According to the data of the National Bureau of Statistics, from January to June 2024, the national fixed assets investment was 24539.1 billion yuan, an increase of 3.9% over the same period last year. On a month-on-month basis, fixed asset investment grew by only 0.21% in June. In terms of
transportation construction, the situation is more severe. Data show that in the first half of 2024, the investment in transportation fixed assets was 1.7 trillion yuan, while in the first half of 2023, the investment in transportation fixed assets was 1.8 trillion yuan, down 5% from 2023. In terms of
real estate, from January to June of 2024, the national real estate development investment was 52529 billion yuan, down 10.1% from the same period last year; of which, the residential investment was 39883 billion yuan, down 10.4%. From January to June, the construction area of real estate development enterprises was 6968.18 million square meters, down 12.0% from the same period last year. Among them, the residential construction area was 487437 million square meters, down 12.5%. The new housing construction area was 380.23 million square meters, down 23.7%. Among them, the new residential construction area was 277 million 480 thousand square meters, down 23.6%. Affected
by the decline in investment in real estate development and the slowdown in infrastructure investment, domestic cement demand declined as a whole.
According to the data of the National Bureau of Statistics, the apparent consumption of cement in the first half of the year was about 850 million tons, with a year-on-year decline of more than 10%. According to the results of grassroots research, the actual decline of cement demand may exceed 15%. For the whole year, Zhang Xiaohua, chairman of Red Lion Group, recently predicted that domestic cement demand would fall by 10% in 2024. The
future demand for cement depends on the intensity of investment in fixed assets. According to the investment statistics in the first half of the year, it is expected that the future demand for cement will be difficult to improve. Enterprises should reduce demand expectations in order to cope with the downward trend.
