+
Indian cement companies set to raise prices from next month
Cement

Indian cement companies set to raise prices from next month

Based on interactions with channel partners, Indian cement manufacturers may announce discounts and schemes now to meet year-end volume targets, while raising prices early next month, according to Motilal Oswal Financial Services (MOFS).

Cement companies attempted price increases in February and March, but most of them were reversed by offering discounts, incentives, and price cuts. As a result, the all-India average cement price appears to be flat to marginally negative in 4QFY23 vs 3QFY23, according to IANS.

According to MOFS, cement manufacturers who use imported coal in their overall fuel mix will see a higher reduction in fuel costs than players who use more petcoke in the coming months.

According to MOFS' calculations, average fuel costs for the industry should fall by Rs 80-90/t in 4QFY23, followed by Rs 200/t in 1QFY24 (based on current coal/petcoke prices).

Based on interactions with channel partners, Indian cement manufacturers may announce discounts and schemes now to meet year-end volume targets, while raising prices early next month, according to Motilal Oswal Financial Services (MOFS). Cement companies attempted price increases in February and March, but most of them were reversed by offering discounts, incentives, and price cuts. As a result, the all-India average cement price appears to be flat to marginally negative in 4QFY23 vs 3QFY23, according to IANS. According to MOFS, cement manufacturers who use imported coal in their overall fuel mix will see a higher reduction in fuel costs than players who use more petcoke in the coming months. According to MOFS' calculations, average fuel costs for the industry should fall by Rs 80-90/t in 4QFY23, followed by Rs 200/t in 1QFY24 (based on current coal/petcoke prices).

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code