Cement Dealers Raise Prices Amid Demand Surge

11 Dec 2024 CW Team

Cement prices across India have seen an upward trend this December after remaining flat for nearly five months, a period that strained dealer margins and affected cement company profits. Dealers attribute the hikes to increased demand from the real estate sector, spurred by improved labour availability post-festive season, and growing infrastructure projects. In western India, prices rose by Rs 5-10 per 50 kg bag, with current rates ranging between Rs 350-400, according to dealers and B2B platform listings. Northern regions, including Delhi, witnessed a Rs 20 per bag increase, with prices now between Rs 340-395, depending on brand and quality. Southern India, traditionally known for its lower cement prices, experienced a sharp hike of up to Rs 40 per bag, bringing rates to approximately Rs 320. Eastern India, too, saw a rise after months of stability, with prices increasing by Rs 30 per bag, fuelled by post-festive momentum in real estate and infrastructure sectors. An InCred Equities report suggests that prices will climb by Rs 10-15 per bag across all regions this month, as dealers feel the market has "bottomed out." The report highlights that while government capital expenditure is expected to bolster demand in the latter half of FY25, aggressive price hikes may face resistance due to increasing production capacities. Industry analysts also note that the full impact of these price hikes may be limited. Attempts in September to raise prices failed, and while improving government spending post-elections signals potential price stability, large players might focus on increasing market share rather than pushing for substantial price changes. (ET)

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