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01313 CR BLDG MAT TEC
RTNominal down1.060 -0.020 (-1.852%)
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20/09/2018 14:10

[I-bank focus]UBS sees ASP hikes for CR Cement in months

[ET Net News Agency, 20 September 2018] China Resources Cement (CRC)(01313) announced a
positive profit alert with cement ASP up by 32.9% YoY to HK$382.6/ton in January-August.
UBS Global Research said that demand is picking up due to seasonal reasons and the
current inventory level is around 7-8ppt lower than last year, which indicates potential
ASP hikes in the coming few months.
The research house said its Guangdong and Guangxi cement ASP predicative model suggests
another Rmb50/ton of hikes in 4Q on average, or 11% higher than current levels.
UBS thinks the market has not fully priced in the sustainable cement demand in Guangdong
and Guangxi. It maintained its "buy" rating on CRC, with a target price of HK$10.96. (KL)

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