Cement prices are expected to recover after the monsoon

Cement prices are expected to recover after the monsoon closes because of a probably pick-up in construction activity, the Centre for Monitoring Indian Economy ( CMIE) has said.

‘We expect cement prices to recover after the rains. With construction activity expected to pick up post- monsoon, need is likely to increase,’ the CMIE mentioned in its monthly review here.

Cement prices have decreased amid sluggish demand from May onward. Prices in the Mumbai, Kolkata and Delhi markets are down from their peak levels of March-April, 2011, it said.

Costs in the Mumbai market were decrease to Rs276 per 50 kg bag in July, 2011, from Rs283 per 50 kg bag in April. In the Delhi market, cement prices declined to Rs256 per 50 kg bag from the peak level of Rs261 per 50 kilograms bag in April.

In a similar fashion, costs in the Kolkata market dropped to Rs247 per 50 kg bag during the month from the high level of Rs298 per 50 kilograms in March.

However, costs in the southern region bucked the downward trend and stayed stable. Costs in the Chennai and Hyderabad market remained almost steady at their high of April, 2011, in the month of July, 2011.

Meanwhile, cement dispatches grew by 10.1pct in July, 2011.

All- India cement dispatches (including ACC and Ambuja Cement) reported robust y-o-y increase of 10.1pct in July, 2011. Cement demand improved y-o-y in all regions except for the southern region in July, 2011.

The business reported double-digit volume growth for the first time in 6 months in July, 2011, primarily due to the lower base (in July, 2010, cement dispatches had declined by 3.9pct due to heavy rains) and a modest improvement in cement demand

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