Cement News tagged under: Pricing

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China: UBS lowers CRC target price, earnings estimates

30 June 2015, Published under Cement News

UBS Global Research lowered its target price for China Resources Cement (CRC) to HK$4.8 from HK$5.3, and maintained its 'neutral' rating. The research house said CRC has underperformed the Hang Seng China Enterprises Index (HSCEI) by 39ppt over the past six months, which it attributed mainly to stretched fundamentals in its key market of southern China. Year-to-date, the average selling price (ASP) of cement in Guangdong and Guangxi provinces has dropped 23.9 per cent in 2015 to CNY295/t (...

PT Semen Indonesia

29 June 2015, Published under Cement News

Following instructions earlier this year from Indonesia's president to lower cement prices to help support the government’s huge infrastructure projects, Semen Indonesia has seen its prices fall by around 10 per cent so far this year. But with new rivals entering the market and the economic slowdown continuing to dampen demand, the company is looking to the export market to help boost sales. Total Indonesian cement consumption has fallen from 23.78Mt in January-May 2014 to 22.87Mt in the ...

Dangote

29 June 2015, Published under Cement News

Trial production has got underway at Dangote’s new 2.5Mta integrated cement plant in Ethiopia. Following kiln ignition in April, the US$480m plant has now been connected to the electricity grid and stockpiles of limestone are in place. According to local sources, 1.2m packaging bags have arrived from Egypt and 23 transportation trucks have also been delivered to the port of Djibouti. The plant is located in the West Shewa Zone, 85km from the capital Addis Ababa. As part of its ongoing exp...

Semen Indonesia lowers prices amid increased competition, weaker demand

26 June 2015, Published under Cement News

Semen Indonesia, the country's largest cement producer, has reduced cement selling prices by around 10 per cent this year and is looking to increase exports against a backdrop of heightened competition in a weaker demand environment. Following a presidential instruction in January this year calling on state-owned cement producers to lower their prices by IDR3000/bag, Semen Indonesia has so far adjusted its prices by around 10 per cent this year, the Jakarta Post reports. Cement prices had...

Irish competition watchdog to go to High Court as part of cement industry investigation

19 June 2015, Published under Cement News

Ireland’s Competition and Consumer Protection Commission (CCPC) will go to the High Court next month as part of its probe into alleged anti-competitive practices in the cement industry, according to a report in the Irish Times. The State’s competition watchdog last month seized thousands of documents when it raided the offices of CRH subsidiary Irish Cement. It also visited the offices of several other companies. The daily newspaper reported that the CCPC will ask the court next month to r...

Indonesian president caps cement prices during peak periods

19 June 2015, Published under Cement News

Indonesia's president has signed a decree allowing the government to cap prices of cement, staple foods and other basic goods during peak periods, a presidential spokesman said. "This regulation gives the authority to the government to set special prices ahead of, on, or after religious holidays or during periods of price volatility," Teten Masduki, presidential spokesman, told reporters. The government is imposing extra measures to ensure prices for food and basic goods do not spike durin...

Spanish regulator expands cartel probe

10 June 2015, Published under Cement News

Spanish competition watchdog, CNMC, has expanded its probe into concrete and cement producers on alleged cartel agreements. The regulator carried out inspections at the headquarters of concrete and cement makers on 27 and 28 May as part of the probe on 14 sector players, the CNMC said in a statement. The regulator said it has 18 months to decide whether it will impose a fine on the companies and reminded that the investigation on potential cartel agreements is among its priorities, econo...

Kenya cement prices seen rising on weak shilling

09 June 2015, Published under Cement News

Cement prices in Kenya are likely to rise due to a weak shilling which manufacturers say has increased spending on imported equipment and inputs, local press report. Cliinker, coal and spare parts are the most affected due to high importation costs in the past two months. "In May alone we lost KES160m in foreign exchange loss during the purchase of equipment and inputs. We might adjust prices in June because we are losing a lot," National Cement managing director Narendra Raval told ...

RAM reaffirms Lafarge Malaysia ratings on strong business and financial profile

05 June 2015, Published under Cement News

RAM Rating Services has reaffirmed the ratings of Lafarge Malaysia Bhd’s debt notes based on the strong business and financial profile. The ratings agency had on Thursday reaffirmed the AA2/Stable/P1 ratings of the group’s MYR350m Islamic securities programme (2010/2017). “The ratings are premised on Lafarge Malaysia’s strong business and financial profile. The group is the leading producer of cement in Malaysia, whose annual production capacity of almost 13Mt accounts for about 40 per...

Ramco boosted by cost control, stable pricing

04 June 2015, Published under Cement News

India-based Ramco Cements reported a 274 per cent rise in 4QFY14-15 net profit to INR934.2m (US$14.6m) on better cost management and stable cement prices. Revenues for the three months to the end of March 2015 edged ahead by 1.2 per cent to US$156m but sales volumes fell 16.4 per cent to 1.88Mt (2.25Mt a year earlier). For the fiscal year that ended on 31 March 2015, Ramco Cements achieved a profit of US$37.9m, a rise of 76 per cent and a revenue of US$584m. Cement sales totalled 7.67M...