MIIT: China cement prices fall on macro control

Byswb

Updated Thu, 20 May 2010 00:00:00 GMT

Cement and plate glass prices in China have been dropping for three months in a row, along with the government's policy of cooling down speculation in the real estate sector.

Statistics released by China's Ministry of Industry and Information Technology (MIIT) show that the average ex-plant cement price marked at 277.7 yuan/metric ton in April, down 0.8 yuan from March. The cement price in China's southwestern province Sichuan province and Chongqing municipality plunged 11 yuan and 9 yuan per metric ton, respectively.

The ex-plant price of plate glass averaged at 76.5 yuan/weight case in April, down 0.8 yuan from the previous month.

It reflects that the macro control measures the Chinese government adopted in recent term on the real estate market have curbed the demand expectation on related building materials. Investors will turn more prudent on related stocks in the industries.