Cement News tagged under: Pricing

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Guangdong Tapai Group Co net profit jumps on higher prices

22 April 2014, Published under Cement News

Guangdong Tapai Group Co Ltd saw net profit reach CNY159m (US$25.5m) in the first three months of the year, rising 224 per cent YoY, the south China-based cement producer said on Monday. Operating revenue rose 12 per cent YoY to CNY880m. The company attributes the profit jump to a 23.22 per cent increase in the average selling prices over the first quarter of 2014.

Steppe Cement 1Q14 market update, Kazakhstan

18 April 2014, Published under Cement News

Steppe Cement Ltd said it sold 198,607t of cement in the 1Q14 for KZT2486m (US$13.7m), compared to 166,121t of cement for KZT2272m in 1Q13, representing an increase of 20 and nine per cent, respectively. The company reported that the Kazakhstan cement market remained broadly similar compared to the same period of 2013, although the weather was colder this year compared to last. Steppe Cement's market share increased from 15 per cent in 1Q13 to 17 per cent in the first three months of the ye...

Congo Rep to benefit from rising investment

17 April 2014, Published under Cement News

The Republic of Congo is increasingly attracting foreign investment into its cement industry. By 2016 three further cement plants are expected to come online as the government aims to expand the country’s production base. Morocco-based CIMAF plans to build a cement works in Kouilou, Nigeria’s Dangote in Bouenza and India-headquartered Diamond Cement in Pool. With 4m inhabitants, Congo’s current cement demand stands at 2Mta. At present only a relatively small part of this is supplied by tw...

China Resources Cement sees strong growth in attributable profit

15 April 2014, Published under Cement News

China Resources Cement (CRC) has said it expects profit attributable to shareholders for the quarter ending 31 March 2014 to be significantly higher compared to the corresponding period of 2013. The improvement is mainly attributed to higher average selling prices (ASP) of cement and clinker as well as reduced coal costs compared to 1Q13. The company’s quarterly results announcement will be issued at the end of April. Macquarie Research has slightly lifted its target price for the compa...

Hetauda Cement hikes prices, Nepal

04 April 2014, Published under Cement News

The board of Hetauda Cement Industries Ltd decided on Tuesday to raise the price of cement due to increased raw material costs. The Nepalese-based cement producer is to increase prices by NPR28.25/bag (US$0.30), the Kathmandu Post reported. Following the revision, the price of a bag of cement will cost NPR684.78 for dealers while development projects it will be NPR696.08. The retail price has been fixed at NPR718/bag but will cost NPR840 in Kathmandu, according to the company. This is t...

Texas Industries third-quarter net loss widens

03 April 2014, Published under Cement News

During the first nine months to the end of February, Texas Industries Inc saw turnover rise by 34.4 per cent to US$649.8m and the EBITDA advanced by 46 per cent to US$69m. After a more than doubling of the net interest charge from US$22.5m to US$52.2m, a US$2.8m merger charge and a 95.9 per cent jump in other net costs, the pre-tax loss rose by 47.8 per cent to US$41.7m and the net loss jumped by 98.9 per cent to US$39m. The net debt at the end of February was 2.8 per cent lower at US$611m...

China cement prices ease

26 March 2014, Published under Cement News

Cement prices in China eased to a national average of CNY361/t (US$58) by 28 February 2014, down from a recent peak of CNY373/t (US$60) on 20 January, according to figures from Digital Steel. The downturn was largely due to weakening prices in Central Southern and Eastern China. Meanwhile, the industry's inventory ratio climbed to 72 per cent by end-February, up from a trough of 62 per cent on 8 November 2013. Figures from the National Bureau of Statistics show output rising by 10.8 per cen...

West China Cement ratings upgrade

25 March 2014, Published under Cement News

Moody's Investors Service has changed the outlook of the  B1 corporate family rating and B1 senior unsecured bond ratings of West China Cement from negative to stable. At the same time, the research house has affirmed both ratings. "The change in outlook to stable reflects an improvement in WCC's debt leverage and a slowdown in its capital expenditure," said Jiming Zou, a Moody's Assistant Vice President and Analyst. In addition, Moody's pointed out that the acquisitions made by WCC in ...

Iran cement prices set to increase

19 March 2014, Published under Cement News

Iranian cement prices are set to increase by 14-21 per cent in the next Iranian calendar year (starting 21 March 2014), local press have reported. The Iran Cement Producers Association and the Industry, Mine and Trade Ministry earlier this year signed an agreement allowing the association to decide on prices, Iran’s ISNA News Agency reported. During the current year, prices rose by 14-21.5 per cent. The country produced 58.226Mt of cement in the first 10 months of this year, of whic...

UBS raises China Resources target price, maintains ‘buy’ rating

18 March 2014, Published under Cement News

UBS has raised its target price for China Resources Cement to HK$7.3 from HK$6 and maintained its ‘buy’ rating. The research house expects the South China cement market to remain solid in 2014-15. Market quoted cement prices in Guangzhou and Nanning have been CNY110/t (32.8 per cent) and CNY90/t (33.3 per cent) higher YoY, respectively. UBS said the Chinese cement producer is negotiating with the local government about taxes and it could receive a rebate in 2014. It has upgraded Chi...