Cement Channel Check - Pricing Largely Resilient Despite Monsoon Season: Nirmal Bang
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Nirmal Bang Report
Cement prices across the country witnessed a marginal seasonal correction in August 2021 amid a sharp increase in various input costs.
All-India cement prices declined by 1.4% month-on-month in August 2021 and are now down by just 1.9% on QoQ basis.
This is on the back of ~6% QoQ increase in realisations for our coverage universe in Q1 FY22.
While pricing is largely resilient across various regions, we have seen sharp corrections in some parts of South India and West India.
Pricing in Central India remained stable whereas West and South saw some correction in prices.
In West India, Pune and Nagpur saw a sharp decline in cement prices whereas in South India, Hyderabad reported a sharp drop in prices.
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