Cement News tagged under: Pricing
Anhui Conch net profit hit by weaker prices, China25 March 2013, Published under Cement NewsAnhui Conch reported a 45.6 per cent in net profit for 2012 due to weaker average selling prices. The company reported net profit of CNY6.31bn (US$1bn) last year as average prices slipped to CNY245/t from CNY308/t a year ago. Operating revenue dropped 6.41 per cent per cent YoY to CNY45.06bn in 2012. The company sold 187Mt of clinker and cement last year, reflecting a growth of 18.33 per cent YoY. Conch added 20.8Mta of clinker production capacity and 28.3Mta of cement production capa... |
Pakistan exports rise 24% YoY in value25 March 2013, Published under Cement NewsPakistan has reported flat growth in export sales in terms of volume for the first eight months of fiscal 2012-13, but a strong advance has been reported in terms of value thanks to improvements in the price per tonne of cement. During the July 2012 – Feb 2013 period, Pakistan exported 5.59Mt of cement with a value of US$376.85m compared to 5.589Mt at US$303.71m in the same period of last year. This represents a growth in volumes of 0.03 per cent but a rise in dollar value of 24.08 per ce... |
Credit Suisse lowers China Shanshui Cement target price22 March 2013, Published under Cement NewsCredit Suisse lowered its target price for China Shanshui Cement to HK$4.2 from HK$5.5, and maintained its "neutral" call. The house expects unit gross profit to soften in 2013 to CNY65/t due to moderate supply pressure in Shandong, combined with depressed margins in Shanxi and Xinjiang (13 per cent of 2013 sales). Credit Suisse said its recent visit to Shandong also suggests 2Q2013 construction demandmay disappoint versus expectations. The house slightly reduced its 2013 earnings by three... |
Moody’s: West China Cement investment slowdown ‘positive sign’21 March 2013, Published under Cement NewsWest China Cement’s (WCC) slowdown in investments is also a positive, according to Moody's analyst, Jiming Zou, lead analyst for WCC. WCC's shift from an aggressive expansion strategy to more prudent financial management follows the need to stabilise its capital structure, Moody’s highlighted in a statement. "This approach is necessary as it will need to refinance offshore debt in January 2016. It also reflects less pressure on WCC to increase market share, given a stabilising competitive ... |
Burundi Cement Co doubles production, eyes capacity expansion19 March 2013, Published under Cement NewsBurundi Cement Co (BUCECO), the central African country’s sole supplier, has doubled production and profits in its first two years of operation and is considering doubling capacity, the company has said in a statement. BUCECO, which began production in January 2011 produced 70,500t of cement in 2012 compared to 34,500t the year before. Profits have risen from BIF12.9m (US$10m) in 2011 to BIF31.4m (US$22m) last year. The company’s founder and owner Tribert Rujugiro Ayabatwa said that th... |
COMPAT reserves order on cement firms appeal, India19 March 2013, Published under Cement NewsIndia’s Competition Appellate Tribunal (COMPAT) has reserved its order over a batch of appeals filed by cement producers contesting the INR63.07bn (US$1.1bn) penalty imposed by the Competition Commission of India for cartel practices. According to Press Trust of India, a COMPAT bench reserved its order after hearing the submissions. The CCI had found "cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anti-competitive agreements including ... |
Egypt's Shura Council suggests fixed pricing15 March 2013, Published under Cement NewsFollowing mounting concerns over recent rises in domestic cement prices, Egypt's Shura Council housing committee (upper house of parliament) has suggested imposing mandatory pricing on local cement companies. “Egyptian Competition Authority will be tasked with setting the price if the government approves the Shura Council's recommendation," Atef Yacub, the head of Egypt's Consumer Protection Agency (CPA), told Ahramonline. Cement prices have risen by about EGP200 (US$29) and is curre... |
HeidelbergCement reduces debt, profit edges ahead14 March 2013, Published under Cement NewsGerman cement major HeidelbergCement reported increases in revenue and operating income in 2012 as well as a significant reduction in net debt. Revenue for the 12 months to December 2012 improved by nine per cent to EUR14bn. Operating income climbed nine percent to EUR1.613bn, benefiting from price increases, exchange rate effects and the successful implementation of the "FOX 2013" savings programme. Operating income before depreciation or OIBD increased seven per cent to EUR2.48bn. Pr... |
COMPAT hearing set to resume, India13 March 2013, Published under Cement NewsThe Competition Appellate Tribunal (COMPAT) hearing is to resume today over petitions filed by cement companies over the INR63.07bn (US$1.1bn) penalty imposed by the Competition Commission of India (CC) on grounds of price collusion. The Press Trust of India reported that a COMPAT bench headed by it Chairman, Justice V S Sirpurkar would start its hearing on March 13 adjourned on 4 March. CCI had found "cement manufacturers in violation of the provisions of the Competition Act 2002 which... |
Credit Suisse expects improved Indian pricing environment12 March 2013, Published under Cement NewsThe Indian cement sector could see an uptick in cement prices in the first quarter of fiscal 2014 with the biggest improvements expected to be in the north, a report on the sector by Credit Suisse has said. "Cement prices may increase in seasonally strong quarters. Demand pick-up in seasonally strong quarters of March and June should drive accretive price increases for the sector," Credit Suisse said in its research report. In terms of price improvements by region, the investment bank ... |