Cement News tagged under: pricing

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Optimism returns to US and wider markets

18 December 2015, Published under Cement News

This week saw the first rise in US interest rates in seven years as the US Federal Reserve signalled its belief that the economy was getting back on its feet and that the financial recovery was gaining momentum. The renewed optimism for the US economy and the prospects for greater cement consumption in the coming year is based on a more vigorous uptake of construction and housing projects. The strength of the recovery is far from certain though and financial markets will need to see contin...

US cement prices to see 8% growth in 2015

17 December 2015, Published under Cement News

Following the Great Recession when US cement prices contracted for five years, they appear to be back in the lift. In 2013-14 domestic prices increased  by five per cent YoY. In 2015, the rise is accelerating to eight per cent, according to analysts at IHS. The last time growth approached these levels was in 2005-06, when the price of cement advanced by 13 per cent. The reactivation of idled kilns, which is leading to expensive upgrades to comply with the latest NESHAP emissions rules, ...

CMA consults on cement price announcement order

16 December 2015, Published under Cement News

The Competition and Markets Authority (CMA) has said it is consulting on a further draft order to prohibit Great Britain cement suppliers from sending price announcement letters to their customers. The CMA consulted on the proposed order in September and following changes made as a result of responses received to the first consultation, is now consulting on an amended version. The order sets out that GB cement suppliers will be prohibited from sending generic price announcement letters...

BofAML forecasts 2H16 oil price recovery; downside risks prevail as OPEC meeting ends in acrimony

14 December 2015, Published under Cement News

Brent crude oil prices are expected see a recovery in the second half of next year, leading to average price of US$50/bbl in 2016, according to Bank of America Merrill Lynch (BofAML). However, the "deep sense of acrimony" that emerged from last Friday's OPEC meeting creates downside risks to BofAML's 2016 pricing assumptions, it cautions. BofAML highlighted that its expectations for next year "embed rational economic behaviour." The forecasts include relatively robust global oil demand grow...

Competition Appellate Tribunal sets aside penalty on 11 cement companies

14 December 2015, Published under Cement News

The Competition Appellate Tribunal of India has set aside a US$945m penalty imposed on 11 cement firms by the Competition Commission of India (CCI) on accusations of cartel behaviour and asked the fair trade regulator to hear the matter afresh. The Tribunal also allowed the cement manufacturers to withdraw the 10 per cent penalty amount already deposited with the CCI, according to local press reports. The judgement follows appeals filed by the cement firms and their industry body, th...

Cemex planning another price rise in Mexico

09 December 2015, Published under Cement News

Cemex plans to increase prices for bulk cement in Mexico starting January 2016, according to local media. Reforma reported that a letter was sent by Cemex to its customers in November to inform them of the pending hike. JP Morgan has noted that Cemex had raised prices by 21 per cent over FY-2015 which resulted in a decline in the company’s market share as peers had raised prices to a much lower extent. In the research house's view, this is likely to result in continued volume improvement ...

Malaysia: CMS Cement to raise prices

09 December 2015, Published under Cement News

CMS Cement Sdn Bhd, a subsidiary of Cahya Mata Sarawak Bhd, announced that it will raise its cement  price by an average of 4.6 per cent, effective 1 January 2016, due to the depreciation of the ringgit. In a statement issued on Tuesday, CMS said it will increase the prices to maintain the quality of its cement manufacturing and supply businesses, among others. It added that the sustained depreciation of the ringgit since January 2015 had created an unprecedented increase in the cost ...

SCG anticipates challenging 2016 start

02 December 2015, Published under Cement News

Next year is expected be challenging for Siam Cement Group’s Cement and Building Materials, as the domestic market is facing the threat of new supply, according to management. Bualuang Securities hosted the SCG Dinner Talk on Friday, the key speakers of which were SCC's next CEO, Roongrote Rangsiyopash (effective January 2016), and CFO, Chaovalit Ekabut. During the event, management said domestic demand for cement in 1H16 is not expected to grow strongly enough to absorb new supply from T...

Italy: price fixing probe opened

27 November 2015, Published under Cement News

Italy's antitrust authority has opened a probe into four cement makers for alleged price fixing, it said in a statement on Thursday. The companies under investigation include Buzzi Unicem, Cementir Italia, Industria Cementi Giovanni Rossi and Holcim Italia, the watchdog said. The authority said it had carried out inspections in the offices of the four firms on 25-26 November. "The case concerns the possibility of an agreement ... to coordinate cement sales price increases," it added. ...

India: waiting for the party

23 November 2015, Published under Cement News

More than a year after the electoral victory of the Bhartiya Janata Party (BJP), expectations for higher cement demand growth rates still have not been met. Growth in the current fiscal year is forecast to be on a par with last year, but the latest data indicate signs of a positive change together with an expected uptake in the much-anticipated government infrastructure spend. Will India’s new, BJP-led government deliver on promises of better times ahead? So far this decade, Ind...