Cement demand in India is showing signs of weakness for the second month in a row. Cement despatches grew by 8.4% (YoY) in March 2010, slightly higher than the near 7% growth which was witnessed in February.
While these figures look impressive, they are they represent over a four point drop from the 12.6% growth witnessed during Dec-Jan FY10.
Overall, for the fiscal ended March 2010, the industry registered a 10.3% growth in despatches YoY. According to data from Cement Manufacturers’ Association (CMA) and companies, demand for cement grew to 19.6Mt in March as against 18.1Mt in the year-ago month and 17.1Mt in February 2010.