At present, cement prices in many parts of the country are ushering in a new round of price rise. Recently, some cement manufacturers in Sichuan and Chongqing have increased 50 yuan / ton, averaging more than 550 yuan per ton.
In October 30th, Hou Linlin, an information analyst at Zhuo Chuang, told the daily economic news that the two quarter and fourth quarter of each year are the peak season of cement, especially in the fourth quarter, which is in short supply. With the introduction of the policy of limiting production in autumn and winter, the price of cement is expected to rise further.
Recently, due to environmental protection, capital construction and other factors, cement prices continue to rise. Profits and gross margins of leading companies in some industries have exceeded domestic leading housing prices.
The price of cement increased to a high level during the year.
The arrival of the traditional peak season has led to a rise in cement prices. Sichuan and Chongqing have shown strong performance in this round of cement price increases.
"Daily economic news" combing reporters found that most parts of Chongqing market cement up to 50 yuan / ton. The neighboring markets such as Guang'an and Suining will be synchronized up at the border between Sichuan and Chongqing. At present, some enterprises in southern Sichuan have already raised the price of cement, and the major enterprises in Deyang and Mianyang have also raised the cement price by 50 yuan / ton.
In recent years, the market demand in Chengdu has been rising, and the shipment of cement by various manufacturers is better. Some manufacturers have limited sales, and prices have risen sharply. In October 19th, most cement prices in Chengdu concentrated at 450 yuan / ton ~530 yuan / ton, and by October 30th, most cement prices reached 490 yuan / ton ~565 yuan / ton, up to 635 yuan / ton.
A hundred years of construction network analysis said, because the cement enterprises in Sichuan area staggering for more than 100 days in the whole year, the clinker inventory continued low storage location, and the recent market demand increased significantly, and the cement delivery volume of each manufacturer was tight, which played a supporting role for the cement price rise. According to the current market situation, the market demand in the late stage is increasing, and the cement price is expected to reach a new high.
Jiang Yuanlin, a cement industry analyst, told the daily economic news that in 2018, the cement clinker production line in Sichuan area was suspended for 100 days, the clinker design capacity decreased by 33 million tons, the clinker production capacity decreased significantly, the clinker production cost increased significantly, and clinker was the main raw material for cement production, so the cement production cost correspondingly increased significantly, and cement prices rose. 。 In recent years, the price of fuel materials has continued to rise, coupled with the overload of transportation and other reasons, which has led to a sustained rise in raw material prices and a significant increase in the cost of cement production. At the same time, coupled with environmental remediation, cement enterprises have stepped up technological transformation in environmental protection reform and increased the cost of cement production.
"Demand side, the fourth quarter belongs to the traditional selling season of cement market in Sichuan area. Most construction sites concentrate on rush hour, and cement demand increases greatly, so as to promote cement price rise." Jiang Yuanlin said.
Jiang Yuanlin said that at present, the P.O42.5 bulk cement market price in Sichuan Chengdu area is 540 yuan / ton ~550 yuan / ton, which belongs to the medium price in China. With the release of the late market demand, clinker inventory continues to decline, cement is in short supply, or even limited sale. It is estimated that in November, the price of cement in Sichuan will continue to rise by 30 yuan / ton ~50 yuan / ton.
In fact, after the national day, the price of cement increased, especially in East China and Sichuan and Chongqing. In October 25th, the main manufacturers of conch and Zhonglian in the southern part of Chuzhou, Anhui, announced that the price of cement for each variety should be raised by 20 yuan / ton. On the same day, some large factories in Yichang, Hubei, announced that the price of cement would be raised from 30 to 50 yuan / ton, and the price would be close to or exceed 500 yuan / ton. Up to now, the price of cement in many regions has returned to 500 yuan / ton.
Hou Linlin, an information analyst at Zhuo Chuang, told the daily economic news that the fourth quarter is the traditional peak season for cement, and that the price of cement increased in October this year is mainly due to supply and demand.
Leading industry profits exceed leading housing prices
The sharp rise in cement prices, especially for the performance of leading enterprises, can not be underestimated.
The three quarterly report of conch cement, the leading enterprise in the industry, shows that the net profit attributable to shareholders of listed companies is 20 billion 716 million yuan in the first three quarters of this year, an increase of 111.20% over the same period last year. Conch cement is mainly due to rising cement prices and increased profits.
Besides the conch cement, the performance of many cement listed companies has increased significantly. Cement prices have become a direct promoter of cement companies' performance. The net profit of Huaxin Cement in the first three quarters was 3 billion 411 million yuan, an increase of 224.98%. Jidong Cement net profit in the first three quarters was 1 billion 415 million yuan, an increase of 111.7% over the same period last year.
Huaxin Cement said that the main reason was the output and capacity of the industry, and the relationship between supply and demand had improved. The prices of cement and clinker in the main products increased considerably compared with the same period last year.
In October 30th, a staff member of Huaxin Cement Securities Department told the daily economic news that the current price increase is still affected by the peak production and the strictness of environmental protection. It should remain in the present position from now to 2020. In its view, there is no possibility of a sharp decline in cement prices, and there is still room for price rise later in the year.
On the top of the cement, Dongguan Qu Hui told reporters that the cement price increase is a market behavior. The demand for normal cement is rather large and the supply is scarce. The supply side reform in the past two years has eliminated a number of backward production capacity, and the environmental protection requirements in many areas are also very strict. At present, the national cement market is showing an upward trend. It is normal for cement prices to fluctuate very much. From the international point of view, the price of cement is reasonable at present.
"The cost of cement per ton now is about 200 yuan / ton, and gross profit margin is around 40%." Qu Hui said.
The price of cement has gone up sharply, and the profitability of the leading enterprises in the industry has even exceeded some of the real estate enterprises that are well known to the public.
According to Vanke A10 25 quarterly report released on 2018 three, its net profit is 13 billion 946 million yuan, an increase of 31.63% over the same period last year. The net profit of conch cement in the first three quarters was 20 billion 281 million yuan. It seems that the first three quarters of this year, cement leading conch than real estate leader Vanke earn more than 6 billion 335 million yuan.
In terms of gross profit margin, from the gross profit margin of several large cement enterprises in China, the cement gross profit rate disclosed by the conch cement in 2018 semi annual report is over 45%. The half year cement reported that the gross profit margin of the cement industry is 44.39% and the gross profit margin of cement is 43.62%.
The first half of 2018, Vanke A comprehensive gross profit margin was 34.4%, Poly Real Estate in 2018 semi annual report gross margin of 35.39%.
With the recent rise of cement prices, the gross profit margin of industrial enterprises has actually been higher.