CEMPI fell 8.36% month-on-month & nbsp; Demand accelerated recovery & nbsp; Strong price trend In the
first quarter, the northern market was affected by the low temperature weather, the construction rhythm was slow, and the market demand recovered poorly. In the southern market, the temperature continued to rise, the price in some areas was rising positively, and the cement enterprises were shipping positively. The quarterly average of the National Cement Price Index (CEMPI) dropped from 151.53 to 138.87, down 8.36% from the previous quarter. The overall national cement market turned for the better, and the cement price continued to rise, with the rise and fall of the six regions by half, and the demand in the central and southern regions turned for the better; the demand in East China was good; the market sales in the southwest region increased; the overall demand in the northeast region was weak; the market in North China was weak, and the cement price fell; the peak staggering in the northwest region ended, and the cement price fell compared with February. Compared
with the same period last year, CEMPI fell by 19.31%.
Figure 1: National cement price ratio and year-on-year trend
in the first quarter Data source: Cement Big Data (https://data.ccement.com)
In January, most construction sites in the northern region were closed for a holiday. Most construction sites and mixing stations in the southern region were shut down one after another. During the Spring Festival, the market demand was in a stagnant stage, while the coal price continued to rise slightly. Overall, the downstream demand continued to weaken, coupled with the winter peak staggering in many places, the supply and demand weakened synchronously, the cement price fluctuated downward, and the CEMPI fell by 5.94%; In February, affected by the low temperature weather in the northern region, most construction sites and mixing stations have not yet fully resumed work, the pace of construction is slow, the temperature in the southern region is warmer, the market demand is accelerating recovery, and some areas are actively raising prices. On the whole, the downstream demand gradually recovered. In addition, many places were in the off-peak stage in winter, the supply-demand relationship was strong, the cement price fluctuated upward, and the CEMPI decreased by 1.30% on a month-on-month basis. In March, the northern region was affected by low temperature and polluted weather, the construction pace was slow, the demand recovery was not good, the temperature in the southern region continued to rise, and the cement enterprises had positive shipments. On the whole, the downstream demand continued to recover, the supply was enlarged after the end of peak staggering in many places, the supply and demand strengthened synchronously, and the cement price continued to rise.
CEMPI rose 2.88%, compared with PPI, CEMPI and PPI rose in line, and CEMPI was ahead of the trend of change.
Figure 2: Trend of China Cement Price Index (CEMPI) and PPI on a month-on-month basis (month)
Data source: cement big data (https://data.ccement.com)
Six regions have the same decline & nbsp; & nbsp; In
the first quarter, the cement price index in East China fell the most by 10.72%, while the prices in North China, Southwest China, Central South China, Northeast China and Northwest China fell by 8.82%, 8.17%, 6.40%, 3.33% and 0.17%, respectively.
Compared with the same period last year, the cement price index of the six regions all fell, with East China leading the decline, down 22.69% year-on-year. Prices in Central South, North China, Northwest, Northeast and Southwest China fell by 20.38%, 16.82%, 13.29%, 12.42% and 12.34%, respectively.
Figure 3: Chain Trend of Cement Price Index in Six Regions in the First Quarter (%)
Data Source: Cement Big Data (https://data.ccement.com)
Prices in 31 Provinces and Cities & nbsp; Fujian fell the most
in the first quarter, with the price of P.O42.5 bulk cement falling in 28 provinces and rising in 3 provinces. The number of rising provinces decreased compared with the previous quarter. Among the rising provinces and cities, Xinjiang had the highest ring-to-ring increase, reaching 2.65%, and the average price of the corresponding quarter rose by 11.54 yuan/ton; Shaanxi Province rose by 1.51%, corresponding to an average price increase of 6.94 yuan/ton, Xizang Autonomous rose by 0.06%, corresponding to an average price increase of 0.35 yuan/ton, the specific ring ratio and year-on-year changes are shown in Table 1. Among the 28 provinces and cities that fell, Fujian Province had the highest month-on-month drop of 21.12%, and the average price of the corresponding quarter fell by 104.69 yuan/ton; Beijing had a month-on-month drop of 13.08%, and the average price of the corresponding quarter fell by 69.99 yuan/ton. See Table 1 for details of prices in other provinces and cities that have fallen.
Figure 4: Prices of P.O42.5 bulk cement in 31 provinces and cities in the first quarter of 2023 (yuan/ton)
Data source: Cement Big Data (https://data.ccement.com)
Table 1: Prices of P.O42.5 bulk cement in 31 provinces and cities in the first quarter of 2023. 5 Average price of bulk cement, year-on-year and quarter-on-quarter monitoring
data Source: Cement Big Data (https://data.ccement.com)
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