CMS raises cement price due to higher costs

Malaysia-based CMS is introducing a 10 per cent price hike from 17 February, the first one since 2016, according to Market Screener.

The company attributes the need to raise prices to significant and sustained increase raw materials, packaging and freight costs. In the last year, cement production costs have increased by nine per cent and show no signs of abating yet. The Baltic Dry Index has shown a rate rise of 64 per cent in 2021 while the sack kraft paper index was up 33 per cent in the same year.

CMS also plans to further expand its range of environmentally friendly cement products. In 2019 it launched Portland limestone cement while in the second half of this year it will be launching Portland composite cement.