Cement News tagged under: Weekly Newsletter
CMA highlights positive sector prospects and continued sustainability drive26 June 2020, Published under Cement NewsIndia’s cement industry is providing self-sufficiency and is well-placed to cater to the existing and future demand of cement, according to Marendra Singhi, CMA president, in the opening session of Green Cementech’s 2020 virtual conference on 24-26 June. He highlighted the considerable growth prospects of the country’s cement sector in view of the country’s need for infrastructure and housing programmes. In terms of the sector’s sustainability, Mr Singhi emphasised that the country operate... |
Titan posts rise in 5M EBITDA26 June 2020, Published under Cement NewsTitan Group reported a drop in consolidated revenue by 2.1 per cent to EUR641.8m in the January-May 2020 period, following a 6.1 per cent growth in the 1Q20 and a subsequent slowdown in April and May during the peak of the coronavirus pandemic. However, EBITDA rose by 5.5 per cent to EUR97.3m thanks to a reduction in costs, mainly due to lower fuel costs. Titan's net profit after taxes and minorities was down 9.1 per cent YoY to EUR3.5m. With construction considered an essential activity ... |
Saudi Arabia records 10% demand increase in 5M2025 June 2020, Published under Cement NewsSaudi Arabia’s cement sector has reportedly seen a 10 per cent YoY demand growth in the first five months of 2020, according to Al Rajhi Capital. Qassim Cement and Yanbu Cement saw the highest YoY increase of 21 and 18 per cent, respectively, for the combined period of April and May. However, when comparing the first two months of 1Q20 with the first two months of 2Q20, volumes have declined by almost 50 per cent. "We estimate that for the next couple of years, the industry will wit... |
Vicat sees improved activity in May24 June 2020, Published under Cement NewsFrance-based cement producer Vicat has provided an update of business levels in May, noting a marked improvement when compared with market performance in March and April. In France business activity has been improving steadily since the low point of mid-March and by the end of May, the level was slightly lower than that recorded in the year-ago period. Switzerland also continues to perform well. The challenging macroeconomic and competitive environment in Turkey and Egypt continue to aff... |
Cement consumption in Vietnam slips 3% YoY in May23 June 2020, Published under Cement NewsVietnamese cement demand fell by three per cent YoY to 5,680,883t in May 2020, according to the country’s cement association, VNCA. Sales by VICEM saw a two per cent decline to 1,975,476t while offtake from its associates decreased by eight per cent to 1,495,407t YoY. Other VNCA member companies saw a one per cent advance in sales to 2,210,000t in May 2020 when compared with 2,160,000t in May 2019. Exports increased by 23 per cent YoY in May to 3,138,827t, supported by a 65 per cent surge... |
Bangladesh cement producers demand income tax withdrawal22 June 2020, Published under Cement NewsBangladesh’s cement manufacturers have urged the government to withdraw the advance income tax (AIT) and high customs duty levied on clinker imports in order to ensure the industry’s survival. In a post-budget press briefing led by the Bangladesh Cement Manufacturers Association (BCMA), the industry argued that the non-adjustable AIT (advance income tax), which is authorised under two subsections of income tax ordinance, is 'unjust' as a company has to pay this tax even if it incurs a loss.... |
China's cement production rises 9% YoY in May19 June 2020, Published under Cement NewsCement production increased to 248.69Mt in May 2020, up 11.3 per cent from April and 8.6 per cent from the corresponding period last year, according to the South China Morning Post. The recovery has been attributed to resumed and stronger construction activity, following the lifting of the restrictions put in place by the government control the spread of the coronavirus outbreak earlier this year. However, going forward cement production is expected to peak in June due to the summer ra... |
INSEE ramping up output at Galle plant18 June 2020, Published under Cement NewsINSEE Cement will be ramping up production at its Galle cement plant to support the local economy’s fast recovery from the COVID-19 pandemic. The company said in a statement that over the years, local cement manufacturers have contributed immensely in enriching the national economy through value additions that support the employment opportunities, up-skilling of local construction professionals through continuous training and education provided across all levels of stakeholders along with ... |
JK Cement reports 4Q results and receives approval to raise INR2.5bn18 June 2020, Published under Cement NewsIndia’s JK Cement has reported a 99.9 per cent decline in net profit to INR2.3m (US$30,194) in the final quarter of FY19-20, compared with INR1.5bn in the year-ago period. Net revenue edged up to INR14.78bn from INR104.71bn in the 4QFY18-19. Operating expenses dropped 6.7 per cent YoY to INR11.31bn from INR12.12bn. The company has also received approval to raise funds through the issuance of secured non-convertible debentures in one or more tranches for an amount up to INR2.50bn, within t... |
Senegal sees contraction in cement sector17 June 2020, Published under Cement NewsCement exports from Senegal have fallen by 42.3 per cent MoM in March 2020 while domestic sales slipped by 0.5 per cent, according to ANSD, the national agency for statistics and demography. YoY the drop was 41.5 per cent for exports while domestic sales edged up 0.2 per cent. Output at the country’s cement plants declined by 9.5 per cent MoM and 7.7 per cent YoY. |