplying nearly 60,000m3 of ready-mix concrete for the first stage construction of what is expected to be the largest urban complex in the Chinese city of Qingdao, in the eastern Shandong province. Qingdao is a major city with a population of approximately 7.6 million permanent inhabitants and in 2009 was named China’s most livable city by the Chinese Institute of City Competitiveness. Cemex was awarded the Hua Run Center project after a competitive biddin...

Southern Province Cements signs contract with Sinoma for Line No 3

31 May 2012, Published under Cement News

Southern Province Cement (SPC) and Chinese engineering company Sinoma have signed a SAR707m (US$188m) contract for the installation of a third new line at SPC’s plant in Tuhama. In a filing to the Saudi bourse, the cement producer said the contract will be executed over 24 months and once completed, the new line will have a capacity of 5000tpd. SPC said it will use its own funds to finance the project. In early March, the company announced that its second production line at Tuhama sta...

China consumption far from peaking – comment

31 May 2012, Published under Cement News

Daiwa investment bank says China's cement demand is "still far from peaking," as it expects policy loosening to accelerate construction activity, resulting in an uptrend in cement demand and prices from 2H12-13. The house says infrastructure is the largest consumer of cement (Daiwa forecasts it to account for 45%-46% of demand over 2011-13). Macroeconomic loosening, therefore, would improve the prospects for the cement market nationwide in 2H12. (Source: Dow Jones China Financial Newswire)

Daiwa reduces Anhui Conch price target, China

30 May 2012, Published under Cement News

Daiwa Research reduced its target price for Anhui Conch to HK$23 from HK$29.5, and downgraded the stock to "hold" from "outperform". The house said cement demand and selling prices in eastern China and along the Yangtze River, the key market for Conch, have been weaker than expected year-to-date. But Daiwa expects the situation to improve in 2H on the back of the central government's loosening policies.

Anhui Conch outlook

28 May 2012, Published under Cement News

HSBC has upgraded China-based Anhui Conch Cement to Overweight from Neutral, with an unchanged target price of HK$27.20. It tips "value emerging" for China cement sector, as recent price hikes in Hangzhou (in Zhejiang province) helps to stabilise cement prices in Eastern China. The house expects a gradual resumption of railway projects and acceleration of social housing construction to underpin demand in 2H12 Meanwhile, UBS has trimmed its target price for Conch to HK$31 from HK$36.5, an...

China to fast track infrastructure investment to spur growth

23 May 2012, Published under Cement News

China will fast track approvals for infrastructure investment to combat a slowdown in the economy, state-backed China Securities Journal reports.   The government had asked for project proposals by the end of June, even for those initially earmarked for the end of the year, said the journal. Citing government sources, the article said Beijing did not rule out bringing forward next year's projects, if it thought more investments would be needed to stimulate the economy.?The newspaper al...