Cement industry set to grow 3% in Q3

08 Jan 2024 CW Team

In a recent report, Jefferies says a notable decline in cement prices across all regions in December 2023, registering a range between 1-2%. This pricing adjustment sets the stage for a meticulous examination of the sector?s overall performance.

According to the report, the anticipated growth for the cement sector in the third quarter of the fiscal year 2023-24 is pegged at 3% Quarter-over-Quarter (QoQ), aligning seamlessly with initial expectations. This steady growth projection underscores a measured and consistent trajectory for the industry.

Highlighting regional variations in growth, Jefferies has identified the Southern region to experience the highest growth in Q3, while other regions are expected to witness growth ranging from flat to 3%. This regional divergence adds an intriguing dimension to the sector?s performance metrics.

Jefferies observed a mixed demand trend in December, following the sub-10% Year-over-Year (YoY) growth witnessed in the combined months of October and November 2023. This fluctuation signals a certain level of unpredictability in the market, keeping industry participants on alert.

Despite the recent decline in prices, the report underscores optimistic sentiments among dealers, with many anticipating an improvement in cement prices from the third week of January. This forward-looking perspective suggests a potential rebound in the market and offers a glimmer of optimism for stakeholders.

A notable positive factor outlined in the report is the easing of energy costs, deemed favorable for the cement sector. Given that energy costs constitute a significant portion of production expenses, any relief in this area is likely to positively impact the overall operational margins of cement manufacturers.

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