For the Quarter Ending March 2026
Portland Cement Prices in North America
- In the United States, the Portland Cement Price Index rose quarter-over-quarter in Q1 2026, driven by elevated producer prices.
- The Portland Cement Production Cost Trend faced upward pressure as the Producer Price Index rose 4.0% in March 2026.
- The Consumer Price Index increased 3.3% in March 2026, elevating logistics costs for Portland Cement distribution networks.
- Industrial production grew 0.7% in March 2026, supporting the Portland Cement Demand Outlook for industrial infrastructure projects.
- Retail sales expanded 4.0% in March 2026, bolstering Portland Cement consumption for commercial construction applications.
- In March 2026, unemployment reached 4.3%, and consumer confidence hit 91.8, sustaining underlying residential Portland Cement demand.
- The Manufacturing Index expanded in March 2026, driving capital expenditure and structural concrete requirements for new facilities.
- The Portland Cement Price Forecast remained elevated throughout Q1 2026 due to persistent energy and infrastructure material requirements.
Why did the price of Portland Cement change in March 2026 in North America?
- Retail electricity costs strengthened year-over-year in Feb 2026, directly increasing energy-intensive Portland Cement manufacturing expenses.
- Public highway construction spending strengthened in Jan 2026, driving robust public sector demand for Portland Cement.
- Central Appalachian coal costs inched up in Feb 2026, creating higher kiln fuel expenses for producers.
Portland Cement Prices in APAC
- In China, the Portland Cement Price Index fell quarter-over-quarter in Q1 2026, amid plummeting real estate demand.
- During March 2026, CPI rose 1.0%, and PPI increased 0.5%, reflecting rising factory-gate input costs.
- The Manufacturing Index expanded while industrial production grew 5.7% in March 2026, supporting industrial concrete demand.
- In March 2026, retail sales grew 1.7%, and unemployment reached 5.4%, suppressing commercial and residential construction.
- Consumer confidence hit 91.6 in February 2026, delaying home purchases and weakening the Portland Cement Demand Outlook.
- Real estate investment and newly started floor space plummeted throughout Jan-Mar 2026, reducing structural concrete consumption.
- The Portland Cement Production Cost Trend stabilized as raw coal production remained flat through March 2026.
- Portland cement production plummeted in March 2026, while shipment rates weakened amid sluggish January 2026 drawdowns.
- The Portland Cement Price Forecast remained subdued in Q1 2026 due to the protracted property crisis.
Why did the price of Portland Cement change in March 2026 in APAC?
- Plummeting real estate investment and newly built commercial building sales suppressed demand during Jan-Mar 2026.
- Sluggish inventory drawdowns and weakened weekly cement shipment rates pressured the market in January 2026.
- Raw coal production stabilized and remained flat through March 2026, limiting upward production cost pressures.
Portland Cement Prices in Europe
- In Germany, the Portland Cement Price Index rose quarter-over-quarter in Q1 2026, driven by surging energy costs.
- The Portland Cement Production Cost Trend increased in March 2026 as inflation reached 2.7 percent.
- Despite producer prices declining by -0.2 percent in March 2026, the Portland Cement Price Index climbed.
- The Manufacturing Index expanded in March 2026, supporting a positive Portland Cement Demand Outlook for infrastructure.
- Industrial production remained stagnant at 0.0 percent in February 2026, while the energy-intensive industry weakened in January 2026.
- Retail sales grew by 0.7 percent in February 2026, mildly supporting commercial construction demand in Q1 2026.
- A stable unemployment rate of 4.2 percent in February 2026 sustained residential construction foundations in Q1 2026.
- Consumer confidence dropped to -24.7 in March 2026, negatively impacting residential building projects during Q1 2026.
- The Portland Cement Price Forecast remained elevated in Q1 2026 due to strengthened carbon-intensive import costs.
Why did the price of Portland Cement change in March 2026 in Europe?
- Natural gas and electricity feedstock costs surged in late February and March 2026 due to disruptions.
- Firm Portland Cement consumption strengthened due to robust public infrastructure development demand during Q1 2026.
- European carbon emission allowance costs spiked to a multi-year high for producers in January 2026.
For the Quarter Ending December 2025
Portland Cement Prices in APAC
- In China, the Portland Cement Price Index fell quarter-over-quarter in Q4 2025, due to subdued consumer demand and negative producer price index.
- Portland Cement production costs increased in Q4 2025, driven by strengthening coal and natural gas feedstock prices.
- Overall Portland Cement demand was mixed in Q4 2025, with weak real estate offset by infrastructure investment.
- China's industrial production grew by 5.2% in December 2025, and the Manufacturing Index expanded, supporting industrial construction.
- Real estate market demand weakened significantly in Q4 2025, and homebuyer sentiment remained subdued.
- Low CPI (0.8%) and retail sales (0.9%) in December 2025 reflected weak consumer spending, impacting residential construction.
- A moderate unemployment rate of 5.1% in December 2025 indicated a stable labor market, supporting some consumer confidence.
- Cement production decreased in December 2025, as producers adjusted capacity to align with declining demand.
Why did the price of Portland Cement change in December 2025 in APAC?
- Low CPI (0.8%) and retail sales (0.9%) in December 2025 reflected weak consumer demand.
- Negative PPI (-1.9%) in December 2025 indicated weak industrial demand and reduced pricing power.
- Strengthening coal feedstock costs in Q4 2025 increased production expenses for Portland Cement manufacturers.
Portland Cement Prices in Europe
- In Germany, the Portland Cement Price Index declined quarter-over-quarter in Q4 2025, influenced by weakening demand signals.
- Portland Cement production costs eased in December 2025 as natural gas prices moderated compared to November 2025.
- Demand for Portland Cement faced headwinds as building permits weakened in November 2025 compared to October 2025.
- The Manufacturing Index was Contracting in December 2025, indicating reduced industrial construction activity.
- Industrial Production year-on-year grew by 0.8% in October 2025, offering some demand support for cement.
- Consumer confidence remained pessimistic at -17.5 in December 2025, dampening residential construction demand.
- Public infrastructure and energy transition projects provided a stabilizing effect on cement consumption throughout 2025.
- The unemployment rate stood at 6.2% in December 2025, negatively impacting overall construction demand.
- Producer prices year-on-year declined by 2.5% in December 2025, reflecting broader industrial price trends.
Why did the price of Portland Cement change in December 2025 in Europe?
- Producer prices year-on-year declined by 2.5% in December 2025, reflecting weakening industrial demand.
- Natural gas and thermal coal prices eased in December 2025, reducing Portland Cement production costs.
- Weakened building permits in November 2025 and contracting manufacturing activity lowered overall demand.
Portland Cement Prices in
North America
- In United States, the Portland Cement Price Index rose quarter-over-quarter in Q4 2025, influenced by rising producer input costs in November 2025.
- Portland Cement production costs increased in Q4 2025, as natural gas feedstock costs gradually rose in late 2025.
- Overall construction spending inched up in October 2025, supporting demand, despite housing starts softening in October 2025.
- Demand was reinforced by a 2.0% year-over-year increase in industrial production in December 2025.
- Consumer Price Index rose 2.7% year-over-year in December 2025, indicating upward pressure on operational costs.
- Federal infrastructure programs reinforced Portland Cement demand in Q4 2025, bolstering construction activity.
- Inexpensive imports continued to constrain the U.S. cement industry in 2025, impacting domestic pricing.
- Retail sales increased 3.3% year-over-year in November 2025, indirectly supporting commercial construction.
- The unemployment rate was 4.4% in December 2025, supporting a strong labor market and construction activity.
Why did the price of Portland Cement change in December 2025 in North America?
- CPI rose 2.7% year-over-year in December 2025, increasing Portland Cement operational costs.
- Natural gas feedstock costs gradually rose in late 2025, increasing Portland Cement production expenses.
- Industrial production increased 2.0% year-over-year in December 2025, supporting Portland Cement demand.
For the Quarter Ending September 2025
North America
- In the United States, Portland Cement Price Index fell in Q3 2025, driven by weakened construction.
- Production costs faced upward pressure from a 2.6% PPI increase in August 2025.
- Demand softened due to contracted residential construction activity in Q3 2025.
- US industrial production increased 0.1% year-over-year in September 2025, limiting demand.
- Natural gas prices strengthened year-over-year in Q3 2025, despite easing in September.
- Consumer confidence declined to 94.2 in September 2025, indicating bearish housing sentiment.
- Low 4.3% unemployment and 5.42% retail sales increase in September 2025 supported some commercial demand.
- US exports of Cement Articles decreased in July 2025; imports increased, affecting supply.
- Data center construction surged in Q3 2025, providing a specific growth area.
- A 3.0% CPI increase in September 2025 suggested higher interest rates, impacting construction financing.
Why did the price of Portland Cement change in September 2025 in North America?
- Weakened nonresidential construction starts in September 2025 reduced overall Portland Cement demand.
- A 3.0% CPI increase in September 2025 suggested higher borrowing costs, dampening construction.
- Natural gas prices eased in September 2025, offering some relief to Portland Cement production costs.
Europe
- Germany's Portland Cement Price Index remained stable in Q3 2025, influenced by mixed demand and easing energy costs.
- Portland Cement production costs were mixed; natural gas eased in Q3 2025, but thermal coal prices strengthened in August.
- Industrial producer prices decreased 1.7% in September 2025, from lower energy costs, impacting Portland Cement.
- Portland Cement demand was bearish; industrial production declined 1.0% in September 2025, and Manufacturing Index contracted.
- Overall construction output declined in September 2025, but dwelling permits increased in July and September, suggesting future demand.
- Retail sales rose 0.2% in September 2025, supporting consumer construction; unemployment remained stable at 6.3%.
- Robust European natural gas storage, over 80% full by September 2025, stabilized Portland Cement energy feedstock.
- German cement manufacturing faces long-term business decline; broader European chemical market restructuring is predicted for 2025.
Why did the price of Portland Cement change in September 2025 in Europe?
- Industrial producer prices decreased 1.7% in September 2025, driven by lower energy costs.
- Industrial production declined 1.0% in September 2025, signaling reduced industrial demand.
- Natural gas feedstock costs eased in Q3 2025, stabilizing in September, reducing operational expenses.
APAC
- In China, the Portland Cement Price Index fell quarter-over-quarter, influenced by deflationary pressures and weak construction demand.
- The Portland Cement Price Forecast suggests continued downward pressure from contracting manufacturing and sluggish real estate.
- Portland Cement production costs saw declining thermal coal prices; natural gas prices stabilized in Q3 2025.
- Portland Cement demand outlook is bearish, with CPI -0.3% and PPI -2.3% in September 2025.
- Despite industrial production growing 6.5% in September 2025, the Manufacturing Index was contracting, impacting construction.
- Consumer confidence at 89.6 in September 2025, with plummeting property viewings, impacted residential construction.
- Retail sales grew 3.0% and unemployment was 5.2% in September 2025, but sentiment remained cautious.
- Cement producers curbed production capacity in Q3 2025 to align with weaker demand, preventing oversupply.
Why did the price of Portland Cement change in September 2025 in APAC?
- Deflationary pressures, with CPI -0.3% and PPI -2.3% in September 2025, weakened overall demand.
- Sluggish real estate market activity and plummeting property viewings reduced construction materials demand in Q3 2025.
- Cement producers curbed production capacity in Q3 2025 to address oversupply from contracting manufacturing.
