Cement News tagged under: Pricing
China Resources Cement sees strong growth in attributable profit15 April 2014, Published under Cement NewsChina 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, Nepal04 April 2014, Published under Cement NewsThe 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 widens03 April 2014, Published under Cement NewsDuring 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 ease26 March 2014, Published under Cement NewsCement 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 upgrade25 March 2014, Published under Cement NewsMoody'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 increase19 March 2014, Published under Cement NewsIranian 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’ rating18 March 2014, Published under Cement NewsUBS 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... |
Honduran authorities to monitor cement prices17 March 2014, Published under Cement NewsThe Secretariat of Economic Development in Honduras announced it will be monitoring cement prices to protect consumers in San Pedro Sula, northern Honduras. Miguel Angel Bonilla of the Consumer Protection Directorate said that apart from monitoring costs of basic products, the performance of the construction industry would also be reviewed. "We have turned the relevant instructions for our team to monitor cement prices, in order to prevent providers from acting to the detriment of con... |
Energy shortage behind Egypt cement price spike11 March 2014, Published under Cement NewsEnergy shortages are behind the recent spike in Egyptian cement prices as reduced gas supplies lowers output, a statement by Egypt’s cabinet has said. Daily News Egypt reported that interim Prime Minister Ibrahim Mehleb, who heads the cabinet, met with Minister of Foreign Trade, Industry and Investment Mounir Fakhry Abdel Nour, Minister of Energy and Electricity Mohamed Shaker, Minister of Petroleum Sherif Ismail and Minister of Environmental Affairs Leila Iskander on Sunday. Medhat Stepha... |
Argos increases cement price in Honduras07 March 2014, Published under Cement NewsArgos Honduras will increase the price of its cement as of Tuesday, 11 March after it received government authorisation to raise prices by HNL8/bag. A 42.5kg bag of Piedra Azul cement will cost HNL168. The company had sought a price hike of eight per cent or HNL11. "We have been meeting with executives from Argos, after more than a month and a half of analysis costs we believe that the company has had significant increases in the structure of its business operations and is able to reque... |