Cement Price Hikes Taken In Early March Partially Rolled Back: Nirmal Bang
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Nirmal Bang Report
Based on our recent channel checks, after taking price hikes in the first week of March, cement companies have seen some correction in prices in recent weeks.
On a fortnight basis, the pan-India weighted average cement price has decreased by 1.9% to Rs 344/bag. However, on month-on-month basis, the price is still 2.7% higher.
The price decline is primarily due to the volume push carried out by almost all cement players as the end of FY21 approaches and due to the rollback of hikes announced earlier this month.
On the other hand, demand has been strong from all sectors based on our channel feedback.
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