The cement industry is pushing for another price hike this year. Following last year’s 33% increase, the price will be raised every year.
According to the cement industry on the 31st, Ssangyong C&E recently sent an official letter to ready mixed concrete companies to increase the price of type 1 bulk cement from 104,800 won to 119,600 per ton by 14.1% from July.
An official from Ssangyong C&E said, “Recently, the price of bituminous coal required for cement production has decreased, but an increase in price is inevitable due to the increase in electricity rates and the burden of the exchange rate due to the devaluation of the winner.”
As Ssangyong, the No. 1 in the cement industry, pushes for a price increase, the industry expects other companies such as Hanil Cement and Sungshin Cement to raise prices one after the other.
Cement customers, the ready-mix concrete industry and construction companies, are protesting the price hike, saying it is an additional increase after raising the price twice last year.
An official in the construction industry said, “The recent increase in construction costs has caused business disruptions everywhere, and if the price of ready-mixed concrete rises due to the increase in cement prices, the conflict in construction costs will intensify.” /Union