Construction | RSA Cement Market Update - Jul '19
Imports are flat with a 2% y/y increase recorded for May ‘19. Our price survey noted broad-based price increases which we believe is due to the introduction of carbon taxes and the bi-annual increases expected in the industry. Interestingly, our survey picked up Dangote Cement in KZN. Dangote owns 64% of Sephaku Cement and Sephaku is using the brand to combat imports in the region. Our survey notes the Dangote brand is priced below the imported cement price. Building plans passed suggest further declines in cement volumes going into CY '20. Further, the declining demand in the Western Cape is negative for PPC given the region has helped shield the Group from the volume declines we have seen across the remainder of the country.
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