(China Knowledge) - Asia Cement (China) Holdings<0743>, a mainland subsidiary of Taiwan-based Asia Cement Corp, plans to raise its cement output to 11.5 million metric tons in the second half of this year, 44% more than in the first half, said Chief Executive Chang Tsai-hsiung, sources reported.
The cement maker may see the average selling price of the material rising RMB 20 to RMB 30 per metric ton in the fourth quarter of this year because the government's restriction on power-use caused the short supply of cement in eastern China, according to the report.
Average selling price of cement increased about RMB 10 to RMB 275 per metric ton in September from RMB 265 per metric ton in August.
In the first six months of this year, the company sold a total of 8 million metric tons of cement at about RMB 250 per metric ton.
In the first half, the company's net profit plunged 56.71% to RMB 140 million from RMB 324 million in the same period of last year due to low cement price.
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