Cement News tagged under: Pricing
Taiwan Cement sees higher demand and prices lifting fourth quarter06 November 2012, Published under Cement NewsTaiwan Cement Co expects profits to rise in the fourth quarter of on the back of increasing demand and rebounding cement prices in China. TCC’s net profits in the first three quarters dropped nine per cent YoY to NT$6.002bn (US$200.01m) as it suffered from declining cement prices in China. However, with cement prices in southern and eastern China in the fourth quarter nearly 50 per cent higher over the first half of 2012, along with increasing shipments, TCC’s operation in China is expec... |
China cement sees Jan-Sept slowdown05 November 2012, Published under Cement NewsChina's cement sector witnessed a sharp slowdown in the first nine months of this year, according to the latest data from the National Development and Reform Commission (NDRC) Cement output rose 6.7 per cent YoY to 1.59bnt in the January-September period, compared with 18.1 per cent recorded in the same period of 2011, according to a recent NDRC report. The factory price of cement tumbled 18.7 per cent from August to an average of CNY317.3/t (US$50.36). At the end of September, ceme... |
Egypt cement prices rise02 November 2012, Published under Cement NewsEgypt’s cement market has witnessed an increase of EGP50/t (US$8) resulting in complaints from wholesalers. “Since before the Eid holiday, cement producers have been pressing to increase price per tonne,” cement wholesaler, Khairy El-Batrawy said. Cement wholesalers reported that they received messages from cement producers on Monday, notifying them about the increase. El-Batrawy said that cement producers are using the shortage of natural gas as an excuse to increase prices. Natural g... |
Indian producers move forward with cartel appeal02 November 2012, Published under Cement NewsEleven Indian cement producers fined by the Competition Commission of India (CCI) for cartel practices, yesterday approached the Competition Appellate Tribunal (COMPAT) to challenge the findings announced earlier this year. A notice has now been issued to the CCI and the matter is listed for the next hearing on 22 November. ? The three-member COMPAT bench, headed by chairman Justice VS Sirpurkar did, however, request that now coercive action is taken against Shree Cement which was issued a ... |
Eagle Material reports second quarter rise in earnings, USA30 October 2012, Published under Cement NewsEagle Materials has reported continued growth in sales volumes and earnings in the second quarter as revenues rise 22 per cent to US$164.7m. Second quarter sales volumes improved across all major business lines and wallboard net sales prices increased 30 per cent as compared to the prior year's second quarter. Improved second quarter operating cash flow was used to fund capital expenditures, pay dividends and reduce debt which further strengthened our financial position. Eagle ended the qua... |
Jiangxi Wannianging Cement profit declines, China30 October 2012, Published under Cement NewsJiangxi Wannianging Cement has posted an 82.33 per cent drop in net profit for the first nine months of 2012 on the back of lower sales volumes and prices. For the nine months to September, net profit was CNY74.12m (US$11.9m) while operating revenues fell 22.44 per cent YoY to CNY3.19bn. For the third quarter alone, operating revenue fell 23 per cent YoY to CNY1.183bn while net profit plunged 86.77 per cent to CNY16.24m. The company attributed the decline in profits to a drop in sales ... |
Indian cement prices rise30 October 2012, Published under Cement NewsA positive cement pricing trend which started in September has continued into October across most of India. The national average price of cement in October stood at INR299/50kg bag, representing a 1.7 MoM rise. A disciplined pricing approach by cement producers has helped drive prices upward. An increase in prices in the southeastern state of Andhra Pradesh has been most welcome as the area has not been so profitable in recent times for cement producers active in that area. Furthermore... |
Asia Cement profit falls, China29 October 2012, Published under Cement NewsAsia Cement (China) said that revenue for the first nine months of 2012 was CNY4.73bn (US$757m), a decline of 19.83 per cent from a year earlier. Gross profit declined 58.5 per cent to CNY696m and gross profit margins fell 15 per cent, down by 13 percentage points compared to the same period of last year. Net profit attributable to shareholders fell 84.8 per cent YoY to CNY147m for the first nine months of the year. Its basic and diluted earnings per share were CNY9.4 cents. |
JP Morgan expects improved China pricing environment29 October 2012, Published under Cement NewsJP Morgan has raised its target price for BBMG Corp to HK$6.5 from HK$5.5 and maintained its “neutral” rating and sees improved trading conditions in the second half of 2012. It said that the Chinese company’s nine month results were in line with expectations with the weakness due to sluggish demand and a tough pricing environment throughout the industry. JP Morgan expects the pricing in the second half of 2012 will be better as new capacities coming on line will be lower and the rece... |
Anhui Conch earnings outlook raised, China26 October 2012, Published under Cement NewsDespite Anhui Conch posting a 67 per cent YoY decline in third quarter net profit, Credit Suisse and Citigroup see an improved outlook for the Chinese cement major. Credit Suisse said that Conch’s results "were solid in the context of a very difficult quarter for the industry”. The house estimates unit gross profit to average at CNY80/t in 4Q12, leading to a potential net profit of CNY2.4bn. "We believe consensus downgrades have come to an end at this point, and estimate that the market is... |