The market continued to weaken, with CONCPI falling by 2.16%
in the second quarter, and the National Commodity Concrete Price Index (CONCPI) falling by 2.16% in the second quarter, further expanding the price decline compared with the first quarter of 2023. Influenced by capital and weather factors, the demand for concrete grew fatigue in the second quarter, the actual shipment volume was still lower than same period in previous years, and the price of concrete continued to decline with the raw materials. From April to May, affected by the intermittent overcast and rainy weather, the downstream construction conditions were general. In addition, the social funds were still tight, the construction rate of housing construction projects was insufficient, the growth of infrastructure orders slowed down, the overall domestic concrete shipments remained at a low level, and the prices continued to fall. Since June, the domestic high temperature and rainwater weather has increased, some pre-projects have entered the final stage, new projects have followed the fatigue, the downstream construction intensity has been significantly reduced, and the concrete market has entered the off-season demand. At the same time, the upstream raw material inventory is under high pressure, the cost side support is insufficient, and the concrete price decline is wide. Compared
with the same period last year, CONCPI in the second quarter fell by 7.67% year-on-year, and the growth rate in the same quarter fell by 9.41 percentage points.
Figure 1: Trend of China's concrete price in the second 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 second quarter. The month-on-month decline gradually widened. It fell 0.50% in April, 1.44% in May and 2.10% in June. According to PPI data, the growth rates in April and May were-0.5% and 0.9% respectively, which were basically consistent with the trend of 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 fall. Northeast China continued to lead the decline
, with the concrete price index falling by 8.14%, followed by East China, Southwest China and North China, with declines of 2.92%, 2.67% and 1.35%, respectively, while Northwest China and Central South China fell by 1.06% and 0.59%, respectively. Overall, in the second quarter, the price of concrete in all regions continued to decline, and the decline was wider than that 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 Northeast China and East China fell by 10.04% and 9.20% respectively, and the price callback was relatively deep. Followed by the southwest and central and southern regions, the concrete price index fell by 7.79% and 6.83% respectively. North China and Northwest China fell by 3.77% and 3.72% respectively.
Figure 3: Trend of price index of concrete in six regions in the second quarter (%)
Data source: cement big data (https://data.ccement.com/)
Prices in more than 90% of provinces and cities fell. Liaoning fell the
most in the second quarter, with C30 concrete prices falling in 27 of 29 provinces and cities. Among them, the price in Liaoning led the decline, with a month-on-month drop of 12.64%; the average price of concrete in Zhejiang, Jiangxi, Shandong, Sichuan, Heilongjiang, Jilin and Beijing fell by 3.24-4.81%; the average price of concrete in Chongqing, Anhui, Shaanxi, Shanxi, Fujian, Jiangsu and Hainan fell by 1.08-2.38%; The rest of the provinces and cities with falling prices basically fell between 0.12 and 0.94%. In addition, the average price of concrete in Xinjiang and Ningxia markets remained basically stable.
Figure 4: Average price growth rate of C30 concrete in 29 provinces and cities in the second 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 second 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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