Cement News tagged under: China
China first-quarter output rises 7.3%, prices fall27 April 2012, Published under Cement NewsAccording to the latest statistics released by China’s National Development and Reform Commission China cement output grew only 7.3% YoY in the first three months of this year slowing from an 18.1% increase in the same period of 2011. The price of cement continued to fall in March. The average ex-factory price at major cement enterprises dropped CNY18.2/t from February or CNY9/t from a year earlier to CNY363.4/t. At the end of last month, the cement inventory of these major cement enterpr... |
China Huaxin Cement changes investment plant25 April 2012, Published under Cement NewsHuaxin Cement said it will terminate plans to invest in 10 concrete projects and will use CNY172.56m of the uninvested funds on seven new projects, reports Yicai, citing a company filing yesterday. According to the announcement, the amount spent on the 10 projects totalled CNY9.91m. The land-use rights it already bought will be transferred, while the equipment purchased will be used for the new concrete projects. Huaxin Cement intends to fully acquire five concrete producers, including Ji... |
Risk to China cement stocks ‘more on the upside’25 April 2012, Published under Cement NewsUBS said that last week, cement prices in most regions of China remained flat and cement inventory levels fell in many regions due to better sales. The house says it is not expecting cement industry fundamentals to turnaround materially in the short term, but the macro-economic recovery and policy easing should remain the key positive drivers for the sector. UBS reiterates its positive view on the sector, believing the cement industry has returned to an upward trend in 2Q12 and "the risk to... |
China 1Q cement output up 7.3% YoY at 398.1bt24 April 2012, Published under Cement NewsChina produced 398.1Mt of cement in the first quarter of this year, an increase of 7.3% YoY, according to the latest data released by the National Development and Reform Commission (NDRC). |
Anhui Conch net profit falls 43.61%, China20 April 2012, Published under Cement NewsAnhui Conch Cement said yesterday that its net profit dropped 43.64% YoY to CNY1.25bn in the first quarter of this year, due to falling cement prices and rising production costs. Operating revenue was CNY8.86bn in the first three months, 4.9% less than in the same period of 2011. Cement sales, however, rose 10.3% YoY to 33Mt in the first three months, but its average sales price fell 13.8% YoY (7% QoQ) to CNY268/t. Earlier the company reported a net profit of CNY11.59bn for last year,... |
China Shanshui launches US$400m bond, China19 April 2012, Published under Cement NewsChina Shanshui Cement Group has launched a US$400m dollar bond to yield 10.5%, a person familiar with the matter told Dow Jones Newswires on Thursday. The planned five-year bond will be callable after three years, the person said. Initial price thoughts had suggested a yield in the "high 10s." Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Sta... |
Tianshan Cement first-quarter profit forecasts, China18 April 2012, Published under Cement NewsXinjiang Tianshan Cement, based in Xinjiang Uyghur Autonomous Region, has forecast that its net profit widened to CNY133m (US$ in the first quarter of 2012 from CNY7.41, a year earlier. The company's net profit soared 124 per cent YoY to CNY1.13bn in 2011, China Business Newswire reports. |
China Shanshui seeks to price dollar bond, China17 April 2012, Published under Cement NewsChina Shanshui Cement Group Ltd is seeking to price a benchmark US dollar bond to yield in the "high 10s," a person familiar with the matter told Dow Jones Newswires on Tuesday. Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Standard & Poor's Ratings Services. |
Jidong Cement profit warning, China17 April 2012, Published under Cement NewsTangshan Jidong Cement Co Ltd, a Hebei Province-based cement producer, predicted on 13 April that its net loss widened to CNY200-250m in the first quarter of this year from CNY11.27m a year earlier. |
Sichuan Shuangma Cement Co net profit drops17 April 2012, Published under Cement NewsSichuan Shuangma Cement Co net profit dropped 32.5% in 2011 to CNY162.65m (US$25.8m), from an adjusted 2010 net profit of CNY240.97m. The company's shares are down 1.4% at CNY8.48, but Dongxing Securities analyst Zhao Junsheng says he sees a longer-term upside. "The fall in profit was expected, and the overall cement sector is facing some pressure right now. If you look in the longer term, I expect to see some recovery" as regional demand for cement picks up, Zhao says. He maintains hi... |