Cement News tagged under: Trading
Japan cement firms halt exports to Korea31 October 2008, Published under Cement NewsThe Nihon Keizai Shimbun says Japanese cement companies are planning on halting exports to Korea to increase export profitability. The Japanese daily said that Ube-Mitsubishi Cement Corporation will stop exporting cement to Korea and Malaysia starting in April and will instead concentrate on dealing with the Australian market, where demand is steady. The paper said that Sumitomo Osaka Cement will also review their exports to Korea, explaining that the export strategies of Japanese companie... |
Baltic Dry Index falls below 1,000 points to six-year lows29 October 2008, Published under Cement NewsThe Baltic Dry Index is now trading below 1000 points. Yesterday marked one more downward session for the freefalling index, tracking dry bulk shipments of commodities like iron ore and coal. The continuous slump has seen the index dropping to 982 points, from an all-time high of 11,793 points last May, reports Hellenic Shipping News. The halt in dry bulk trade is the aftermath of the financial and credit crisis which hit the world markets from the middle of September. Banks are hesitant in... |
Philippine government keen on removing tariff on imported cement20 October 2008, Published under Cement NewsThe Philippine government will proceed with the elimination of tariff on imported cement even if the domestic manufacturers would succeed in convincing the Department of Trade and Industry (DTI) that their recent P10 to P15 price adjustments are fair, reports the Business Mirror. Trade Undersecretary Zenaida Maglaya said the only way the local cement makers can stop the tariff abolition is if they will bring down their prices to levels that will be acceptable to the DTI. Maglaya said the te... |
Lafarge to stop importing cement next year, Indonesia15 October 2008, Published under Cement NewsLafarge Cement, a French cement producer controlling a 99% stake in PT Semen Andalas Indonesia, is going to stop importing 1.1Mta of cement starting from 2009. The company decides to stop import following the completion of its plant restructuring project worth US$240m in Nanggroe Aceh Darussalam (NAD) next year. The expansion is estimated to boost the company’s total annual cement production capacity to 1.6Mt. "Semen Andalas, currently owned by LafargeCement, will start its producti... |
Cement prices likely to dip by INR20/bag in Mumbai14 October 2008, Published under Cement NewsThe dipping stock markets and fall in the real estate prices are going to have a strong effect on the cement industry. Even though there hasn’t been much change in the cement prices, stockists and dealers say that the prices will dip in two months as much as about INR20/bag in Mumbai, one of the biggest markets for cements. "Our sales have gone down by almost 90 per cent with the slow down in constructions and repair works," said Anwarbhai Chunawala, who runs a wholsesale trade in Pydhonie ... |
India cement firms’ Q2 advance tax falls13 October 2008, Published under Cement NewsA slowdown seems to be catching up with the construction sector, if the 35 per cent decline in advance tax payments of cement companies in September 2008 is any indication. Many leading cement manufacturers such as ACC, Ambuja, Grasim and Ultratech have paid lower advance tax as compared to the previous September. Aditya Birla group’s Grasim and Ultratech have paid 66 per cent lower advance tax paid for September 2008 quarter compared to the year-ago period. Grasim paid INR79 crore, while U... |
It’s bargain sale on D Street13 October 2008, Published under Cement NewsThere was never a better time to accumulate India’s blue-chip stocks. Some of the soram Industries, ITC, Ambuja Cement and Indian Hotels, among others, are trading at one of their lowest levels in over a decade on various valuation parameters such as P/E ratio, price-to-book value and dividend yield. Take, Tata Steel for instance, India’s oldest integrated steel maker, which celebrated its centenary only last year. The company is currently at a little over two times its annualised net pro... |
Turkmenistan abolishes duties on imported cement10 October 2008, Published under Cement NewsTurkmen President Gurbanguly Berdymukhammedov signed a decree temporarily abolishing custom duties on imported cement beginning October 1, 2008. The decree was adopted with the goal of improving the supplies of cement products to the construction sites of Turkmenistan. |
Hengji to export 100,000t cement to Russia in 0810 October 2008, Published under Cement NewsHeilongjiang Heihe Hengji Cement Co., Ltd, a cement producer based in Harbin City, Heilongjiang Province, northeast China is scheduled to export 100,000t cement to Russia in 2008. The company had a cement export of 20,000t to Russia since it pioneered in the Russian market in 2006, and took a cement export of 50,000t in the next year. If there was a reduction in customs clearance time in Russia, 200,000t more cement would be carried to the country in 2008. In order to meet growing demand f... |
Philippines: cement makers asked to explain prices03 October 2008, Published under Cement NewsThe Department of Trade and Industry (DIT) is considering subpoenaing cement companies that are slow in complying with a request for information relating to recent price increases, Trade and Industry Secretary Peter Favila said. The cement makers are apparently dragging their feet about the matter, he said in an interview. “ received word that they seem to be being less than helpful.” Last week, Favila said the DTI was awaiting documents from Holcim and Lafarge that would explain more subs... |