Cement News tagged under: pricing
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Nomura cautious on China demand growth and average prices21 January 2013, Published under Cement NewsInvestment bank Nomura is bearish on China cement but is less positive than the market on 2Q13 and 2013 demand growth and potential average selling prices (ASP). The house has analysed 138 railway projects in China and found the net incremental cement consumption for 2013 for 2013 to be 16t less than last year. Normura also explored more reliable property new-starts data and concluded that cement demand from the property sector would fall 1.1 per cent YoY in 2013 to 615Mt. It believ... |
Government to lobby Caricom for reduction in import duties16 January 2013, Published under Cement NewsThe government of Trinidad and Tobago says it plans to lobby the Caribbean Community (CARICOM) grouping for a reduction in import duties following Trinidad Cement Ltd’s (TCL) recently-announced 9.5 per cent price hike. Trade Minister Vasant Bharath, has held talks with the company on whether the hike was based on increased costs of inputs, or due to inefficiencies. In news reports by local media, Bharat said that TCL’s costs include an annual energy cost of US$12m for natural gas, a debt o... |
BBMG Corp sees fall in net profit on lower prices, China16 January 2013, Published under Cement NewsBBMG Corporation said its preliminary net profit attributable to shareholders dropped 26.48 per cent YoY to CNY2.52bn (US$405) in 2012 mainly due to a decline in selling prices for its products. The Chinese cement producer said basic earnings per share were CNY0.59, a decline of 27.16 per cent from a year earlier. Total operating revenue was CNY33.29bn, representing a YoY rise of 15.83 per cent. Operating profit fell 21.7 per cent to about CNY2.8 billion. |
UBS lifts China Resources Cement14 January 2013, Published under Cement NewsUBS lifted its target price for China Resources Cement (01313) to HK$5.5 from HK$5.05, but downgraded the stock to "neutral" from "buy". It said CR Cement's share price has risen 51 per cent since its September 2012 low due to an increase in cement prices in its main markets of Guangdong and Guangxi. UBS believes the strong performance has factored in a potential improvement in margin. UBS notes that clinker prices have corrected sharply since December 2012. Although inventory is still fal... |
India cement sector to see recovery in FY13-1418 December 2012, Published under Cement NewsIndia's cement industry is expected to see a sharp recovery in cement prices in FY13-14 with an improving supply and demand scenario, as well as government measures to fast-track infrastructure projects. Reuters reports that Deutsche Bank believes cement companies such as UltraTech Cement and Shree Cement that have potential to increase capacity and have a bigger presence in western and northern India will witness "disproportionate benefits". Meanwhile, Morgan Stanley maintains an 'attra... |
Egyptian government to raise mazout fuel prices for cement companies17 December 2012, Published under Cement NewsThe Egyptian government is to raise fuel prices for cement companies that use mazout for production by 130 per cent, according to local press. The price hike means that per-tonne mazut prices will rise from EGP1000 (US$162) to EGP2300 (US$373), state reports by Ahram Online. Mazout, the raw material from which diesel is derived, will be sold at the new price to all of Egypt's industrial sectors with the exception of electricity production companies and food industries and bakeries, due ... |
Fitch affirms Central Asia Cement rating revises Outlook upward, Kazakhstan17 December 2012, Published under Cement NewsFitch Ratings has affirmed Central Asia Cement's (CAC) National Long-Term Rating at 'BB-(kaz)' and revised the joint stock company's Outlook to Positive from Stable. The agency has also affirmed CAC's senior unsecured KZT1.5bn bond rating at 'B(kaz)'. "The completion of Steppe Cement's capital increae reinforces CAC's financial structure and should allow financing of the investment in the Line 5 refurbishment, while reducing leverage," Fitch said in a statement, adding: "The group is sti... |
Beni Suef resumes production, Egypt12 December 2012, Published under Cement NewsEgyptian cement producer Beni Suef Cement Co has restarted operations as natural gas supplies have resumed. On 6 December it was reported that the company had to suspend operations at four plants for the second time in the last two months due to natural gas shortages. The company had put in requests to President Mohammed Morsy to end the gas shortages and noted that it was unable to import additional supplies due to the lack of strong logistical infrastructure needed to transport energy f... |
Cement prices see third week of decline, China12 December 2012, Published under Cement NewsThe average selling price (ASP) of cement in China has continued its downward trend and registered its third consecutive week of decline since mid-November. During the week commencing 3-7 December 2012 the ASP dropped 0.7 per cent compared to the week before, according to data from the industry information provider Digital Cement. Prices have been falling since mid-November following three months of rises. Prices in the central and southern China regions continued their downward trend ... |
Nomura raises target price on Indocement10 December 2012, Published under Cement NewsNormura Equity Research has raised its target price on Indonesia’s second largest cement producer PT Indocement Tunngal Prakarsa (INTP) from IDR23,400 to IDR26,900 (US$2.43 to US$2.79). T he research house has maintained its ‘buy’ recommendation on higher production volume and improved enterprise value/EBITDA. "Despite recent outperformance of the cement sector and INTP's share price, we still favour the sector, as in our view the cement sector and INTP will continue to benefit from ris... |