Cement News tagged under: China
Morgan Stanley bearish on China Building Materials Sector22 March 2012, Published under Cement NewsMorgan Stanley believes second quarter pricing for China’s building materials will still be lower than the first quarter as it expects 2Q demand seasonal recovery to be weaker than normal years due to the slowing construction pace of property developers. “We hold the view that developers will not reaccelerate construction activities until they have cleared their four-year high property inventories,” In addition, the supply side is facing pressure as well, especially from new capacity addi... |
Asia Cement 2011 net profit rises, China22 March 2012, Published under Cement NewsAsia Cement (China) Holding Corp said its net profit rose by 162 per cent YoY in 2011 to CNY1.34bn (US$212.6m). Meanwhile, basic earnings per share stood at CNY0.86. Citigroup has upped Asia cement to Buy from Sell and raised its target price to HK5.36 vs HK$2.71. The house expects earnings should bottom with selling prices in central China down 10 per cent YoY and volumes almost frozen. The house adds that Asia Cement's FY11 dividend yield was 5%, providing good cash income, and the c... |
China cement output rises 4.8%20 March 2012, Published under Cement NewsCement production from China rose by 4.8 per cent in the first two months of 2012 to reach 216Mt. However, growth slowed by 4.3 percentage points from the same period last year, the National Development and Reform Commission (NDRC) reported. In February, the average cement price was CNY376.5/t down, down CNY31 from December 2011 but up CNY5.5/t YoY. |
West China Cement buys stake in Shifeng Cement16 March 2012, Published under Cement NewsWest China Cement has agreed to acquire a 55% interest in Shaanxi Shifeng Cement at CNY401.5m. The company has been granted an option to acquire a 10 per cent interest in Shifeng Cement for CNY73m. Shifeng Cement operates a 4500tpd clinker line with an annual capacity of 2Mta. |
Credit Suisse: earnings downside risk in China cement sector15 March 2012, Published under Cement NewsCredit Suisse says that data points in the past two weeks further weakened in the Yangtze Delta (YZD) while southern/central sough demands remains stagnant, as continued weak demand in (YZD) and surrounding provinces and new supply pressure drove another CNY20-60/t price cut in the region. The house says that earnings remain vulnerable to downside risk, driven by weakening cement prices and potential disappointment in sales volume, with data at the end of February suggesting a 35-75 per c... |
South Cement to issue CNY1.5bn in bills, China13 March 2012, Published under Cement NewsSouth Cement Co controlled by state-owned China National Building Materials Co, has announced plans to sisue CNY1.5bn worth of 365-day unsecured bills on the internet bank market on 15 March, according to reports by China Knowledge Press. The coupon rate will be determined in the process of book building. Both value date and payment due date is set on 19 March and the to-be-issued bills tradable on 20 March. Proceeds from the issuance will be used to repay bank loans and replenish workin... |
FLSmidth to tap market for air pollution control equipment in China09 March 2012, Published under Cement NewsFLSmidth has achieved authority approval of its first acquisition in China. Together with a minority shareholder, FLSmidth has started a company to market and sell air pollution control products to the cement industry in China. This local company is groundbreaking for FLSmidth as it combines local presence and relations with global technologies and resources. It will make FLSmidth, overnight, a powerful player in the multibillion dollar Chinese market for environmental control technologies. ... |
Henan Tongli Cement net profit surges, China08 March 2012, Published under Cement NewsHenan Tongli Cement, a cement producer based in the Henan Province of China, announced a net profit of CNY240.74m (US$38.1m) for 2011 which represents an 87.35 per cent YoY increase. Operating revenue, meanwhile, totaled CNY4.02bn, up 44.6 per cent on the previous year. |
Big coolers, big challenges07 March 2012, Published under Cement NewsWith an annual cement consumption of about 1.85bnt, China is by far the world´s largest cement market. This has created a demand for high-capacity clinker lines similar to those procured by the Anhui Conch Cement Company in autumn 2009 for its Wuhu and Tongling plants. While two lines have been erected and exceed their 12,000tpd design capacity, the third one is due to start up in April 2012. For the coolers of these new lines, Anhui Conch turned to Germany-based IKN. Dr Daniel Strohmeyer an... |
Conch sees China demand rising, Indonesian plans proceeding ‘smoothly’07 March 2012, Published under Cement NewsChairman of Anhui Conch, Guo Wensan, has said that Chinese cement demand growing despite curbs on the housing market. Speaking to Dow Jones Chinese Financial Wire on the sidelines of the National People’s Congress, Mr Wensan said the government's drive to push the construction of subsidised affordable housing is successfully offsetting declining cement demand from the private housing market. Cement demand from the 10 million affordable housing units started last year will peak from the s... |