Cement News tagged under: Pricing

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Spanish watchdog includes Lafarge and Holcim in cartel proceedings

15 April 2015, Published under Cement News

Spanish competition regulator CNMC has included Lafarge and Holcim in the proceedings for alleged cartel agreements brought up against a number of sector players at the end of 2014. Additionally, the CNMC has extended the proceedings to Materiales y Hormigones and Hormibusa. The move was based on information gathered during several inspections carried out in September for alleged exchange of information, price fixing and market division practices in the cement and concrete sector. The CN...

Saudi cement sales see annual gains

09 April 2015, Published under Cement News

Saudi cement sales for the month of February 2015 were 6.5 per cent higher than in February 2013 and 9.7 per cent higher than February 2014 when the market was impacted by a labour shortage caused by a government immigration crackdown, according to new research from NCB Capital. Sales were 3.3 per cent lower than in January 2015, but this was due to the shorter working month. NCB Capital said the increase was led by smaller players in the market like Najran Cement and Aljouf, who are co...

TPI Polene: solid growth prospects

01 April 2015, Published under Cement News

TISCO Securities has reinitiate coverage of Thai cement producer TPI Polene with a ‘Buy’ based on exciting growth prospects. Coverage on TPIPL is reinitiated with a 'Buy' rating as the company is expected to post strong three-year CAGR in normalised profit of 160 per cent. Key earnings drivers are: 1) its expansion into alternative fuel power plant with a total capacity of 199MW over the next three years; 2) a 50 per cent increase in its cement capacity from investment in its fourth cemen...

Honduras: cement price up HNL10.35 in past year

24 March 2015, Published under Cement News

A 42.5kg bag of cement in Honduras has seen its price rise by HNL10.35 (US$0.48) in the past 12 months as the ex-works price was dollarised. In February 2014, the Ministry of Economic Development (SDE) and cement companies agreed to set the price at US$7.60/bag. From February 2014 to March 2015 the price rose from HNL157.10 to HNL167.45/bag. However, regional variations exist. In the capital Tegucigalpa, a bag costs HNL178-180 while in Nacaome and San Lorenzo cement retails at HNL190/...

Moody's: WCC's weakened 2014 results to have no impact on ratings

20 March 2015, Published under Cement News

Moody's Investors Service says that West China Cement Ltd's (WCC) weakened 2014 results are in line with the rating agency's expectations and will have no immediate impact on the company's B1 corporate family and senior unsecured ratings, or its stable rating outlook. "WCC's weakened profitability resulted in an increase in its financial leverage in 2014. However, we expect its financial leverage to slightly improve over the next 12-18 months owing to lower capital expenditure, says Jiming...

TCC International Holdings net profit rises 22.5%

13 March 2015, Published under Cement News

TCC International Holdings Ltd said net profit surged 22.5 per cent to US$264m. The Chinese cement producer attributed the profit rise to strong sales in southern China, where production plants in Guangdong and Guangxi provinces contributed more to sales. However, both cement sales and average selling price has dropped in the second half of 2014, it said in a public statement.

Australia: Boral set for building price boost

12 March 2015, Published under Cement News

Price increases for building materials products suggest Boral Ltd shares could go higher, says Deutsche Bank. Dow Jones reports that the broker notes suppliers of construction materials such as cement are targeting price increases of 8-20 per cent from April. "While price increases were relatively unsuccessful in 2014, we believe there is a greater likelihood of success this year given demand conditions are more robust, and industry discipline appears to have improved (particularly in Que...

Challenging year in store for Holcim Indonesia?

11 March 2015, Published under Cement News

Holcim Indonesia will be challenged by tighter competition and high debt levels that could spike costs this year, according to a report by Bahana Securities has said after the cement producer announced 30 per cent lower profits last year. Indonesia's third-largest cement producer saw its net profit plunge to IDR668.35bn (US$50.69m) in 2014 from IDR952.11bn in 2013, as costs soared, despite an increase in revenues which were up 8.67 per cent YoY. However, the rise in revenues was could not...

Upbeat outlook for Siam Cement PLC

25 February 2015, Published under Cement News

Kasikorn Securities (Thailand) has reinitiated coverage of Thai conglomerate Siam Cement PLC with an 'Outperform' rating due to renewed optimism in domestic cement consumption and further improvement in its chemical business' profitability. The research house says the Thai cement industry is expected to resume its organic growth at about 6-7 per cent in 2015. “We believe that the industry has already passed the bottom with the government’s planned investment in major infrastructure projec...

Indonesia: producers' shares fall on Widodo price move

24 February 2015, Published under Cement News

Shares of two of Indonesia’s leading cement producers have lost at least 13 per cent from their July 2014 peak following the decision by the country’s new president to impose price cuts on state-owned cement manufacturers. During the presidential election last July, shares of PT Holcim Indonesia and PT Semen Indonesia jumped to one-year highs fuelled by bets that Widodo’s US$18bn infrastructure spending pledge would boost domestic cement demand and lead to an earnings windfall. However, la...