In March, the construction conditions in most parts of China improved compared with the previous period, but affected by capital and other factors, the downstream construction activities were still in a slow recovery stage, the local demand growth in the south was relatively good, and the concrete shipments gradually recovered to about 6-8% of the normal level. At the same time, the upstream cement enterprises actively push up the quotation, the actual implementation situation is different, and the cost-side support is stronger than previous period. Overall, the domestic concrete market demand gradually picked up in March, and the price focus followed the slight increase in raw materials.
In March, from the average price of concrete in 30 provinces and cities, prices fell in 20 places, 6 places less than February; prices rose in 8 places, 6 places more than February.
Table: Average Price and Change of C30 Ready-mixed Concrete in 30 Provinces and Cities in China in March (yuan/m3,%)
Data Source: Cement Big Data (https://data.ccement.com/)
In April, the precipitation in most regions of China was less. The overall construction index will show an upward trend.
Among them, as the temperature rises in the northern market, the construction activity will be further enhanced, which will accelerate the recovery of concrete demand. However, due to the limitations of funds and the number of new projects, the actual growth space of terminal demand is relatively limited, and most regions are still facing strong market competition pressure. In terms of cost, upstream enterprises are likely to continue to push up prices, and it is expected that the support for concrete prices will continue to increase, but the actual implementation remains to be observed.
Overall, the domestic concrete market demand rebounded further in April, coupled with the cost side continued to push up, the actual price trend is expected to be volatile.
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