Cement News tagged under: Pricing
South Korea: local producers to face price probe?24 July 2015, Published under Cement NewsSouth Korea's Fair Trade Commission (FTC) has initiated another investigation into whether domestic cement producers colluded to raise cement prices. According to industry sources and the FTC Friday, the antitrust watchdog conducted an onsite probe into major cement makers including Tongyang Cement & Energy and Hanil Cement in mid-July, the Maeil Business Newspaper reports.. Upon the request from the ready-mixed concrete industry, the regulator kicked off investigation into cement makers' a... |
Egypt: Suez Cement 2Q net profit drops 57%22 July 2015, Published under Cement NewsSuez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier. Revenue over the three month period declined by 15 per cent due to lower prices and exports. Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits". |
Kazakhstan: Steppe's 1H volumes edge ahead, revenue falls14 July 2015, Published under Cement NewsIn the first half of 2015, Steppe Cement Ltd sold 717,654t of cement for KZT8277m (US$44.3m), which compares with 709,459t of cement for KZT9125m in the first half of 2014. This represents an increase of one per cent and a decrease of nine per cent, respectively over the same period in 2014. The company said in a statement that the average price for the current period for delivered cement was KZT11,533/t excluding VAT (EUR56), compared with KZT12,862/t (EUR62) in the corresponding period o... |
West China Cement issues first-half profit warning02 July 2015, Published under Cement NewsWest China Cement Ltd said Wednesday it expects to record a "significant decrease" in net profit for the six months ended June compared with a year ago. The Hong Kong-listed cement producer said the anticipated decline is mainly attributed to the low average selling price of cement over the past 12 months. The company also said it was unable to maintain "reasonable selling prices and healthy margins" in the southern part of the Shaanxi region. West China cement recorded a net profit of C... |
Saudi clinker production declines30 June 2015, Published under Cement NewsClinker output in Saudi declined by 12 per cent YoY in May 2015 in producers deliberately attempt to shore up cement prices, claims a report by NCB Capital. Stockpiles had built up partly as a result of decrees by the late King Abdullah to ensure the country did not run out of supplies. In April 2013, the king also set aside US$800m for the import of volumes and construction of kilns to boost supplies. However, new regulations introduced later in the year to reduce the number of illegal for... |
China: UBS lowers CRC target price, earnings estimates30 June 2015, Published under Cement NewsUBS 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 Indonesia29 June 2015, Published under Cement NewsFollowing 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 ... |
Dangote29 June 2015, Published under Cement NewsTrial 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 demand26 June 2015, Published under Cement NewsSemen 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 investigation19 June 2015, Published under Cement NewsIreland’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... |