Cement India to Buy Indonesian Coal Mines

2009-10-29 00:00:00

< P > < FONT face = Verdana > India Cement Ltd will buy Indonesian coal mines for $20 million.

< P > < FONT face = Verdana > Company officials said that the acquisition will be profitable through an internal equity investment, the results of which will be announced in the second quarter of 2010.

< P > < FONT face = Verdana > India Cement expects to import coal from the mine after six months next year, with the company planning to mine and import 40,000-50,000 tonnes of coal per month.

< P > < FONT face = Verdana > In the last quarter, 60% of India Cement's coal was imported at a price of $83 per ton, and 40% was obtained from the domestic Singrani coal market.

< BR > (Please indicate the source for reprinting on China Cement Net)

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Correlation

Cement India to Buy Indonesian Coal Mines

2009-10-29 00:00:00

CEMPI

100.41

+0.83 +0.83%

CONCPI

86.65

-0.03 -0.03%

CLKPI

102.88

+1.32 +1.30%

SPPI

41.98

+0.35 +0.84%

MORPI

71.83

0.00 0.00%

East China cement price index rose 5.00 points in a single day, Fujian, Zhejiang and Shanghai cement prices collectively pushed up 20 yuan/ton.

In the short term, the high cost of raw materials and fuels is still the main support for the upward price, and the better weather is also conducive to the moderate recovery of demand; however, this round is mostly the second round of pushing up within a month, and the actual transaction of the last round of small factories in Jiangsu is only 10-20 yuan/ton, and the increase of cooling and rainfall in the latter half of the year and the recovery of demand are still limited, so the landing range is likely to be discounted.