Diversified Industrials, Construction & Materials
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Cement Import Monitor
Key message: July and August imports have been relatively high given the looting and port issues over the period. Government localisation policies will have minimal impact on imports.
The South African Cement Industry
A Deep Dive In this presentation we have an in-depth look at the South African Cement industry (including aggregates and ready-mix). Download presentation here
Eskom – The Rough Guide (2021)
Key message: It is clear that either significantly higher tariffs (politically sensitive) or debt relief is required for Eskom to become sustainable. The IPP program is starting the shift to green energy (good) but the financial burden (on top of paying off Medupi and Kusile) is high (bad). Concessional green finance could help ease these issues.
Diversified Industrials
Key message: The FY21 reporting season was significantly more optimistic than recent years. The post-Covid bounce has been followed by signs of a cyclical recovery in the mining and industrial sector.
SA Economic and Restructuring Plan
Some specific comments bode well for the Construction sector, although the overall message is typical in grand plans with little detail or timelines.
Auto Anemometer: New Vehicle Sales – May 2020
Key message: Vehicle sales recover slightly in May after a total collapse in April.
Corona Chronicles – Charts to Watch
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