Bituminous coal prices fell, but… “More electricity bill and exchange rate burden”
In December last year, a precast concrete vehicle is stopped at a precast concrete factory in Seoul. random news
The cement industry is expected to continue to reduce prices again this year. This is because Ssangyong C&E, the No. 1 cement manufacturer in Korea, recently raised cement prices by 14.1%.
According to the cement industry on the 31st, Ssangyong C&E recently sent an official letter to ready-mix concrete manufacturers 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, “The price of bituminous coal, which is a raw material for cement, has fallen, but an increase in price is inevitable as electricity rates rise and the burden of the exchange rate increases due to the reduction in the number won.”
With Ssangyong C&E leading the way, other companies such as Hanil Cement and Sungshin Cement are expected to raise prices. Since the cement industry raised the price of cement by more than 30% on two occasions in February and November last year, the remicon industry and construction companies are strongly protesting. There are concerns that construction costs will increase due to rising raw material and labor costs, while cement prices will rise, causing a heavy blow.
The price of cement, which was 78,800 won per tonne in 2021 (average selling price of 7 companies), rose to 105,000 won last year. At the time, the cement industry explained that the business environment had deteriorated due to the high price of bituminous coal and the logistics costs caused by the increase in oil prices.
Sora Lee reporter wtnsora21@hankookilbo.com
