Cement firms hope for better demand
Cement

Cement firms hope for better demand

After a disappointing second quarter in which margins fell to multi-quarter lows, cement manufacturers will see some relief as cost pressures ease. Analysts believe that a recovery in cement demand and the continuation of price increases will be critical to earnings growth.

Prices for imported coal fell 19 per cent in the last month, according to analysts' data, after remaining elevated at $250-350 per tonne between March and October. Pet coke prices have risen slightly since mid-October, but analysts say they are still 29 per cent lower than first-quarter prices on average.

According to Motilal Oswal Financial Services analysts, the decline in coal and pet coke prices should result in an average cost reduction of at least Rs 150 per tonne in Q3 FY23.

Also read:
East Coast Road in TN to be widened in Rs 70 bn project
SWAMIH fund okays Rs 2.07 bn for stalled Noida project

After a disappointing second quarter in which margins fell to multi-quarter lows, cement manufacturers will see some relief as cost pressures ease. Analysts believe that a recovery in cement demand and the continuation of price increases will be critical to earnings growth. Prices for imported coal fell 19 per cent in the last month, according to analysts' data, after remaining elevated at $250-350 per tonne between March and October. Pet coke prices have risen slightly since mid-October, but analysts say they are still 29 per cent lower than first-quarter prices on average. According to Motilal Oswal Financial Services analysts, the decline in coal and pet coke prices should result in an average cost reduction of at least Rs 150 per tonne in Q3 FY23. Also read: East Coast Road in TN to be widened in Rs 70 bn project SWAMIH fund okays Rs 2.07 bn for stalled Noida project

Next Story
Infrastructure Urban

VECV to Manufacture Volvo Group’s Advanced AMTs in India

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, announced an investment of Rs 5.44 billion to produce and assemble Volvo Group’s 12-speed Automated Manual Transmission (AMT). The greenfield facility will be set up at Vikram Udyogpuri Integrated Industrial Township near Ujjain, Madhya Pradesh, and will cater to India and select Asia-Oceania markets.This investment marks a new milestone in the 18-year VECV-Volvo collaboration, which has already made VECV a global hub for Volvo Group’s 5 & 8 Litre (MDEP) engines since 2013, reinforcing the Make in Ind..

Next Story
Products

Action TESA Drives Shift from Plywood to Engineered Wood Solutions

Action TESA, a leading player in India’s panel industry, is spearheading the market transition from traditional plywood to engineered wood solutions such as Moist Master, HDHMR, and Boilo. These high-performance boards are redefining modular furniture, kitchen, and decorative applications with superior durability, design flexibility, and finish quality.Engineered wood offerings from Action TESA provide consistent quality, dimensional stability, and smooth surfaces, unlike plywood, which can have knots or gaps. The Moist Master, HDHMR, and Boilo BWP FR boards ensure excellent machinability, m..

Next Story
Infrastructure Urban

CREDAI-MCHI Donates Rs 30.65 Mn for Maharashtra Flood Relief

CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region, has extended Rs 30.65 million to the Chief Minister’s Relief Fund to support rescue and rehabilitation efforts in flood-affected areas of central Maharashtra and neighbouring regions.The contribution was presented to Chief Minister Devendra Fadnavis by Sukhraj Nahar, President, and Rushi Mehta, Secretary, CREDAI-MCHI, in the presence of several leading developers from the Mumbai Metropolitan Region.A total of 44 member developers participated in this collective effort, underlining the real estate industry..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?