Cement News tagged under: pricing

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Indian producers issued with record fine on price fixing

21 June 2012, Published under Cement News

Eleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim...

China prices continue to fall

21 June 2012, Published under Cement News

The average price of cement across China last week fell 0.83% to CNY336.25/t compared to the previous week. Cement prices have been falling since the end of April registering price adjustments of CN10-50/t mainly in Beijing, Hebei and Anhui. According to industry portal Digital Cement, the price of cement in Beijing and Hebei continued to fall last week by CNY20-50/t and the price in Beijing has dropped CNY120/t since the beginning of May.??It has also been reported that a number of prod...

Indian producers face alleged cartel fines

20 June 2012, Published under Cement News

The Competition Commission of India (CCI) is expected to soon impose fines over alleged price collusion in the industry. According to local press reports, the CCI is expected to fine 11 large cement manufacturers approximately INR3000crore for being guilty of a price cartel. Business Standard of India quoted an unnamed source as saying: "The Competition Commission of India has found 11 cement firms guilty of cartelisation. The penalty of eight per cent of their three years' average turn...

UAE cement prices drop 3.4% in May

14 June 2012, Published under Cement News

The average prices of several building materials groups have undergone changes during May 2012, compared with April 2012, a monthly report by the Statistics Centre Abu Dhabi (SCAD) revealed. The average prices of cement dropped by 3.4 per cent, due mainly to decreases in the price of Portland cement per tonne by 11.3 per cent and SRC by 5.9 per cent. The next largest fall was in the average price of aggregates and sand which decreased by 3.2 per cent.

China prices continue to fall

13 June 2012, Published under Cement News

The average price of cement across China last week fell 0.83 percent week-on-week to CNY336.25/t, reports Shanghai Securities News. According to the report, the price of cement has been falling for several weeks since the end of April.  Price adjustments of CNY10-50/t mainly occurred in Beijing, Hebei and Anhui.

Credit Suisse maintains negative outlook for large Indian cement companies

06 June 2012, Published under Cement News

Credit Suisse maintains negative outlook for large-cap cement stocks, due to expensive valuations and low growth prospects, the Economic Times of India reports. Cement prices in May declined by 2-6 per cent across regions in India, which is an unseasonal trend, Credit Suisse said. ??Demand was also cited to be weak, which is however, contrary to the double digit volume growth posted by Ultratech Cement and Ambuja Cement in May. Any adverse ruling by monopoly regulator on cartelisation c...

Indian producers consider early price reduction on monsoon

06 June 2012, Published under Cement News

Indian cement companies are considering a reduction of INR8-10/bag later this month  in anticipation of a slowdown in construction activities due to the arrival of monsoon season. The price correction during monsoon is seasonal but this year it has come little earlier due to subdued demand, writes Realty Plus.  "The price correction has started from the month of May and this month cement companies are contemplating to reduce prices on an average of INR10/50kg across the country," said the ...

Caribbean Cement Company price hiked 9.2%

01 June 2012, Published under Cement News

Caribbean Cement Company Limited has increased the price of bagged cement by 9.2 per cent, according to reports in the Jamaican Gleaner. Effective today, June 1, the ex-factory price of Carib Cement Plus will be increased from J$705 to J$761.91. The new price is inclusive of the new 16.5 per cent GCT rate. In a statement to the Jamaica Stock Exchange yesterday, Caribbean Cement advised shareholders that the rebound in sales seen towards the end of last year has not been maintained and the ...

Philippine cement prices edge towards peak levels

31 May 2012, Published under Cement News

Philippine cement prices are edging up to highs last seen in 2010 of PHP215-220/40kg bag due to higher input costs and increasing demand. Data from the Philippine Department of Trade and Industry showed that the price of cement is PHP205/40kg bag for the Republic and Rizal brands, higher than the PHP185-190 price range in May 2011. “We have managed to increase prices but current level is still lower by 3-5 per cent compared to 2010 suggested retail price due to high input costs and in...

Northern Pakistan prices decline

30 May 2012, Published under Cement News

Pakistan cement prices have registered a decline of PKR20/bag during May to PKR415-420/bag from PKR435-440/bag due to the start of wheat harvesting, which created a  temporary shortage of labour for the construction industry, sources said on Tuesday. It is traditional for construction activity to slow in April and remain under pressure in the Punjab and and Khyber-Pakhtoonkhwa (KPK) until August. Daily dispatches have reduced to 60,000t from around 80,000t, one north-based cement produce...