China's Cement Industry Faces Continued Challenges in 2024
China's cement industry continues to grapple with overcapacity and market pressures, with no significant improvement in supply and demand expected in 2024.
The cement industry in China is undergoing a challenging phase, with no significant improvement in supply and demand dynamics anticipated in 2024. The industry faced various difficulties in 2023, including overcapacity, supply-demand conflicts, and insufficient downstream demand, leading to intensified competition.
In 2023, the total cement production in China was 18.67 billion tons, a slight decrease of 0.9% compared to the previous year. This reduction in production is seen as a response to the ongoing market challenges. The industry also experienced a decrease in profitability, with the average price of cement falling by 15% compared to the previous year.
Source:
China Economic Net