China cement sector outlook will improve FY10
Deutsche Bank says slowing FAI growth in China next year doesn’t mean weaker cement demand; instead, believes Chinese cement supply/demand outlook will improve in FY10, driven by on-going infrastructure construction (many projects already running behind schedule), further recovery in real estate investment. House expects more old cement capacity to be closed, thus incremental demand will outpace supply additions, leading to better cement pricing outlook; tips cement price will rise 5% in FY10 and FY11. Published under Cement News
