Sungshin Cement to Raise Cement Prices by 13.5% Starting September

[Asia Economy Reporter Kim Jong-hwa] Sungshin Cement announced on the 16th that it will raise the price of bulk cement from 92,500 KRW per ton to 105,000 KRW per ton, a 13.5% increase, starting next month on the 1st.

Sungshin Cement notified the ready-mix concrete industry of this on the 12th. With Sungshin Cement joining the price increase, most cement prices will exceed 100,000 KRW per ton starting in September. Accordingly, the timing of price increases by remaining companies such as Ssangyong C&E, Asia, and Hanla Cement is also expected to accelerate.

Following Sampyo Cement's 11.7% increase from 94,000 KRW to 105,000 KRW earlier this month, Hanil Cement also raised the price of Type 1 bulk cement from 94,000 KRW to 106,000 KRW per ton, a 15.0% increase, starting September 1st.

An industry insider said, "We are deeply considering the price increase range that can reduce resistance from the demand sector," adding, "We expect to make a decision before the end of this month."

This content was produced with the assistance of AI translation services.