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SunSirs: Cement Prices in East China were Weak and Declining
March 04 2024 16:18:39SunSirs(Selena)

According to the commodity market analysis system of SunSirs, cement in East China has recently experienced a weak decline. The price at the beginning of the week was 322.00 RMB/ton, and the weekend price was 310.00 RMB/ton, a decrease of 3.73%, a month on month decrease of 4.91%, and the current price has dropped by 21.32% year-on-year.

Recently, cement prices have declined in some areas of East China. In the past three months, the cement market has been mainly fluctuating and declining, with prices continuing to decline last week. Currently, due to the impact of the late spring cold, there is abundant rainfall and low temperatures in East China. Most mixing plants and construction sites have not fully started, resulting in sluggish market demand and significant inventory pressure from cement manufacturers, leading to a decline in the cement market.

Last week, coal prices fluctuated and consolidated. After returning from the Spring Festival, coal mines have gradually resumed production, and the market supply has increased compared to the previous period. Overall, long-term cooperative shipping is the main focus. Recently, due to rainy and snowy weather, transportation has not been smooth. After smooth transportation, market price reductions have stimulated transportation, and overall stability is the main focus. Downstream procurement is still mainly based on demand, and appropriate replenishment should be made according to their own situation.

In January 2024, among 70 large and medium-sized cities, the number of cities with a month on month decline in the sales price of commodity housing decreased, and the overall month on month decline in the sales price of commodity housing narrowed, continuing the downward trend year-on-year. In January, the sales price of newly-built commercial residential properties in first tier cities decreased by 0.3% month on month, which narrowed by 0.1 percentage points compared to the previous month. In recent years, real estate investment has gradually declined, and infrastructure demand is difficult to hedge against the impact of the real estate downturn. The support for the cement market is weak.

According to the prediction of SunSirs, the current cement industry has severe overcapacity, and the impact of staggered production on the supply side has significantly decreased. Cement demand has been at a low level for a long time. Therefore, cement product analysts from SunSirs believe that the cement market will mainly experience a slight decline in the short term.


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