The Chinese cement industry is in for a turbulent ride, according to analysts at Morgan Stanley, as falling construction starts and infrastructure investment affect demand.

"Slower sales momentum, rise in inventory and tighter credit conditions will drive developers to start destocking, which would undermine new construction starts in 2014 and even into 2015," the investment bank said. Fewer land purchases by developers will also hit funding to local government and therefore infrastructure investment. (Source: Dow Jones).