＜Research＞Citi Opens Upside 30-day Catalyst Watch on CONCH CEMENT (00914.HK)

　　According to Digital Cement, cement and clinker prices in the Yangtze River Delta region will increase by RMB50 per ton on 5 July, Citi Research issued a research report saying.

　　The price hike is mainly due to industry self-regulation and off-peak production schedules, with plan to suspend production for 10 days in July and 10 days in August, resulting in a reduction in output of about 30%.

　　The move is against the weak seasonality, and Citi Research saw it as a sign that industry leaders including CONCH CEMENT (00914.HK) +0.200 (+1.028%) Short selling $27.80M; Ratio 26.652% and CNBM (03323.HK) +0.040 (+1.325%) Short selling $6.59M; Ratio 12.042% will shift their pricing strategies in 2H24 to prioritize profit over market share, according to the report.

　　In addition, Citi Research expected prices in eastern China to continue to rise in the coming months. The broker kept rating at Buy on CONCH CEMENT, with a target price of $27, and opened an upside 30-day catalyst watch.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 12:25.)

　　AAStocks Financial News