Equity Analysis /
China

CN : Cement - Cement prices continued to rise last week; Qilianshan and Huaxin expect a strong yoy recovery in 1Q21

    CGS-CIMB
    11 April 2021
    Published by

    The average price (nationwide) of 42.5 grade cement increased by 0.3% to Rmb452/tonnelast week. The average coal price increased to Rmb589/tonnelast week. Qilianshan and Huaxin Cement expect a strong earnings recovery in 1Q21, but the 1Q21 recurring net profit for Huaxin Cement is still below that in 1Q19. Cement stocks under our coverage increased by 1.31%, on average, last week.