Cement News tagged under: Pricing
Steppe Cement’s full-year profit rises on increased sales and prices25 April 2013, Published under Cement NewsKazakhstan-based cement producer Steppe Cement Ltd on Wednesday confirmed that pretax profit more than doubled in the year ended 2012 thanks to sales that were up by almost 10 per cent YoY and higher prices. Group revenue rose to US$120.17m for the year compared to US$96.11m in 2011 while pretax profit was US$12.04m compared to US$5.55m the year before. Cement sales increased by 9.8 per cent to 1.35Mt against 1.23Mt in 2011 while selling prices rose 14 per cent, well over the overall in... |
South Korean cement producers to withdraw price hikes24 April 2013, Published under Cement NewsMajor cement producers in South Korea have withdrawn price rises announced earlier in 2013 and will maintain current prices for a year. Manufacturers such as Tongyang Cement, Hanil Cement and Sungshin have sent official notices to ready-mix concrete companies and construction contractors stating that they would freeze prices for a year, according to reports by the Korea Economic Daily. Since February, cement producers have been planning to initiate a 9-10 per cent price increase due to... |
UltraTech Cement quarterly net profit falls 16.3%, India23 April 2013, Published under Cement NewsUltraTech Cement on Monday announced a 16.3 per cent YoY fall in quarterly profit, which it attributed to an increase in railway freight costs and diesel prices. The company reported standalone profit of INR7.26bn (US$134.26m) for the January-March quarter. Net sales rose one per cent to INR53.89bn and combined cement and clinker sales of grey cement were almost flat at 11.13Mt for the quarter. Fortunately, there was some respite as coal prices softened during the quarter. Brokerage firm J... |
Anhui Conch reports first quarter decline, China23 April 2013, Published under Cement NewsChina’s second-largest cement producer by capacity, Anhui Conch Cement, reported a decline in first-quarter net profit but an improved pricing environment has begun to emerge in the company’s key regional markets. Conch said its net profit attributable to shareholders for the first three months of 2013 declined 22.18 per cent YoY to CNY972m. Operating revenue was CNY9.91bn, an increase of 11.8 per cent from a year earlier. On its outlook, Morgan Stanley said: "we still like Conch's... |
Positive earnings outlook for Siam Cement, Thailand23 April 2013, Published under Cement NewsSiam Cement Plc (SCC) of Thailand is expected to post good earnings growth thanks in part to domestic demand for cement and building products remaining strong. According to analysts at KGI Securities, SCC is likely to report a 1Q13 net profit of THB7.5bn, up 25.9 per cent YoY and 8.7 per cent QoQ thanks to a solid performance from the cement unit and clear signs of upturns for the chemical and paper units, which should help increase 1Q13 EBITDA margin to 11.4 per cent from 9.6 per cent in... |
Goldman positive on Eastern China markets23 April 2013, Published under Cement NewsGoldman Sachs said it remains positive on China's cement sector but continues to be regionally and stock selective. The investment bank expects further upside to cement prices in Eastern China, given its current lowest inventory across the regions, and least new capacity additions in the year, benefiting Anhui Conch and CNBM. However, Northern/Southern China's cement prices are already under pressure from high inventory/overcapacity. Goldman estimated NSP capacity to increase by 11 and 1... |
Attock Cement quarterly profit higher on increased prices, Pakistan17 April 2013, Published under Cement NewsPakistan-based producer Attock Cement reported a 40 per cent rise in profit during the January-March 2013 quarter, driven by higher prices. Profit rose to PKR520m (US$5.3m) during the period compared to PKR371m in the corresponding period of 2012. With cement demand subdued during the winter period, the advance was attributed to increased prices. Cement prices averaged PKR438/bag (US$4.45) against PKR402 in the corresponding quarter of 2012. Additionally, federal excise duty was reduced by... |
Russia: status and prospects17 April 2013, Published under Cement NewsThe Russian cement industry is ranked in the world top 10 in terms of cement capacity. Amongst the BRIC nations, Russia is second only to China in terms of per capita cement consumption. In recent years, the industry has witnessed a real turning point with consumption continuing to climb and new capacity being installed. But what does the long-term future hold? By CMPro, Russia. A view of Moscow’s city centre. The capital has developed into modern and bustling city, as the many new... |
Improved outlook for Asia Cement Corp in 201312 April 2013, Published under Cement NewsTaiwanese producer Asia Cement Corp is expected to return to a path of growth this year driven in part by earnings growth from its operations on mainland China, a recent report by HSBC has said. Last year, Asia Cement’s net profit plunged 38 per cent to TWD6.24bn (US$208.3m), which was 16 per cent lower than HSBC’s forecast. However, the Taipei Times reports that HSBC analyst Elaine Lam retained her “neutral” rating on Asia Cement, with an unchanged 12-month target price of NT$36.45, repr... |
South Korean cement producers face cartel probe10 April 2013, Published under Cement NewsSeven cement producers in South Korea are being investigated by the country’s Fair Trade Commission for alleged price collusion. According to local press reports, the commission sent its investigators on the 9 April 2013 to the sites of Ssangyong Cement Industrial, Hanil Cement Tongyang Cement, Sungshin Cement, Lafarge Halla, Asia Cement, and Hyundai Cement in order to conduct the probe which is expected to last two days. An industry source told the Korea Economic Daily: “Lately cemen... |