Cement News tagged under: Pricing

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Spanish watchdog initiates preliminary inspection

25 September 2014, Published under Cement News

The Spanish competition watchdog Comisión Nacional de los Mercados y de la Competencia (CNMC) has carried out inspections at the headquarters of companies that produce cement, concrete and their derivatives. The preliminary inspections were carried out over 16-18 September 2014 for alleged anti-competitive practices. Should suspicions be confirmed, the regulator will open disciplinary proceedings, which could result in fines amounting to 10 per cent of the companies' turnover.

Indonesian firms expect better second-half

23 September 2014, Published under Cement News

Two of Indonesia's top three cement producers are expecting a better financial performance in the second half of this year, on the back of growing demand despite a projected slowdown in the country's economy. Christian Kartawijaya, president director of Indonesia's second-largest producer PT Indocement Tunggal Prakarsa, told reporters at the Investor Summit 2014 that there would likely be more construction projects carried out in the second half of the year. “The projected growing cement ...

Steppe swings to first-half loss

16 September 2014, Published under Cement News

Kazakhstan cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$4.1m for the six months ended 30 June 2014 against a profit of US$2.2m in the comparative period of last year. Sales increased by 26 per cent in volume and 16 per cent in tenge (KZT) in 1H14 against 1H13. However, as a consequence of the February devaluation of the KZT against the USD, turnover in US dollars decreased by five per cent. The average ex-factory price declined from KZT12,084/t in 2013 to...

Pick-up in south Indian prices

12 September 2014, Published under Cement News

Cement producers with operations in the south of India are expected to see improvements in profitability helped by better price realisations and an anticipated increase in demand. Cement demand in south India is expected to be boosted after the formation of the Telegana state, ending political state, a report by the Economic Times of India stated. Moreover, prices in the south, particularly Andhra Pradesh which had remained weak, have been looking up since June, the report added. Price i...

Unicem cuts 32.5 grade prices, Nigeria

11 September 2014, Published under Cement News

United Cement Company of Nigeria (Unicem) has decided to reduce the price of its 32.5 cement grade by NGN125, Bukola Adebisi, technical service engineer of the company, announced. The move comes again the backdrop of recent price reductions in the country, according to the company. “Incentives are on ground currently for the dealers and with the current atmosphere of cement prices, UNICEM management has adequately responded by reducing the price of its 32.5 cement grade by N125/bag," Adebis...

China’s watchdog fines three producers for price fixing

10 September 2014, Published under Cement News

China’s price regulator has fined three domestic cement makers CNY114m (US$18.58m) for price fixing, the National Development and Reform Commission (NDRC) said in a statement on its website. Among the firms were units of Jilin Yatai Group Co Ltd , China National Building Material Co Ltd and Tangshan Jidong Cement Co Ltd.

Dangote rolls out price cuts, Nigeria

05 September 2014, Published under Cement News

Dangote Cement yesterday said it has reviewed the price of its cement in Nigeria and announced a price cut of NGN100 (US$1)/50kg bag. Speaking to local journalists, the company's managing director, Edwin Devakumar, said that the new prices would be rolled out to distributors as of 4 September 2014. Mr Devakumar also stated that to further comply with the Standards Organisation of Nigeria (SON) directive and regulations, the company has announced plans to launch its grade of premium 32...

Lucky boosted by higher volumes and pricing

03 September 2014, Published under Cement News

Pakistan’s largest cement producer, Lucky Cement, reported a net profit of PKR11.3bn (US$110.34m) for the fiscal ending 30 June 2014, up 16.4 per cent compared to PKR9.7bn in the previous year. Earnings growth was primarily supported by higher sales volumes and prices during the period. On a quarterly basis, earnings grew four per cent QoQ to PKR3.15bn. Revenue increased 14 per cent YoY to PKR43.08bn during FY14 because of a nine per cent rise in sales volumes to 6.62Mt and a 14 per ce...

China Tianrui Group Cement Co attributable profit climbs 15.6% YoY

29 August 2014, Published under Cement News

China Tianrui Group Cement Co said its attributable net profit for the six months to the end of June 2014 rose 15.6 per cent YoY to CNY327m (US$53.2m). Revenue rose 15.4 per cent from a year earlier to CNY4296m. The gross profit margin increased to 22.3 per cent in 1H14 versus 21.6 per cent in 1H13, primarily due to the lower cost of sales and slightly higher average selling prices of cement.

West China Cement first-half revenue rises despite flat volumes

18 August 2014, Published under Cement News

West China Cement reported higher revenue and gross profit margins for the six months to the end of June 2014, boosted by higher average selling prices (ASP) in its core markets in Southern Shaanxi province as overall sales volumes remained flat. Revenue reached CNY1,997.7m an increase of 1.5 per cent from a year earlier. The gross profit margin increased to 19.3 per cent from 17.6 per cent for the same period last year. Profit attributable to owners for the six months ended 30 June 2014 d...