market operation, CONCPI fell by 1.25%
in the first quarter, the national commodity concrete price index (CONCPI) fell by 1.25% in the first quarter, compared with the fourth quarter of 2022, the price decline has expanded. Influenced by the Spring Festival and weather factors, the demand for concrete remained low in the first quarter, the market performance was flat, and the price of concrete showed a downward adjustment trend. In January, when the lunar calendar was the Spring Festival, construction sites and mixing stations were shut down one after another, market transactions gradually stopped, and concrete prices fell first and then stabilized. In February, the market entered the recovery stage after the festival, the downstream construction projects basically began to resume work after the New Year's Day, the overall demand recovery rate was slow, and the concrete price still fell slightly. Since March, the increase of upstream raw materials has gradually fallen to the ground, coupled with the acceleration of construction progress of infrastructure projects, the shipment volume of concrete market has rebounded, so the quotation of local concrete has been raised. However, due to the low start-up rate of real estate projects, the overall demand for concrete is still lower than same period in previous years, so the price of concrete in most areas remains stable. Compared
with the same period last year, CONCPI fell 8.48% year-on-year in the first quarter, and the growth rate fell 13.11 percentage points in the same quarter.
Figure 1: Month-on-month and Year-on-Year Trend
of National Concrete Price in the First Quarter Data Source: Cement Big Data (https://data.ccement.com/)
In terms of months, the national concrete price index bottomed out and rebounded in the first quarter, and the month-on-month decline gradually narrowed. Growth turned positive in March. It fell 0.74% in January, 0.26% in February and 0.08% in March. According to PPI data, the growth rates in January and February were-0.4% and 0.0%, respectively. Compared with the concrete price index, PPI reached the bottom earlier.
Figure 2: The month-on-month trend of the national concrete price index (CONCPI) and PPI (month)
Data source: cement big data (https://data.ccement.com/)
Prices in the six regions have been lowered. The
price index of Northeast China fell by 2.64% annually, followed by East China, Southwest China and Northwest China, which fell by 1.66%, 1.21% and 1.04% respectively, while that of North China and Central South China fell by 0.77% and 0.63% respectively. Overall, concrete prices in all regions fell in the first quarter. Compared
with the same period last year, the price index of concrete in the six major regions of the country is low. Among them, the price index of Central South and Northeast China fell by 10.55% and 10.26% respectively, and the price callback was relatively deep. Secondly, in East China and Southwest China, the concrete price index fell by 8.71% and 8.51% respectively. Northwest and North China fell slightly, down 3.74% and 1.18% respectively.
Figure 3: Month-on-month Trend of Concrete Price Index in Six Regions in the First Quarter (%)
Data Source: Cement Big Data (https://data.ccement.com/)
Prices in more than half of the provinces and cities fell. In the
first quarter, the price of C30 concrete fell in 15 of the 29 provinces and cities, with Liaoning leading the decline by 4.71% annually, while the average price of concrete in Jiangsu, Chongqing, Beijing and Shaanxi fell by 2.18-3.62% annually. The decrease was basically between 0.22 and 1.72%; C30 concrete prices rose in 7 provinces, with Guangxi and Hainan leading the rise, with a month-on-month increase of 1.29% and 1.01% respectively, and the quarterly average price of concrete in Yunnan, Henan, Jiangxi, Shandong and Hebei increased by about 0.03-0.79%.
Figure 4: MoM Growth Rate
of Average Price of C30 Concrete in 29 Provinces and Cities in the First Quarter of 2023 Data Source: Cement Big Data (https://data.ccement.com/)
Table 1: Average Price of C30 Concrete in 29 Provinces and Cities in the First Quarter of 2023 Source of standard, year-on-year and chain monitoring
data: cement big data (https://data.ccement.com/)
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