Cement Channel Check - Prices Increased 4% QoQ In Q1; Further Increase Unlikely: Nirmal Bang

A worker holds up processed cement at a factory. (Photographer: Dario Pignatelli/Bloomberg)

Cement Channel Check - Prices Increased 4% QoQ In Q1; Further Increase Unlikely: Nirmal Bang

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Nirmal Bang Report

Despite the second Covid-19 wave and localised lockdowns in Q1 FY22, not only the pan-India cement price was firm but it increased by 4.1% QoQ.

The price increase was witnessed in all the regions. The East region saw a sharp bounce back from lower prices at 11.5% QoQ whereas the Central region witnessed the least increase of 0.9% QoQ.

We believe this price increase was to offset the effect of lower demand (lockdown in April and May 2021) and to pass on the cost inflation.

However, we believe that further pricing uptick will take a breather now, primarily due to seasonality and also due to pressure from various customers who are opposing the price hikes.

Click on the attachment to read the full report:

Nirmal Bang Cement Sector- Channel Check -7 July 2021.pdf


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