China Galaxy Securities says June cement demand was seasonally weak due to high temperatures and Meiyu rains; clinker-line shutdowns varied by region as firms accelerated capacity curtailment and clinker inventories declined. Cost pressures in June prompted regional attempts to lift prices, leaving the national average cement price slightly up MoM. Looking ahead, off-season demand in July is unlikely to support prices, the marginal effect of staggered production controls will fade, and cost-side

China Galaxy Securities says June cement demand was seasonally weak due to high temperatures and Meiyu rains; clinker-line shutdowns varied by region as firms accelerated capacity curtailment and clinker inventories declined. Cost pressures in June prompted regional attempts to lift prices, leaving the national average cement price slightly up MoM. Looking ahead, off-season demand in July is unlikely to support prices, the marginal effect of staggered production controls will fade, and cost-side support will lessen; the firm expects cement prices to trend weaker at low levels in July.