Cement News tagged under: pricing
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Argos to evaluate cement price cuts18 October 2013, Published under Cement NewsColombia’s vice president, Angelino Garzon, met with Cementos Argos directors to discuss cement pricing in the country. "I said it is very important that Argos can talk to other cement companies to help the Government to achieve a compromise which allows lower cement prices," said the official. Argos said it would review the pricing structure and seek a reduction in cement prices, in consultation with other cement companies. However, it said the recent price increases were due to highe... |
Daiwa raises CRC target price, China17 October 2013, Published under Cement NewsDaiwa Research raised its target price for China Resources Cement (CRC) to HK$6.6 from HK$5.95, and retained its "buy" rating. The research house cited management noting that the market has been overly pessimistic on cement prices for south China, as many analysts seem to have misread the capacity growth in the region. While many production lines are pending to be built in the region, not all are able to get full approval, the research house said. With slower capacity growth and improv... |
Zambia prices rise on increased fuel costs11 October 2013, Published under Cement NewsCement prices in the Zambian city of Ndola have risen by ZMW15 (US$2.84) as construction activity booms and the country’s leading producer looks to offset a rise in fuel costs. The Times of Zambia reported that in some outlets, prices have risen from ZMW65 to ZMW80 (US$12 to US$15). Eugene Chungu, corporate affairs and communication director of Lafarge Cement Zambia, said the hike in prices was necessitated by the recent upward adjustment in the prices of fuel following the removal a subs... |
Vietnam sees double-digit rise in 9M13 sales10 October 2013, Published under Cement NewsVietnam sold 44.4Mt of cement in the first nine months of this year, representing an increase of 12 per cent YoY, the Building Materials Department under the Ministry of Construction has said. The total amount sold also included 10Mt of cement and clinker exports. At present, the industry has around 2.6Mt of unsold products, mainly clinker, including 1.2Mta of cement and clinker from the Vietnam Cement Industry Corp (Vicem). The department also said it expects the retail price of ceme... |
Rising South African input costs impacting Lafarge margins08 October 2013, Published under Cement NewsLafarge South Africa has said it may raise cement prices on the local market due to higher fuel and electricity costs. Thierry Legrand, country chief executive, said last week that increasing input costs were having an impact on margins and had not been fully recovered in previous price increases. He said fuel costs rose by 21 per cent in 2011, 16 per cent last year and nine per cent so far this year, while electricity costs were increasing annually by more than nine per cent. As such, the... |
Maple Leaf full-year profit boosted by higher cement prices26 September 2013, Published under Cement NewsMaple Leaf has reported a over a six-fold rise in annual net profit for FY13 driven in part by higher cement prices and lower coal costs. According to a notice sent by the company to the Karachi Stock Exchange, for the 12 months ended 30 June 2013, the company posted a profit of PKR3.23bn compared to PKR496m in the previous fiscal – a staggering increment of 550 per cent. Sales rose by 12.3 per cent to PKR17.36bn thanks to higher domestic prices and better export volumes. Rising cem... |
HSBC cuts target price for China Shanshui Cement26 September 2013, Published under Cement NewsHSBC Research cut its target price for China Shanshui Cement to HK$3 from HK$4.2, and downgraded the stock from "overweight" to "underweight". The research house thinks expectations for better pricing in 2H (during the peak season) will disappoint given Shanshui's geographical exposure. Furthermore, HSBC forecast earnings to remain depressed in FY2014 due to persistently high tax expenses resulting from Shanshui's use of high-yield corporate bonds for offshore financing, as well as i... |
Vietnam producers increase prices24 September 2013, Published under Cement NewsVietnam producers have increased cement prices by VND100,000/t (US$4.71) to help mitigate higher input costs despite domestic demand remaining subdued. The increase is due to the rising cost of inputs such as petroleum, coal and power. The average selling price is now VND1.28m. Prices in the north range between VND1.28m-1.66m/t while in the north they are VND1.36-1.74m/t. Producers have also reduced their discount to agencies by VND20,000/t, the price management department under Vietn... |
Kohat Cement sees 59% rise in full-year profit, Pakistan20 September 2013, Published under Cement NewsPakistan-based Producer Kohat Cement reported a 59 per cent surge in net profit for FY12-13 mainly due to favourable cement and coal pricing trends as well as lower financial costs. For the 12 months ending 30 June 2013, the company posted a profit after tax of PKR2.64bn compared to PKR1.66bn in the previous fiscal. Kohat Cement CEO and All Pakistan Cement Manufacturers Association chairman, Aizaz Mansoor Shiekh, said improved cement prices both in domestic and to export markets, stabl... |
Lucky Cement full-year profit rises 47%18 September 2013, Published under Cement NewsPakistan-based producer Lucky Cement reported a 47 per cent increase in full-year profit and is optimistic on the outlook for domestic consumption but cautions that challenges remain. Net income rose to a record PKR10bn (US$95m) in the 12 months ended 30 June from PKR6.78bn a year earlier. Gross sales rose 63 per cent to PKR63.9bn. The rise in profit is being attributed to an 11 per cent increase in cement prices which climbed to PKR458/50kg bag. “The consumption of cement in the co... |