Indian cement firms hike prices in Mumbai

Indian cement firms hike prices in Mumbai
Published: 31 January 2006

Top cement producers have raised retail prices by an average 2 rupees per bag in Mumbai, the country’s largest cement market, from Monday because of strong demand from the housing sector, a dealer said on Tuesday. Retail cement prices have gone up to 185-188 rupees per 50-kg bag, he said. "Demand is very strong and companies have stopped giving out discounts," the dealer told Reuters. He said the prices for bulk buyers have climbed 5-10 rupees this month to 168-170 rupees per 50-kg bag (approx US$76.5/tonne)

Associated Cement Companies, Gujarat Ambuja Cements, Grasim and UltraTech Cement are the leading suppliers in Mumbai, which consumes about 400,000 tonnes of cement a month.