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

Patna Plans Green Zones to Tackle Rising Pollution Levels

Authorities have emphasised the urgent need for developing more green zones in Patna, which is increasingly becoming a heat-stressed urban area dominated by concrete structures. Expanding green spaces, such as the Tarumitra bio-reserve, is seen as a way to improve the environment and reduce temperatures.Plans under consideration include planting medicinal plants, implementing rainwater harvesting systems, constructing eco-friendly homes, and promoting solar energy usage. If implemented effectively, these measures are anticipated to help reduce both air and water pollution.In a collaborative ef..

Next Story
Infrastructure Transport

Environment Ministry Clears Stage I Nod for Coastal Road Phase II

The Union Ministry of Environment, Forest and Climate Change (MoEFCC) has granted Stage-1 (in-principle) approval for the diversion of mangrove forest land for the second phase of the Mumbai Coastal Road Project. This clearance marks a significant step forward for the Brihanmumbai Municipal Corporation (BMC), which is now preparing to approach the High Court for further approvals necessary to begin construction. The second phase of the project will span from Versova to Bhayandar.The project is expected to permanently impact approximately 8.24 hectare of mangrove forest land, with around 9,000 ..

Next Story
Infrastructure Transport

BMC to Receive 19.43 Hectares of Forest Land

The construction of twin tunnels beneath Sanjay Gandhi National Park in Borivali, part of Phase III of the Goregaon-Mulund Link Road (GMLR) Project, is set to progress following final approval from the Union Ministry of Environment, Forest and Climate Change (MoEF&CC). The approval allows the transfer of 19.43 hectares of forest land to the Brihanmumbai Municipal Corporation (BMC), enabling work on the 4.7 km long and 45.70 m wide twin tunnels. In response, BMC has initiated the compliance and clearance process as per the stipulated guidelines.The 12.20 km-long GMLR project, divided into f..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?