the off-season, with CONCPI falling by 5.87%
in the third quarter. In the third quarter, the National Commodity Concrete Price Index (CONCPI) fell by 5.87%, an increase of 3.71 percentage points compared with the second quarter of 2023. Affected by the high temperature and rain weather factors, the domestic construction conditions in the third quarter were not good, the market as a whole was in the traditional off-season, coupled with insufficient new projects, concrete shipments declined significantly, and the average market transaction price continued to decline with raw materials. From July to August, the domestic typhoon activity was frequent, the overall precipitation increased, and the downstream construction intensity decreased. At the same time, due to the poor semi-annual repayment situation, the supply enthusiasm of mixing stations is weak, the supply and demand of concrete market is weak, and the price decline is more obvious. In September, the weather conditions gradually improved, coupled with the accelerated discovery of government bonds, the number of new construction projects on the infrastructure side increased, and demand improved slightly, but concrete prices continued to fall slightly due to the obvious drag on the real estate market. Compared
with the same period last year, CONCPI fell 9.06% year-on-year in the third quarter, an increase of 7.39 percentage points in the same quarter.
Figure 1: Trend of China's concrete price in the third quarter on a month-on-month and year-on-year basis (%)
Data source: Cement Big Data (https://data.ccement.com/)
In terms of months, China's concrete price index continued to decline in the third quarter. The trend was weaker than producer price index, which fell 1.93% in July, 2.27% in August and 1.97% in September. According to PPI data, the growth rates in July and August were-0.2% and 0.2% respectively, which were earlier than bottoming out of the concrete price index.
Figure 2: Trend of monthly national concrete price index (CONCPI) and PPI (%)
Data source: cement big data (https://data.ccement.com/)
Prices in six regions continued to decline. East China fell the most
, with the concrete price index falling by 8.23%, followed by Central South and Southwest China, with a decline of 4.78% and 4.37% respectively, and North China, Northwest China and Northeast China, with a decline of 3.19%, 2.57% and 1.26% respectively. Overall, concrete prices in all regions continued to decline in the third quarter, and the decline was generally larger than that in the second quarter. Compared
with the same period last year, the price index of concrete in the six major regions of the country is obviously low. Among them, the price index in East China fell by 13.11% year-on-year, with a deeper price correction; followed by the Northeast and Southwest regions, where the concrete price index fell by 8.51% and 7.46% year-on-year, respectively; the Central South, Northwest and North China regions fell by 5.87%, 4.72% and 3.28% year-on-year, respectively.
Figure 3: Trend of concrete price index in the third quarter of six regions (%)
Data source: cement big data (https://data.ccement.com/)
More than 90% of the provincial and municipal prices fell. Zhejiang and Anhui fell sharply in the
third quarter, with C30 concrete prices falling in 27 of 29 provinces and cities. Among them, the price of concrete in Zhejiang and Anhui fell by 12.28% and 11.22% respectively; the average price of concrete in Shanghai, Jiangxi, Hainan, Guangxi, Shandong, Guangdong, Sichuan, Jiangsu, Beijing and Shaanxi fell by 5.12% -7.71%; The average price of concrete in Hunan, Yunnan, Fujian, Hebei, Henan, Tianjin and Hubei fell by 2.44% -3.91% on a month-on-month basis, while the average price of concrete in other provinces and cities fell by 0.67% -1.48%. In addition, the average price of concrete in Xinjiang and Ningxia markets remained stable.
Figure 4: Average price growth rate of C30 concrete in 29 provinces and cities in the third quarter of 2023 (%)
Data source: Cement Big Data (https://data.ccement.com/)
Table 1: C30 concrete in 29 provinces and cities in China in the third quarter Average price, year-on-year and month-on-month monitoring (yuan/m3,%)
Data source: Cement Big Data (https://data.ccement.com/)
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