A worker unloads a sack of cement from a freight train in Mumbai, India (Photographer: Kuni Takahashi/Bloomberg)  

India Cements Expects Higher Prices To Sustain On Growing Demand

Cement prices are expected to increase on the back of growing demand, according to India Cements Ltd.’s Vice Chairman and Managing Director N Srinivasan.

“The current price rise is on the basis of fundamentals. The utilisation levels are going up and the demand is growing,” Srinivasan told BloombergQuint in an interview. “Hence, these potencies are there for the prices to remain firm and move up.”

Infrastructure spending and private sector consumption had “propelled” demand in the last year, said Srinivasan, adding that he expects the volume demand to grow at 7-10 percent for financial years ending 2020 and 2021.

In the last two years , we have lost a lot of prices, so in a sense you can also look at it as a correction that is taking place.
N Srinivasan, Vice Chairman and Managing Director, India Cements Ltd.

Watch the full interaction here