SunSirs: Cement Price Consolidation at Low in East China
October 19 2023 13:24:34 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, cement in East China has recently undergone a weak consolidation. This week's price was 319.00 RMB/ton, a decrease of 1.24%, and the current price has decreased by 20.65% compared to last year.
Recently, some areas in East China have seen weak consolidation of cement. The cement market has been mainly declining in the past three months, and prices have continued to consolidate at a low level this week. On October 18th, the National Bureau of Statistics released economic data for September 2023. Among them, the national cement production in September this year was 188.87 million tons, a year-on-year decrease of 7.2%; From January to September, the national cement production was 1,495.21 million tons, a year-on-year decrease of 0.7%. In mid October, the demand recovery in the East China market was poor, with weak growth. Enterprise inventory was high, and the gold and silver prices fell short of expectations. The overall market was sluggish, with the cement market in the East China region mainly consolidating at a low level.
Recently, the price of steam coal has been relatively strong. In terms of origin, the coal mine has been operating normally recently. In terms of downstream ports, prices have slightly declined after recent increases. In the later stage, as the weather cools, the demand for thermal coal from power plants may increase. In addition, in terms of policy, the autumn maintenance time of the Daqin Line has changed from the originally scheduled end of October 23 to October 18. In addition, the country has a high level of attention to energy in China, so the upward space may be limited. Specifically, it depends on downstream market demand.
Downstream funding issues are still ongoing, and demand recovery is poor. Specifically, the marginal investment in real estate has weakened again and is still bottoming out in the short term, with weak support for the cement market.
According to the prediction of SunSirs, the demand side of cement is still weak in the near future, with tentative increases in many places, all due to poor implementation and supply-demand contradictions. Therefore, analysts of SunSirs's cement products believe that in the short term, the cement market will mainly experience a slight decline.
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