Cement companies face hard truths as revival looks tough due to Covid-19

As with steel so also with cement, Asia hosts the world’s two largest producers in China and India. But in both industries China soars past its neighbour in the south by enormous margins in terms of capacity, production, and domestic market size. In steel, China’s 2019 capacity, as estimated by S&P Global Platts, is 1.21 billion tonnes (bt) against India’s around 150 million tonnes (mt). No surprise in cement either, where Indian’s capacity is around 545 mt compared with China’s approximately 3.5 bt. In normal times, both countries would have needed more and more .....

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