Cement prices are likely to go up by Rs 3-Rs 5 from Saturday onwards in Mumbai, India, according to reliable sources. The move comes a month after cement manufacturers assured Union commerce minister Kamal Nath on May 15 that they will not hike prices further.
This is the fifth time in the last six months that cement prices are going up in Mumbai, India’s largest cement market. Cement was selling around Rs 175-Rs 190 in January, while at present it is selling at around Rs 225-Rs 240 for a 50-kg bag. Following a complaint from builders, Mr Nath on May 11 had asked cement companies to moderate prices. This was followed by cement manufacturers promising a 5% discount to central government supplies.