Cement Sector Check - Prices Holding Up: IDBI Capital

Laborers unload cement bags from freight trains at the Shakur Basti station in New Delhi, India (Photographer: Prashanth Vishwanathan/Bloomberg)

Cement Sector Check - Prices Holding Up: IDBI Capital


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IDBI Capital Report

Our interaction with cement dealers across India suggests that average cement price at an all India level has been flat month-on-month in August 2021.

Cement price has remained steady versus our expectation of weakness led by the monsoon.

Recall in Q1 FY22 average cement price is up 6% QoQ and in Q2 FY22 so far all India average cement prices are flat QoQ.

Cost continues to move northward with imported coal price up 9% month-on-month in August-21 and Q2 FY22 (till August) imported coal prices are up 34% QoQ.

Freight cost index is up 2% month-on-month in July-21.

Cement production in India for the month of June-21 has increased by 4.3% YoY at 27.6 million tonne. Low base has led to volume growth.

Click on the attachment to read the full report:

IDBI Capital Cement Sector Update.pdf


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