Construction | RSA Cement Market Update - Jan '19
Despite a slowdown in imports recorded in Nov '18, CY '18 is on track to have the third highest level of imports (c.1mt) since CY '10. Our Jan '19 retail price survey noted some price declines among producers who increased pricing in Dec ‘18. Although prices remain higher than Nov ‘18, this illustrates the challenge to sustaining price increases for cement producers given competitive pressures and a decline in aggregate cement demand. We believe the markets most likely to witness larger price increases in CY '19 are the Northern Cape, Free State and Mpumalanga suggested by continued increases in building plans passed. Despite the positive price outlook, we estimate that these three markets will only account for c.9% of cement sold in CY '19
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