Weekly Report of Cement Net: Weak Market Demand in Off-season, Steady Decline of Concrete Price (07.08-07.12)

2024-07-12 17:29:18

Recently, the domestic rain belt has moved northward, the market demand in most regions is still weak, and the price of concrete is stable and weak. From July 4th to July 10th, the national concrete price index closed at 117.28 points, down 0.54% from the previous month.

From July 4 to July 10, the national concrete price index closed at 117.28 points, down 0.54% annually and 11.41% year-on-year. Regionally, the price of concrete in some areas of Hunan and Shaanxi has been reduced by 20 yuan per square meter, the price of concrete in some areas of Sichuan and Hubei has been reduced by 5-15 yuan per square meter, and the price of concrete in other provinces and cities in China has remained stable.

Figure 1: Trend

of Concrete Price Index in Recent Year Data Source: Cement Big Data (https://data.ccement.com/)

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Adani is also a big man in the Indian cement industry and is the second largest cement producer in India. He entered the industry in 2022 with the acquisition of Holcim's cement business in India, which acquired about 70 million tons of cement per year for $10.5 billion. Adani plans to expand its annual cement production capacity to 140 million tons by 2028. Adani has previously invested $1.6 billion to acquire Sanchi Cement and Penna Cement, and is expected to acquire an additional 21 million tons of production capacity.