Capacity indicators of listed companies failed! How much is the cement clinker index worth?

2026-07-08 10:47:35

Both ends of supply and demand are rising and falling, and the price of capacity indicators continues to decline.

On the evening of July

6, Ningbo Fidelity announced that its holding subsidiary, Xinping Yingzhou Cement Co., Ltd., intends to publicly list and transfer its cement clinker production line capacity indicators. On June 5, 2026

, Xinping Company listed the production capacity index of 2000 t/d clinker new dry process cement production line in Ningbo Property Rights Exchange Center at a base price of 43.8 million yuan . The listing announcement period is July 3, 2026.

Up to the expiration of the announcement period, the project has not collected qualified intended transferees, and the listing is terminated.

The follow-up company will continue to promote the disposal and utilization of relevant capacity indicators according to the actual situation.

The 2000t/d clinker production line is calculated based on 300 days of operation, with an annual capacity of about 600,000 tons. Based on the base price of 43.8 million yuan, the listing price per ton of production capacity index is about 73 yuan.

Compared with many cases that have been traded since the second half of 2025, the mainstream transfer unit price in the market is concentrated around 60 yuan/ton, and Ningbo Fidelity's listing price is on the high side or one of the reasons for the auction.

In recent years, the cement industry capacity replacement index trading market has continued to cool down. In 2024, the Ministry of Industry and Information Technology issued the Measures for the Implementation of Capacity Replacement in the Cement and Glass Industry (2024 version), further tightening the scope of capacity that can be used for replacement: capacity that is not included in the compliance list, capacity that does not meet the energy efficiency standards, and capacity that has operated for less than 90 days for two consecutive years shall not be used for replacement. While the policy threshold has been raised, the demand for new projects in the industry is shrinking.

On the one hand, the downward trend of real estate dragged down the demand for cement, the willingness of enterprises to expand production was low, and the buyer's market of capacity indicators was reduced; on the other hand, a large number of idle capacity was concentrated to seek cash, and the competition on the supply side was intensified. Both ends of

supply and demand are rising and falling, and the price of capacity indicators continues to decline . At

a deeper level, the demand for "supplementary capacity" brought about by large-scale capacity replacement in the industry in the past two years has been basically released. With the reduction of new technological renovation projects, the practical value of capacity indicators has declined significantly, and the price has naturally declined-from more than 100 yuan to about 60 yuan/ton. Capacity indicators have changed from "hot commodities" to "hard to sell", which is the epitome of the industry's shift from expansion cycle to stock adjustment cycle.

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Correlation

Both ends of supply and demand are rising and falling, and the price of capacity indicators continues to decline.

2026-07-08 10:47:35