Coal price is more than 200 yuan/ton higher than low point in the year, and the cost of cement enterprises is under pressure.

According to the big data of China Cement Network, the price of domestic thermal coal has continued to rise since the middle of the year. By the end of November, the price of thermal coal has risen by more than 200 yuan/ton compared with the low point of the year (the middle of the year), and the production cost of cement per ton has increased by more than 20 yuan. In terms of

cement prices , domestic cement prices have continued to decline since the beginning of the year. After entering the "traditional peak season", cement prices around the country have experienced a lot of push up, but the implementation is not good. Up to now, the national cement price index has dropped by about 80 points compared with the beginning of the year, and the downward trend of cement price is obvious.

In addition, as a core index reflecting the change of P.O42.5 bulk cement arrival price after deducting the cost of coal per ton, and also a key indicator reflecting the profit margin of the cement industry, the China Cement and Coal Price Difference Index (CCPDI) has shown a continuous downward trend since the beginning of April this year. Down 37.58 points.

Looking forward to the later period, from the end of the year to the beginning of 2026, supported by factors such as the release of winter storage demand and the tightening of safety supervision in production areas, the price of thermal coal will probably remain stable and strong, and the cost pressure of the cement industry will not be significantly alleviated in the short term.