India: cement prices fall, more cuts likely

India: cement prices fall, more cuts likely
Published: 11 September 2009

Sanjay Ladiwala, President of Cement Stockists and Dealers Association of Mumbai said that the cement prices had come down in trade segment by Rs 3 per bag and Mumbai prices had come down by Rs 5-8 per bag this month. The billing rate for traders was at Rs 255 per bag while retail buyer’s rate was at Rs 265 per bag. Western India prices were down nearly by Rs 5-7 per bag, he said. “Analysts say prices may further go down Rs 5-7 per bag.”

He foresees more correction towards the end of the month. Ladiwala said that South India had seen more pricing pressure on account of added capacities coming onstream. He sees some sluggishness in dispatches in South India. “Demand continues to be robust across regions.”

The negative effect of monsoon delay would be seen next year onwards, he said.