Equity Analysis /
China

CN : Cement - Cement price hikes in major regions while shipments in north and northeast China remain relatively weak

    CGS-CIMB
    5 April 2021
    Published byCGS-CIMB

    The average price (nationwide) of 42.5 grade cement increased by 1.9% to Rmb451/tonnelast week. The average coal price increased to Rmb585/tonnelast week. Asia Cement [0743.HK; NR] reported net profit growth of 14.8% yoy in 4Q20, indicating that it has fully recovered from the COVID-19 impact. Cement stocks under our coverage increased by 1.98%, on average, last week.