Weekly Report of Cement Net: Insufficient Newly Commenced Projects, Weakening Concrete Market (07.15-07.19)

2024-07-19 17:35:12

Some regions in China are affected by high temperature and rain weather, coupled with insufficient new projects, the price of concrete is weakening. From July 11th to July 17th, the national concrete price index closed at 116.73 points, down 0.47% from the previous month.

From July 11 to July 17, the national concrete price index closed at 116.73 points, down 0.47% annually and 11.64% year-on-year. From the perspective of regions, the price of concrete in Chongqing market has been reduced by 30 yuan/m3; the price of concrete in Inner Mongolia, Shanxi, Jiangxi and Hainan has been reduced by 10-20 yuan/m3; the price of concrete in Henan, Jiangsu and Shandong has been slightly reduced by 5-10 yuan/m3; 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.