As stated by Emkay Global Financial Services, cement companies might hike their prices between Rs 10-30/bag.
The price of cement bags increased by Rs 3-4/bag last month. On a month-on-month basis, cement prices have increased by 2-3 percent in the East and South geographical areas, a 1 percent increase in the West, and a decline of 1-2 percent is observed as per the reports in the north and center regions.
” Cement companies are attempting price hikes of Rs10-30/bag across regions on November 22. Absorption of these price hikes will be uncovered over the next few days, ” IANS quoted Emkay Global as saying.
The decline was due to the late exit of the monsoon and labor shortage during the festive season. This situation is considered to be close soon as the demands are rising and there are no shortcomings during the festive season.
” The international petroleum coke prices are down by about 30 percent from the peak of $195/tonne. Further, the dip in fuel prices is expected to provide cost savings of at least 150-200/tonne from Q3FY23, ” Emkay Global said.
