Cement News tagged under: Pricing
Credit Suisse upgrades HeidelbergCement08 March 2013, Published under Cement NewsCredit Suisse has upgraded HeidelbergCement from underperform to neutral and increased its target price to EUR53.00 from EUR37.00, Dow Jones reports. The bank says a more upbeat outlook for global cement prices this year and increasing demand improve the industry’s pricing power. CS also cited lower cost pressures and HeidelbergCement’s fading balance sheet concerns as reasons for the upward revision. Preliminary figures from HeidelbergCement show an 8.7 per cent advance in turnover last ... |
Andhra Pradesh prices rise on new capacity additions, India08 March 2013, Published under Cement NewsCement prices in the Indian state of Andhra Pradesh have come down by about INR10-15/bag following the introduction of new capacity additions. The Business Standard of India reports that the drop in prices in southeastern state come at a time when other markets are witnessing an increase. Although consumption has been increasing in Andhra Pradesh over the last two/three months, these improvements to cement producers have been offset by increased supplies. |
Egypt considers levy on cement exports07 March 2013, Published under Cement NewsEgypt’s Ministry of Industry and Foreign Trade Eng Hatem Saleh has said that the ministry is considering imposing a levy on cement exports as a result of increases in cement prices on the local market. In a statement released last Thursday by Egypt’s State Information Service, the Minister said that cement prices in the local market have increased from EGP420/t to EGP700/t, while there is a significant deficit in cement supply in the market which is also leading to increased prices. T... |
Macquarie more positive on China cement sector07 March 2013, Published under Cement NewsResearch house Macquarie is turning more positive on the cement sector and expects to see more signs of downstream demand recovery in mid-2013 following a recent market visit. Macquarie has lifted its target price for Anhui Conch to HK$30 from HK$17.5, and upgraded the stock to "neutral" from "underperform". It has increased its 2013-14 earnings forecast by 8-11 per cent to factor in stronger consolidation-driven volume growth in the coming 2-3 years. Macquarie is It has also lifted i... |
Italcementi incurs substantial trading losses in Italy and Spain06 March 2013, Published under Cement NewsItalcementi has reported a 2012 trading loss compared to a profit in 2011 as the Italian cement major incurs substantial losses in its domestic market and Spain. Italian prices, however, see important improvements. Turnover for the year declined by 3.8 per cent in 2012 to €4480.1m but underlying EBITDA was down by 9.8 per cent to €632.4m. After an impairment charges that jumped from €134.3m to €309.4m, last year's trading profit of €138.9m was turned into a €150.9m loss. Net financial ... |
Credit Suisse upgrades Taiheiyo Cement, Japan06 March 2013, Published under Cement NewsCredit Suisse has upgraded Japan’s leading cement producer Taiheiyo Cement to Outperform from Neutral and sees improved profits for the company in the next fiscal. The house sees a one-off but substantial shortfall versus guidance in the current fiscal year due to higher fixed costs and increases in cost outlays due to production-related issues. However, it expects the company to achieve profits in the fiscal ending March 2014 on a comparative profit rebound, relatively large benefits from... |
Egypt: rising prices prompt monopoly concerns05 March 2013, Published under Cement NewsA recent rise in Egyptian cement prices has prompted the country’s Consumer Protection Agency to file a complaint with the Protection of Competition on price fixing allegations. The Consumer Protection Agency is claiming that cement companies have tactically agreed to raise cement prices, according to reports in Al-Masry Al-Youm press. The report states that the president of the Consumer Protection Agency, Atef Yaaqoub, has questioned the price increase given that cement supply has gone up... |
India’s COMPAT hears petitions on cartel ruling25 February 2013, Published under Cement NewsIndia’s Competition Appellate Tribunal (COMPAT) has begun hearing the petitions filed by cement firms on a US$1.1bn penalty imposed on them by the Competition Commission of India on grounds of cartel practices. A COMPAT bench, headed by its chairman Justice VS Sirpurkar, began hearing the petitions last week and the hearings are expected to resume today (Monday 25 February) and be carried out on a fast-track basis this week, the Economic Times of India reports. The Competition Commissi... |
Eagle Materials trading profit almost trebles, USA07 February 2013, Published under Cement NewsEagle Materials' turnover, including its share of the Texan cement joint venture with HeidelbergCement, rose by 22.7 per cent to US$366.32m for the six months to the end of September and the trading profit virtually trebled to US$53.35m. After a net interest 20 per cent lower at US$7.31m, the pre-tax profit jumped by 424.5 per cent to US$46.04m. Net debt of US$243.9m at the end of September represented 48.6 per cent of shareholders' funds compared with 59.4 per cent a year earlier. Eagle ... |
Lafarge Mauritius raises cement price by 7%06 February 2013, Published under Cement NewsLafarge Cement Mauritius Ltd has announced it will raise the price of a 50kg bag of cement following Holcim's move to increase prices by six per cent at the start of this year. Lafarge said it was raise prices from MUR170/bag (US$5.55) to MUR182 (US$5.94) on Monday. The company said the price increase was necessary due to a number of factors. Import, insurance and freight costs have risen by around 6.7 per cent and other costs have been subject to inflationary increases, says the cemen... |