Cement News tagged under: pricing
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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 ... |
Egypt’s Ministry holds talks with cement industry over price concerns12 March 2013, Published under Cement NewsEgypt’s Ministry of Industry and Foreign Trade has said it will take measures to curb rises in cement prices following meetings held with cement companies, according to local press reports. Hatem Saleh, Minister of Industry and Foreign Trade, has met with representatives from cement manufacturers in Egypt to discuss the reasons behind the recent hikes and to help control the increases, AllAfrica press reported. Last week, the ministry said it is considering imposing a levy on cement export... |
Credit Suisse upgrades HeidelbergCement08 March 2013, Published under Cement NewsCredit Suisse has upgraded HeidelbergCement from underperform to neutral and increased its target price to EUR53.00 from EUR37.00, Dow Jones reports. The bank says a more upbeat outlook for global cement prices this year and increasing demand improve the industry’s pricing power. CS also cited lower cost pressures and HeidelbergCement’s fading balance sheet concerns as reasons for the upward revision. Preliminary figures from HeidelbergCement show an 8.7 per cent advance in turnover last ... |
Andhra Pradesh prices rise on new capacity additions, India08 March 2013, Published under Cement NewsCement prices in the Indian state of Andhra Pradesh have come down by about INR10-15/bag following the introduction of new capacity additions. The Business Standard of India reports that the drop in prices in southeastern state come at a time when other markets are witnessing an increase. Although consumption has been increasing in Andhra Pradesh over the last two/three months, these improvements to cement producers have been offset by increased supplies. |
Egypt considers levy on cement exports07 March 2013, Published under Cement NewsEgypt’s Ministry of Industry and Foreign Trade Eng Hatem Saleh has said that the ministry is considering imposing a levy on cement exports as a result of increases in cement prices on the local market. In a statement released last Thursday by Egypt’s State Information Service, the Minister said that cement prices in the local market have increased from EGP420/t to EGP700/t, while there is a significant deficit in cement supply in the market which is also leading to increased prices. T... |
Macquarie more positive on China cement sector07 March 2013, Published under Cement NewsResearch house Macquarie is turning more positive on the cement sector and expects to see more signs of downstream demand recovery in mid-2013 following a recent market visit. Macquarie has lifted its target price for Anhui Conch to HK$30 from HK$17.5, and upgraded the stock to "neutral" from "underperform". It has increased its 2013-14 earnings forecast by 8-11 per cent to factor in stronger consolidation-driven volume growth in the coming 2-3 years. Macquarie is It has also lifted i... |
Italcementi incurs substantial trading losses in Italy and Spain06 March 2013, Published under Cement NewsItalcementi has reported a 2012 trading loss compared to a profit in 2011 as the Italian cement major incurs substantial losses in its domestic market and Spain. Italian prices, however, see important improvements. Turnover for the year declined by 3.8 per cent in 2012 to €4480.1m but underlying EBITDA was down by 9.8 per cent to €632.4m. After an impairment charges that jumped from €134.3m to €309.4m, last year's trading profit of €138.9m was turned into a €150.9m loss. Net financial ... |
Credit Suisse upgrades Taiheiyo Cement, Japan06 March 2013, Published under Cement NewsCredit Suisse has upgraded Japan’s leading cement producer Taiheiyo Cement to Outperform from Neutral and sees improved profits for the company in the next fiscal. The house sees a one-off but substantial shortfall versus guidance in the current fiscal year due to higher fixed costs and increases in cost outlays due to production-related issues. However, it expects the company to achieve profits in the fiscal ending March 2014 on a comparative profit rebound, relatively large benefits from... |
Egypt: rising prices prompt monopoly concerns05 March 2013, Published under Cement NewsA recent rise in Egyptian cement prices has prompted the country’s Consumer Protection Agency to file a complaint with the Protection of Competition on price fixing allegations. The Consumer Protection Agency is claiming that cement companies have tactically agreed to raise cement prices, according to reports in Al-Masry Al-Youm press. The report states that the president of the Consumer Protection Agency, Atef Yaaqoub, has questioned the price increase given that cement supply has gone up... |
India’s COMPAT hears petitions on cartel ruling25 February 2013, Published under Cement NewsIndia’s Competition Appellate Tribunal (COMPAT) has begun hearing the petitions filed by cement firms on a US$1.1bn penalty imposed on them by the Competition Commission of India on grounds of cartel practices. A COMPAT bench, headed by its chairman Justice VS Sirpurkar, began hearing the petitions last week and the hearings are expected to resume today (Monday 25 February) and be carried out on a fast-track basis this week, the Economic Times of India reports. The Competition Commissi... |