Cement prices are expected to go down by Rs 2-3 per 50-kg bag in western markets, including Maharashtra and Gujarat, in the next three weeks, dealers and companies said. The construction material is now priced at around Rs 255 and Rs 260 in wholesale and retail markets, respectively.
They attributed the imminent price reduction to the weakness in the real estate industry, coupled with the excess capacity being built up due to cheap imports from Pakistan. Prices have witnessed a reduction of Rs 5 a bag last month in the northern markets due to excess supplies and faltering demand. Vinod Juneja, managing director, Binani Cement, told ET: “I was informed that three ships from Pakistan arrived last month and unloading cement in Mumbai, Pune and Nasik. There would be minor correction in the next few weeks.” An official of S Jamshedjee, which is a stockist of Birla White, ACC and Siddhi Cement, also confirmed the arrival of Pakistani cement. Local dealers are estimated to have sold nearly 50,000 tonne of Pakistani cement in the past few months in Mumbai