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05/07/2022 - 14:25

Cement prices rise, profits to fall

Mounting fuel and coal costs have been added to cement producers' bills, leaving them no choice but to increase prices.

The production plants of VICEM Bim Son. Amid mounting input costs, the producer raised its cement prices by 70,000 VND on June 22. (Photo vicem.vn)

Price adjustments can be observed in almost all producers, with none willing to hold down prices to see profits eroded. Prices have been adjusted from 50,000 VND to 140,000 VND per tonne across the sector.

Trung Son Cement increased p30 Cement and PCB 40 Cement by 90,000 VND per tonne on June 10. Northern Cement Trading followed suit with price rises of 70,000 VND per tonne.

Southern Region Cong Thanh Cement Trading and the Tan Quang Cement got in on the act with price rises of between 50,000 VND and 140,000 VND per tonne on June 15.

VICEM Ha Long JSC. did likewise five days later, announcing price rises between 60,000 VND and 80,000 VND per tonne.

The latest price adjustments were made on June 25 by Vissai Ha Nam JSC., the Song Lam Cement JSC., and the Xuan Thanh Cement JSC. They announced price rises of 60,000 VND per tonne.

Experts believe that domestic consumption of cement will remain stable despite higher prices, as Vietnam has been stepping up the disbursement of public money for key transport projects.

Profits are expected to fall in the short term./.

VNA

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