Cement News tagged under: China

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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...

Fujian Cement to inject CNY950m into subsidiary, China

21 May 2012, Published under Cement News

Fujian Cement Inc is to jointly invest with its second-largest shareholder, South Cement Co Ltd, a combined CNY950m (US$150m) into Fujian Cement's fully-owned cement subsidiary. Its subsidiary will mainly use the funds to invest in its cement and related businesses. After the capital injection the two investors will each hold a 50% stake in the target company, which will have a registered capital of CNY1bn. (Source: China Business Newswire).

Deutsche Bank sells 86.58m shares in Shanshui

21 May 2012, Published under Cement News

Deutsche Bank AG sold 86.58m shares, or a 3.08% stake, in China Shanshui Cement Group Ltd at HK$5.79/share and for a total of HK$502m on 10 May, according to a filing on the Hong Kong Stock Exchange. After the sale Deutsche Bank's stake in Shanshui Cement fell to 6.89%.

Citi cuts CNBM, Conch target price, China

11 May 2012, Published under Cement News

Citi Group has cut the target price of Chinese players CNBM to Sell and Anhui Conch to Neutral and outlines the latter's latest moves in terms of suspended and new capacity. “We think the industry affiliation in East China market is breaking down. Mills are restarting suspended production lines to recoup volume. Demand is recovering, as we expected, however not as fast as the supply resumption. Price pressure should materialize in the next one to two quarters,” the house said in a statem...

West China acquisition of Fuping Cement positive – Moody’s

10 May 2012, Published under Cement News

Moody's commented that West China Cement's (WCC) acquisition of Fuping Cement is credit positive for WCC (Ba3, negative). Fuping Cement owns a 2Mt cement production plant in Zhuangli town in Shaanxiand a 35% interest in Shifeng Cement which has a 2Mt plant in Caocun town, also in Shaanxi. WCC is also still completing the acquisition of a 65% interest in ShifengCement, which began in March 2012. Moody's said the issuance of HK$620m worth of new shares to acquire capacity will enhance its...