Emkay Global said in a recent industry report that the average pan-Indian cement price increase in October 2022 was about Rs.3-4/bag.
On a monthly basis (MoM), prices rose 2-3 percent in the east and south, and about one percent in the west; while it fell 1-2 percent in the northern and central regions, the report said.
“Cement companies are trying to see price increases of Rs10-30/bag in different regions on Nov. 22. The absorption of these price increases will be discovered in the coming days,” said Emkay Global.
Industry volumes are likely to have fallen in October 22 with a high single-digit year-over-year and a low double-digit MoM reflecting a high base, as the holiday season was spread over October-November last year.
According to the report, delayed monsoons and labor shortages due to holidays affected demand on Oct. 22.
Demand is expected to improve in the coming weeks as all major festivals come to an end and a busy construction season begins.
Cost pressures are expected to ease for industry players in the coming quarters and industry margins are expected to bottom out in the second quarter, with cost spikes, higher cement price exits and construction activity picking up in the coming quarters, Emkay said. Global .
International petcoke prices are down about 30 percent from their $195/ton peak. Furthermore, the dip in fuel prices is expected to deliver cost savings of at least Rs 150-200/ton as of Q3FY23, Emkay Global said.
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