http://www.steelguru.com/indian_news/Cement_prices_in_India_up_by_15pct_in_11_months_CRISIL/250965.html
Cement prices in India up by 15pct in 11 months - CRISIL - 25096
CRISIL Research said that lower demand for residential real estate and slower pace of execution of infrastructure projects weighed down demand for cement in the April 2011 to January 2012 period. Demand for cement grew at a subdued pace of 6.3% YoY.
With huge capacity additions during casino pokies games the same period, operating rates declined to 73% as compared to 77% in the previous year. Despite this fall in operating rates, cement prices rose by 15% YoY. This was mainly due to production cuts by cement manufacturers in the South, the region which witnessed the maximum price increase.
In January 2012, the average pan-India retail cement price marginally corrected by around 1 per cent on a month on month basis to INR 283 per bag. Mr Ajay D"Souza head of CRISIL Research said that “We believe that the pan-India cement price is likely to remain firm in February 2012, despite the rollback of the hike in coal price by Coal India.”
Arun Gupta
