Cement News tagged under: pricing

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India cartel ruling expected in 15 days

12 April 2012, Published under Cement News

India’s Competition Commission said it will be at least 15 days before it issues its final report on an alleged cartel by 39 cement companies. "There will be 2-3 meetings of the members. So far, there had been no sittings. It will take at least 15 days for us to prepare the final report," a senior CCI member told PTI. CCI is probing an alleged cement cartel on various fronts including selling prices and the creation of artificial shortages by producing less than capacity.

Cartel ruling expected shortly, India

11 April 2012, Published under Cement News

A ruling by the Competition Commission of India (CCI) on an alleged cartel by cement companies is expected imminently, with a negative verdict likely to negatively affect profits and pricing power, according to sources. “Rumours of penalties of cement companies by CCI has been doing the rounds time and again,” said Vivek Mahajan, head of research at Aditya Birla Money. Brokerage Macquarie said in a March-end report said it expects penalties of about seven per cent of total revenue (las...

Pakistan prices see further rises

10 April 2012, Published under Cement News

Cement producers in the Sindh and Balochistan regions have increased cement prices by PKR10/bag – the second increase in just over two weeks, according to reports by local press. Cement prices were hiked by PKR10-15/50kg bag on 26 March citing a rising demand in the summer as a reason. This followed a January 2012 rise, where prices increased by PKR2.5/bag. Analysts said repeated hikes in cement prices would affect construction activities as the construction cost of many projects would...

Oman forecast to see increased exports

09 April 2012, Published under Cement News

Oman is expected to witness increasing exports this year thanks to demand from markets like Yemen and East Africa, a new research report has forecast. Raysut Cement is expected to be a major beneficiary as exports accounted for 32 per cent of sales in 2011, states the report by EFG Hermes. Domestic cement consumption, meanwhile, is expected to rise by seven per cent during the current year to 6Mta with local production being able to meet demand. Domestic production this year is estimated ...

Bihar cement prices rise as supplies fall, India

09 April 2012, Published under Cement News

Cement prices in the Indian state of Bihar have risen by almost 50 per cent due to increased construction activity and the temporary shutdown of a nearby Prism Cement unit, the Economic Times of India reports. Bihar, situated in eastern India, has no major cement production facilities and relies on cement from plants located in Satna, MP, where prices have been rising due to heightened building activity. Compounding the issue is the shutdown of Prism Cement’s Satna unit which satisfies a ...

Derba Midroc announces second-round of price cuts, Ethiopia

04 April 2012, Published under Cement News

Newcomer to the Ethiopian cement sector Derba Midroc will announce another round of price cuts on wholesale cement, intensifying the price war on the local market. The 7500tpd Derba Midroc cement works was inaugurated in February this year, and is one of seven cement projects scheduled to come on-stream in the January-May period of 2012, according to Ministry of Industry data. Derba Midroc’s managers claim that they cutting prices to spur demand in a market that is currently facing a d...

Improving prices forecast to raise margins, Pakistan

03 April 2012, Published under Cement News

Pakistan cement industry is forecasted to earn good margins during the last quarter of the current fiscal as cement prices increase on rising sales volumes.   According to a report by InvestCap, local cement manufacturer and exporter firm Fauji Cement (whose capacity has been increased by commissioning of a new 7200tpd plant in 1HFY12) would be the main beneficiary of an increase in prices followed by Lucky Cement, DG Khan Cement and others. The report noted that cement prices are on th...

Changes to Philippine prices

29 March 2012, Published under Cement News

Local cement producers, including global majors Cemex and Lafarge, have raised prices in the Philippines by PHP5/40kg bag due to rising fuel prices and the beginning of the peak construction season. Trade and Industry undersecretary for consumer welfare Zenaida C Maglaya said that based on last Friday's Price Monitoring report, prices of two brands of cement ' Republic (Lafarge) and Rizal (Cemex) increased by PHP5 from PHP200 to PHP205/bag now. However, the price of Holcim Philippines Inc...

Indonesia cement price rise on the cards

28 March 2012, Published under Cement News

Indonesian cement producer, PT Semen Gresik is considering increase cement prices along with other local producers to offset planned fuel and electricity costs.  The government’s plan to raise the subsidized fuel price to IDR6000/litre as of April from the current IDR4500, coupled with a possible increase in electricity tariffs by 10 per cent, have been widely expected to boost prices across the board, increasing  production and distribution costs. State-owned Semen Gresik’s President ...

GCC's 2011 revenues up 14.2% YoY

26 March 2012, Published under Cement News

Revenues of GCC cement companies increased to US$4.6bn in 2011 from US$4bn in the previous year, a 14.2 per cent rise, a report by Global Investment House (GIH) said. Net profits, however, increased just two per cent from US$1.44bn in 2010 to US$1.477bn in 2011. In terms of performance by country, Saudi Arabia, Oman, UAE and Kuwait reported an increase sales during  2011, while Qatar saw a decline, the report said. The UAE which witnessed decline in sales revenue since 2008, enjoyed a 5....