BEIJING, Sept. 11 (Xinhua) -- China's cement prices nationwide have showed an uptrend since September on the expectation of stable investment, market analysts say.
On September 9, construction on ten major billion-level projects started in southwest China's Guizhou province, with a total investment of 68.53 billion yuan.
It is worth noting that since the end of August, the cement prices in some areas of Guizhou have been raised in succession, with an average increase of 60 yuan/metric ton (tonne).
According to statistics of some cement research institutions, recently, Zhejiang, Jiangxi, Hubei, Hunan, Henan, Shandong provinces and Guangxi Zhuang Autonomous Region have raised the cement prices by 20-40 yuan/tonne.
In fact, cement prices are at a relatively high level, and the boom has already helped the cement enterprises earn a lot.
"The country's cement prices have maintained at more than 400 yuan/tonne since April 2018, and the cement industry is in a boom cycle. It can be reflected from the mid-year financial reports released by the domestic listed cement producers. In the first half of the year, 14 cement listed companies earned operating revenue of about 177.8 billion yuan, a year-on-year increase of 37.53 percent and their net profits amounted to about 27.48 billion yuan, up 29.3 percent from a year earlier. Both the operating revenue and net profits were the highest level in the past five years," said Shao Linlin, analyst of Essence Securities.
However, Chen Bolin, deputy director of the Information Center of China Cement Association, said that the cement prices have been already at a high level on a whole. He did not expect cement prices to rise significantly again. (Edited by Hu Pingchao, [email protected])