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Credit Suisse lowers China Shanshui Cement target price

22 March 2013, Published under Cement News

Credit Suisse lowered its target price for China Shanshui Cement to HK$4.2 from HK$5.5, and maintained its "neutral" call. The house expects unit gross profit to soften in 2013 to CNY65/t due to moderate supply pressure in Shandong, combined with depressed margins in Shanxi and Xinjiang (13 per cent of 2013 sales). Credit Suisse said its recent visit to Shandong also suggests 2Q2013 construction demandmay disappoint versus expectations. The house slightly reduced its 2013 earnings by three...

Lafarge to reopen revamped Danao plant, Philippines

21 March 2013, Published under Cement News

Lafarge Republic is to reopen its facility in Dano, Cebu, in the Philippines as part of the company’s drive to raise output due to increasing domestic sales. “The revamped plant in Danao City is one of several capacity expansion projects being undertaken by LRI to respond to the growing demand for building materials and the order backlog of construction projects of the leading construction companies.” Lafarge Republic said in a disclosure to the Philippine Stock Exchange. The plant wil...

Iran reports strong export gains in first 11 months

21 March 2013, Published under Cement News

Cementitious exports from Iran have risen by 35 per cent in value terms during the first 11 months of the current Iranian calendar (beginning 20 March 2012), to reach a total of US$822m. Exports totaled 10.4Mt, a rise of 27 per cent YoY, according to reports by Trend News Agency. Export destinations include some 24 countries including Iraq, Azerbaijan and Turkmenistan. Iran’s cement output is expected to reach 75Mta by the end of the current Iranian year, with plans to lift this volum...

Spain's February consumption down 25%

20 March 2013, Published under Cement News

The downward trend in Spanish cement demand shows no signs of abating as cement consumption in fell 25 per cent in February, the latest data by domestic association Oficemen shows. Consumption last month fell to 863,950t some 289,000t less than in February 2012 when it was 1.152Mt. Over the first two months of 2013, accumulated demand was 1.757Mt, some 23.3 per cent less than the same period last year (2.29Mt) Production in February was 988,296t, a YoY decline of 23.7 per cent from ...

Calls for a review of Vietnam's cement industry master plan

20 March 2013, Published under Cement News

Vietnam’s Building Materials Association has used the Ministry of Construction (MoC) to adjust the master plan for the cement industry for the 2011-20 period and has suggested a series of measures to ease the current surplus situation. The move follows a rising inventory following increases in capacity and lower domestic demand. Current inventory is estimated to reach 25Mt by 2015 and 40Mt by 2020. The association has therefore proposed the government halt nine small cement projects and r...

Cimpor's restructuring gives temporary lower numbers

19 March 2013, Published under Cement News

Cimpor's turnover from continuing activities declined by an underlying 3.1 per cent to EUR1510m and compares with the actual EUR2275.3m shown in 2011 on the old structure.  The comparable EBITDA eased by 3.3 per cent to EUR464.7m and compares with an actual EUR616.0m.  The trading profit came off by 4.8 per cent from EUR321.2m to EUR305.8m, whereas a year ago EUR372.8m was shown. Net financial charge which a year earlier had amounted to EUR80.9m was re-defined as EUR46.8m and almost tr...

USA January shipments rise 5.2% YoY

18 March 2013, Published under Cement News

Cement shipments in the USA and Puerto Rico for January were up by 5.2 per cent than the same month of last year, the latest preliminary data from the US Geological Survey (USGS) shows. January 2013’s increase occurred despite being slightly colder and significantly wetter than January 2012, highlighted analysts at Jefferies International. Morevover, shipments have now increased in 30 of the last 35 months, it pointed out. Total shipments for Portland and blended cement in January 2013...

Lafarge Zimbabwe to reduce foreign shareholding

18 March 2013, Published under Cement News

Lafarge and the Zimbabwe government have agreed on Lafarge reducing its shareholding in the Zimbabwean cement manufacturer to 49 per cent. “We have agreed with the relevant authorities on the indigenisation modalities to bring down foreign shareholding to 49 per cent, in line with the indigenisation and economic empowerment [policy]. To this effect, our indigenisation plan was approved,” according to Muchadeyi Masunda, the chairman of Lafarge Cement Zimbabwe told local press. Last year...

Vicem cement sales rise 30% in Jan-Feb

15 March 2013, Published under Cement News

Vietnam Cement Industry Corp (Vicem) has reported a rise in overall cement and clinker sales for the first two months of the year but export volumes declined. The country’s largest cement group sold 2.88Mt of cement and clinker in the first two months of the year, up by 30 per cent from a year earlier. Some 2.85Mt of cement and clinker was sold on the domestic market, a 44.5 per cent YoY rise, while 24,000t of cement was exported which was a decline of 36.8 per cent on the previous yea...

Argentine February shipments decline

14 March 2013, Published under Cement News

Argentine cement plants shipped 839,223t, including exports, representing a decline of 7.1 per cent on February last year, according to the latest data published by association AFCP. On a month-on-month (MoM) basis, the February figure was 8.1 per cent less than the amount shipped in January. However, domestic sales, including imports reached 809,280t, an increase of six per cent YoY but a decline of 8.9 per cent MoM.