Cement News tagged under: Pricing
Steppe Cement posts first half loss, Kazakhstan11 September 2012, Published under Cement NewsKazakhstan-based cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$0.1m for the six months ended 30 June 2012. Revenue six months ended June 30 were US$52.16m (2011: $43.06m) while pretax profit was US$391,000 (2011 loss: US$2.84m). The company’s sales volumes increased by two per cent to 615,838t and the average sales price increased from USD72/t to USD86/t during the period. Production costs per tonne increased by 11 per cent in US dollar terms. The hike was... |
Indian producers appeal fine, India11 September 2012, Published under Cement NewsA total of 10 out of 11 Indian cement companies fined in June for cartel practices have approached the Competition Appellate Tribunal to contest the ruling. Sources said the companies had approached the tribunal last week and the matter is due for hearing on 13 September. In June, the Competition Commission of India had imposed a penalty of INR6,307 crore (US$1.1bn) on 11 cement companies for price fixing. The major companies on which penalty was imposed included ACC Ltd, Ambuja Cement... |
Competition mounts for East Africa market share07 September 2012, Published under Cement NewsPublic sector infrastructure projects and the rapidly growing middle class in the East Africa region will be the main drivers of cement consumption as competition is set to intensify with the arrival of new market entrants. S peaking to AllAfrica press, Kephar Tande, chairman of the East African Cement Producers Association, said Friday that the ongoing regional trade integration and an expected surge in housing demand will be the new battlefront for market share as new players enter the ma... |
GCC profits rise 27.1 per cent in 1H1206 September 2012, Published under Cement NewsProfits of the Gulf Cooperation Council (GCC) cement sector increased 27.1 per cent YoY in the first half of 2012 to US$971.5m from US$764m in the same period of 2011, the latest report from Global Investment House (GIH) shows. According to the report, the GCC cement sector grew 17 per cent in the first six months of the year mainly due to a huge pipeline of projects in Saudi Arabia helping to generate significant demand. Oman was in second place with growth of 13.8 per cent while Qatar a... |
Lafarge Malayan Cement expects robust 2H12 demand05 September 2012, Published under Cement NewsAt Lafarge Malayan Cement’s analysts 2Q12 briefing held on Monday, the company said it expects the robust cement demand seen in the first half to continue in the second half. The company expects the healthy demand scenario to be driven by the implementation of large infrastructure projects such as the new LCCT terminal and coal power plants. Group utilisation rates remain high at 85-90 per cent, enabling management to cut back on cement exports in favour of serving the domestic market.... |
S&P lowers West China Cement corporate rating, China04 September 2012, Published under Cement NewsStandard & Poor's Ratings Services lowered its long-term corporate credit rating on West China Cement Ltd. (WCC) to 'B+' from 'BB-'. The outlook is negative. The research house also lowered the issue rating on the China-based cement manufacturer's senior unsecured notes to 'B+' from 'BB-'. S&P said in a statement: “We lowered the rating to reflect our view of WCC's weakened liquidity position, given the company's low cash balance and high short-term debt. WCC's cash balance fell to CNY173m... |
Indian cement capacity seen reaching 349.6Mt in FY1304 September 2012, Published under Cement NewsIndian cement production capacity is expected to rise to 349.6Mt in the current fiscal year (FY13) from 336.1Mt reached in the last fiscal. "The projected demand and capacity to be created during 2012-13 are 265.4Mt and 349.6Mt, respectively," Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to Parliament According to the report of the working group on cement industry for the 12th Five Year Plan, the installed capacity of cement production during... |
China Shanshui Cement first-half net profit falls 41 per cent28 August 2012, Published under Cement NewsChina Shanshui Cement has reported a net profit of CNY728m (US$114m) for the first half of 2012, representing a decline of 41 per cent YoY on the back of a slowing demand. In the period its operating revenue slid 5.8 per cent YoY to CNY7.38bn, with basic earnings per share of CNY0.26. Zhang Bin, Vice Chairman and General Manager of Shanshui Cement, said: “In the first half of 2012, affected by a contraction in China’s macro economy and slowdown in fixed asset investment, industry demand sl... |
India: builders protest against high cement prices23 August 2012, Published under Cement NewsIn a statewide protest organised by the Builders’ Association of India, builders in Coimbatore voiced their opinions on a protest rally on Tuesday, demanding measures by the state government to bring down cement prices and calling for a regulatory cement authority to be formed at the national level. Cement prices are INR330 (US$5.98)/bag now as against INR275/bag six months ago. Though the Tamil Nadu Cements Corporation was supplying cement at INR 260/bag even now, the cement companies ha... |
Indian prices seen declining17 August 2012, Published under Cement NewsCement prices in July have declined in most Indian states. A drop has been recorded in Andhra Pradesh where a 50kg bag of cement was down by about INR20-25, meanwhile in Hyderabad, prices have gone from INR320-330 in the Rayalseema districts to INR27-275 in the last week. Even in the states of Karnataka, Maharashtra and Tamil Nadu, prices have seen a comparative fall of INR15-20. According to local press, there has been a sudden excess capacity created in the market with the launch of new... |