SunSirs: Cement Prices in East China have slightly Declined
November 16 2023 10:10:44 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, cement in East China has recently experienced a weak decline. The price on November 8th was 325.00 RMB/ton, and on November 15th it was 323.00 RMB/ton, a decrease of 0.62% and a month on month increase of 1.25%. The current price has decreased by 20.64% compared to last year.
Recently, cement prices have declined in some parts of East China. From the above chart, it can be seen that the cement market has mainly seen a slight increase in the past three months, with prices falling back this week. The cement production in October was 191.21 million tons, a year-on-year decrease of 4.0%; The cement production from January to October was 1,685.85 million tons, a year-on-year decrease of 1.1%. Currently entering the off-season of winter, the construction progress of downstream construction sites and mixing plants is average, demand is weak, and the market is declining.
Recently, the price of steam coal has fluctuated and consolidated. In terms of origin, the coal mine has been operating normally recently. In terms of downstream ports, prices have slightly increased after being lowered this week. As the weather cools, the demand for thermal coal in power plants increases, but the main focus is on long-term coal procurement. There is still a wait-and-see sentiment in the market, and power plants do not have large-scale procurement plans, so there may be limited room for growth. Specifically, it depends on downstream market demand.
From January to October, the national investment in real estate development reached 9,592.2 billion RMB, a year-on-year decrease of 9.3%; Among them, residential investment reached 7,279.9 billion RMB, a decrease of 8.8%. 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, demand will continue to be weak and the cement market will show little momentum. Therefore, cement product analysts from SunSirs believe that in the short term, the cement market will mainly experience a slight decline.
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