BOT announced key economic data for the month of October including the country’s cement sales of 2.45Mt, representing a 22.3% increase YoY and 2% QoQ.
The 22% YoY growth for cement consumption for the month of October was considered high. For the first ten months of this year, cement consumption expanded 13.9% from the same period of last year. Cement sales for the rest of this year is expected to expand at double digit growth, resulting in this year’s growth of at least 12% compared with the industry’s forecast of 8-10%.
Strong domestic cement consumption will be positive to cement producers. The Siam Cement (SCC) and TPI Polene (TPIPL) are preferred.