Pakistan’s cement industry is expected to record mixed performance in January 2026, according to a forecast released by Topline Pakistan Research, reflecting both seasonal pressures and underlying demand growth.
Local cement dispatches are projected to decline by 11 per cent MoM in January due to seasonal slowdown and adverse weather conditions. Analysts estimate local sales of around 3.32Mt for the month, representing a four per cent decrease YoY. The outlook is based on actual dispatch data from the first 18 days of January, which shows local sales of 1.93Mt. Official industry figures are expected from the All Pakistan Cement Manufacturers Association (APCMA) in the first week of February.
Despite the monthly dip, local cement dispatches for the first seven months of FY26 are forecast to increase by 11 per cent YoY, supported by steady construction activity. Export performance is expected to strengthen sharply in January, with exports rising by 43 per cent YoY, driven mainly by sea-borne shipments from southern producers. In contrast, exports from northern companies remain subdued due to border disruptions and political instability along the Afghan frontier.
Overall cement sales in January are forecast at about 4.15Mt, up three per cent YoY but down three per cent from December 2025. Capacity utilisation is expected to average 58 per cent, slightly below December levels. Cement prices in the northern region are forecast to remain stable at around PKR1380 per bag (US$4.93/bag).
By Abdul Rab Siddiqi, Pakistan
