Cement prices likely to dip by INR20/bag in Mumbai

Cement prices likely to dip by INR20/bag in Mumbai
Published: 14 October 2008

The dipping stock markets and fall in the real estate prices are going to have a strong effect on the cement industry. Even though there hasn’t been much change in the cement prices, stockists and dealers say that the prices will dip in two months as much as about INR20/bag in Mumbai, one of the biggest markets for cements.

"Our sales have gone down by almost 90 per cent with the slow down in constructions and repair works," said Anwarbhai Chunawala, who runs a wholsesale trade in Pydhonie area of the city. "The fall in the share markets has impacted the realty sector, which in turn is having an effect on the cement demand," he added.

However, the proprietor of Pragati Lime Centre in Girgaum, who deals in Ambuja Cement and L&T, was expecting a correction in prices by early next year. "Even if the prices of cement dip by about INR20 in the next two months, the prices will hike in the next year and touch INR300/bag," he said.