Cement News tagged under: cement prices
India: Assam property developers concerned over cement price rise24 August 2016, Published under Cement NewsThe Assam Real Estate and Infrastructure Developers Association (Areida) has said that a proposed rise in cement prices is “unreasonable”, the Times of India reports. Following intervention by Assam’s Chief Minister, Sarbanada Sonowal, the cement companies elected not to go through with the price increase. Despite this, Areida has said that it will still approach the Competition Commission of India (CCI) with its concerns. Areida President, PK Sharma, said: "The price of cement in Assa... |
Philippines: consumers complain over quality and prices28 July 2016, Published under Cement NewsThe National Consumer Affairs Council (NCAC) has called on the Department for Trade and Industry (DTI) to take action on complaints about substandard cement entering the market, the Philippine Daily Inquirer reports. Chair of the NCAC, Jose Pepito, said: “This complaint has been there for a long time, so I’m wondering why nothing has been done about it,” he said in an interview with the Inquirer. “Many consumers may not be aware of the problem because they are not technically knowledgeabl... |
India: fresh calls for Kerala to control rising cement prices25 July 2016, Published under Cement NewsThe price of cement in Kerala – which has reached up to INR430/bag (US$6.40) – has again provoked calls for the state government to intervene, reports the Hindu. The newspaper quotes a cement dealer in Kochi who claims that cement prices in Kerala are INR200 higher than in other parts of India. While companies had not raised prices, they have stopped offering discounts to dealers, the Hindu’s source told the newspaper. “The cement companies have stopped providing the benefits that were... |
Sri Lanka: Tokyo Cement Company calls for end to price controls15 July 2016, Published under Cement NewsTokyo Cement, the largest cement producer in Sri Lanka, has called on the government to end controls and allow the market to set prices, Colombo’s Daily Mirror reports. In 2015 the government introduced a price ceiling of LKR870 (US$6.00) for a 50kg bag of cement, at a time when local prices were LKR930-940. Since last year the Sri Lankan rupee has depreciated in value, raising the cost of clinker imports and raising costs further down the supply chain. Managing director of Tokyo Ce... |
India: Kerala businesses protest high cement prices15 July 2016, Published under Cement NewsThe Government Contractors Association (GCA) in Kerala has hit out at the state government’s failure to control cement prices, which have reached INR430 (US$6.40) for a 50kg bag, the Deccan Chronicle reports. The head of the GCA in Kerala, Varghese Kannampally, noted that production costs for a bag of cement are about INR70 (US$1.04). Mr Kannampally observed that in neighbouring Tamil Nadu, the state government had reached an agreement with producers to supply agreed quantities of cement ... |
Nigeria: cement prices increase12 July 2016, Published under Cement NewsAccording to The Guardian Nigeria market research, there has been a fluctuating increase in cement prices since May 2016. Previously prices had been reduced by Dangote Cement Plc, the leading producer of cement in the country, with prices dropping from approximately NGN2000 (US$7.08) to NGN1000-1400 (US$3.54-4.96) per 50kg bag. However, bags of cement sell now at up to NGN2000 across all brands. This return to high prices has slowed housing construction, real estate activities and has inc... |
India: Delhi real estate developers to boycott Shree Cement08 July 2016, Published under Cement NewsThe Confederation of Real Estate Developers' Associations of India’s (CREDAI’s) regional representatives in Delhi have announced that they will boycott Shree Cement, according to reports in the Times of India. CREDAI accuses the cement producer of pushing up prices and creating artificial scarcity. It intends to file a complaint with the Competition Commission of India (CCI). A CREDAI spokesperson said: "Shree Cement is arbitrarily increasing prices and stopping supply in between, dema... |
Nigeria: producers hit by falling prices now face naira devaluation09 June 2016, Published under Cement NewsThe devaluation of the naira – agreed in principle by the Central Bank of Nigeria in May – will hit Nigerian producers’ revenues, Bernstein warns. The decision to revalue marks a reversal of course by the government, which had for some time faced calls to allow the currency to depreciate. Bernstein’s analysis focusses mainly on the implications for LafargeHolcim as the only major with a significant presence in Nigeria. It concludes that the company – already facing pressure from a 20 per ... |
Cameroon: Government hopes Mintom quarry will bring down cement prices08 June 2016, Published under Cement NewsThe government of Cameroon has called on investors to help develop the Mintom limestone deposit, located in the country’s southeast, in the hope that this would lead to lower cement prices. According to Business in Cameroon, the Director of the Institute of Geological and Mining Research told business leaders last week that a quarrying operation in Mintom would lead to a fall in cement prices on the order of 50 per cent. Before 2015 Cameroon had only one cement producer, Cimenteries du... |
India: JK Cement annual profits down 35.3%31 May 2016, Published under Cement NewsThe Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slightly YoY at INR705.6m (US$10.5m). Like most Indian producers, JK Cement’s performance appears to have suffered from negative pricing pressures. Revenues were up for both the year and the final quarter, implying higher volumes than for 2014-15, but despite this profits suffered. ... |