Bullish Turn For Anhui Conch Cement, Price Increases Expected -- Market Talk

Dow Jones07-05

0427 GMT - Citi analysts anticipate a bullish turn for Anhui Conch Cement based on reports of a potential price increase for cement and clinker in the Yangtze River Delta by CNY50/ton this week. This hike, which comes amid lowered off-peak production schedules in a seasonally weak period, suggests a shift toward prioritizing profits over market share in 2H 2024 among key players like Anhui Conch and CNBM, they say in a note. The increase is in line with price moves in South China in June and Citi notes that market collaboration in East China is more challenging because many smaller players have easy access to markets. Citi maintains a buy rating on Anhui Conch, adding that they "expect continued price actions in the East China market in the coming months." (rthvika.suvarna@wsj.com)

(END) Dow Jones Newswires

July 05, 2024 00:27 ET (04:27 GMT)

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