Understanding the Market | WESTCHINACEMENT rose nearly 7% in the afternoon as Ethiopia's cement price control policy was halted, strengthening expectations for a rise in cement prices

WESTCHINACEMENT rose nearly 7% in the afternoon, and as of the time of writing, it was up 5.3%, trading at HKD 1.39, with a transaction volume of HKD 56.765 million. According to media reports, the Ethiopian Minister of Trade and Regional Integration held a meeting earlier and announced that the previously implemented cement price limit policy would be lifted on November 8, 2024, allowing cement manufacturers to independently decide on distribution to retailers, which strengthens expectations for rising cement prices. It is reported that WESTCHINACEMENT's layout in Africa is mainly in Ethiopia, Mozambique, and the Democratic Republic of the Congo; at the same time, WESTCHINACEMENT also has production lines in Uzbekistan. Changjiang Securities previously pointed out that the cement industry faced operational pressure in the first half of the year. For WESTCHINACEMENT, domestic operations were under pressure, while overseas operations saw growth, resulting in a slight overall decline in performance. The firm noted that the company's capacity layout is gradually improving, with overseas operations being the core growth driver