Construction | RSA Cement Market Update - Apr '19
Feb '19 appears positive for local producers given a 51% y/y decline in imports overall, with none landing in the Western Cape. However, we do not believe the decline will continue as our April price survey picked up imported cement (Western Cape included). Unsurprisingly, prices declined in the coastal markets in April, following price increases implemented in March. Further, low single-digit price declines occurred in the inland markets. However, prices still remain above levels seen in Jan ‘19. Regardless, the inland market outlook remains negative due to a 12% y/y decline in building plans passed recorded in Jan '19 (coastal markets increased 16% y/y).
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