Cement maker re-proposes price increase

Cement distributors said the sales in the recent time declined about 20% because of cooling construction market, the state-run Tuoi Tre newspaper reported.
On July 1, Vo Van Van, information announcer of Ha Tien 1 Cement Joint Stock Company confirmed his firm had sent a document to Ministry of Finance’s Price Management Department to propose selling price increase on the sort of cement PC40 to 150,000 dong per tone (equaling to a rise of 7,500 dong per bag). New price should be applied from July 4 whereby the cement price at factories will be 1.71 million dong per ton (10% VAT inclusive).

If the Price Management Department approves, this will be the third price increase of Ha Tien 1 from the start of this year, bringing total increases to a compound of over 600,000 dong per ton.

Meanwhile, some cement traders say many firms are launching promotions to stimulate purchasing power, so Ha Tien 1’s proposal may trigger further increases. – Vietbiz24

Tags: Vietnam cement, Vietnam cement industry

Posted by VBN on Jul 5 2011. Filed under Cement. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry