Cement News tagged under: cement prices
Dalmia Bharat reports decline in profits21 October 2024, Published under Cement NewsDalmia Bharat Ltd has reported a 60.1 per cent decline in consolidated net profits to INR490m (US$5.8m) for the September quarter due to a decline in cement prices. The company had posted a net profit of INR1.23bn for the same period last year. In this period, the company has noted that operations are also down 2.09 per cent to INR3.08bn from INR3.15bn in the previous year. Sales volume was up by 14.1 per cent to 6.7Mt YoY. Dalmia Bharat’s CFO, Dharmender Tuteja, said, “We delivere... |
Korean cement producers face pressure from Chinese imports04 October 2024, Published under Cement NewsCement producers in South Korea have been voicing discontent about local construction firms looking to import low-priced cement from China. The country's domestic cement prices have grown by approximately 50 per cent in the last three years to reach KRW114,147/t (US$84.6/t). Chinese imports are currently around 15 per cent cheaper (KRW97,280/t) than domestic prices, according to local media. Korea suffers from rising labour costs, escalating energy prices and the need for an industrial tr... |
Pakistan expects local cement dispatches to fall in July 202431 July 2024, Published under Cement NewsPakistan's local cement dispatches are likely to fall 24-26 per cent YoY and 32-34 per cent MoM to clock in at around 2.08Mt in July 2024. This was roughly estimated by BMA Capital Management Ltd, which further adds that local cement dispatches on a YoY basis are down due to a slowdown in construction activities courtesy of higher cost of construction, plus muted government spending on infrastructure due to fiscal constraints, as well as the implementation of axle load. Furthermore, the M... |
Pakistan’s federal budget offers mixed incentives for the cement industry18 June 2024, Published under Cement NewsOn 12 June Pakistan’s Finance Minister, Muhammad Aurangzeb, presented a budget proposal of PKR18.8776trn (US$67.8bn) for FY24-25. The proposal features a record-high deficit of PKR8.5trn, broadly perceived to align with the International Monetary Fund (IMF) guidelines. The cement industry has not yet released any comments on the budget or its lack of considerable incentives for the cement industry.The industry’s sentiments were impacted when the government proposed increasing the federal... |
A quarterly review of the Pakistan cement industry11 March 2024, Published under Cement NewsDue to many competing factors, Pakistan's cement industry will likely see lukewarm sales in 3QFY23-24 (January-March 2024). The holy month of Ramadan will begin on 11 or 12 March and may exhibit weak cement demand for about 30 days. According to AKD Research, industry sales in the current quarter (3QFY23-24) are expected to remain subdued owing to election activity, Ramadan, Eid festivities and inclement weather conditions. Meanwhile, for the full fiscal year, the analyst expects local sa... |
Cement prices surge in Enugu, Nigeria16 February 2024, Published under Cement NewsThe price of cement has hit NGN13,000/bag (US$8.57) in Enugu, Nigeria, compared to around NGN5000/bag in January this year. According to Blueprint Newspapers, while Dangote Cement is selling for approximately NGN10,500/bag, brands such as Supaset and BUA have increased their prices to NGN12,000/bag and NGN13,000/bag respectively. Some commentators have said the price increase is due to exchange rates with the US dollar, while fears have been raised throughout the construction industr... |
Cement prices rise in Sri Lanka08 January 2024, Published under Cement NewsThe maximum retail price of a 50kg bag of cement has been increased in Sri Lanka by LKR150 (US$0.466) with immediate effect, cement manufacturers said. They said the price was increased due to the imposition of the value-added tax on 1 January. Accordingly, the new retail price of a 50kg bag of cement is LKR2450 (US$7.62). Meanwhile, National Construction Workers Union (NCWU) secretary, Supun Abeysekara, told the local Daily Mirror that though only a three per cent VAT should be impose... |
Cement shortage hits Zimbabwean economy04 January 2024, Published under Cement NewsZimbabwe’s economic growth in the third quarter of 2023 was hit by a shortage of cement, according to local news source, Chronicle. The country’s economy grew by just 1.3 per cent over the three-month period, reports the Zimbabwe National Statistics Agency, driven by a 36.7 per cent slowdown in construction activity, which was reportedly due to a lack of cement supplies. Plant breakdowns and scheduled maintenance meant that local producers, including PPC Zimbabwe , Khaya Cement and Si... |
Pakistan cement transportation to become costlier30 November 2023, Published under Cement NewsPakistan has started implementing an axle load regime on transporting cement, all kinds of raw materials and other commodities to meet the World Bank yardstick and improve its ranking. According to IMS Research, the government has taken a firm stance on implementing the axle load regime, effective 15 November 2023, across all motorways and highways in Pakistan. This decision is anticipated to raise transportation expenses substantially for the cement sector, which not only imports coal but a... |
1QFY23-24 is a good omen for Pakistan’s cement industry03 November 2023, Published under Cement NewsPakistan’s cement industry saw healthy growth in profit after tax (PAT) between July and September 2023 (1QFY23-24) on the back of a 32 per cent YoY advancement in sales, according to Spectrum Securities Ltd, which evaluated the results of the top nine cement makers enrolled at the Pakistan Stock Exchange (PSX), representing 93 per cent of the sector’s market capitalisation. The top nine, which represent 93 per cent of the sector's market capitalisation, saw a 33.3 per cent grow... |