B[The clearance of low-end production capacity is accelerated, and market concentration in the cement industry further increases] On October 10, investment in real estate and infrastructure continued to weaken, causing the cement industry to enter a period of deep adjustment. At present, the industry's losses have reached 60%, and a large number of small and medium-sized cement companies are trapped in operating difficulties such as price inversion, high inventory, and poor payment collection. According to incomplete statistics, more than 20 cement and grinding companies have entered bankruptcy-related procedures this year, and the debt risks of small and medium-sized entities have been concentrated and transmitted to the upstream industry chain. Industry insiders judge that the short-term industry repayment and bad debt environment is difficult to fundamentally improve, and there is only some room for small repairs. Under the superposition of multiple policies such as peak-shifting production, ultra-low emission transformation, and carbon constraints, small and medium-sized backward production capacity is being cleared at an accelerated pace. Industry consolidation will be dominated by mergers and acquisitions, supplemented by bankruptcy liquidation, and market concentration continues to converge towards the leader. (Securities Times) B[The cement sector moved higher and Dieffenbachia rose by the daily limit] On September 8, the cement sector moved higher during the session, Dieffenbachia rose by the daily limit, Yatai Group approached the daily limit, Tianshan Shares, Huaxin Building Materials, Shangfeng Materials, BBMG Jidong, etc. surged higher. In terms of news, since September, there have been numerous calls for "anti-involution" in the cement industry. In just one week, six provincial-level cement associations in the three northeastern provinces, Gansu, Inner Mongolia, and Shandong have spoken out intensively, all pointing to one core: resisting low-price dumping and getting out of the quagmire of price wars. B[National Carbon Market Quota Allocation Related Plan Issued] On September 3, the Ministry of Ecology and Environment recently issued the "National Carbon Emissions Trading Market Total Quotas and Allocation Plan for the Power Generation Industry in 2025 and 2026 and the Steel, Cement, and Aluminum Smelting Industry in 2026" to deploy the allocation scope, calculation method, issuance and settlement of quotas for relevant industries. The plan proposes to scientifically formulate the total quota and allocation plan based on the national greenhouse gas emission control goals and carbon peak carbon neutral implementation path, taking into account factors such as the macroeconomic situation, historical emissions, market adjustment needs, and carbon emission data management foundations, and gradually coordinate with production capacity replacement and output regulation policies to strengthen carbon emission control requirements for illegal and backward production capacity and self-owned power plants, and promote orderly and safe carbon reduction in the industry. (Xinhua News Agency)
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