Indian prices seen declining
Cement prices in July have declined in most Indian states. A drop has been recorded in Andhra Pradesh where a 50kg bag of cement was down by about INR20-25, meanwhile in Hyderabad, prices have gone from INR320-330 in the Rayalseema districts to INR27-275 in the last week.
Even in the states of Karnataka, Maharashtra and Tamil Nadu, prices have seen a comparative fall of INR15-20. According to local press, there has been a sudden excess capacity created in the market with the launch of new brands – Jaypee Cements, JSW, Jaya Jyothi and Bhavya. Simaltaneously, demand has cooled. .
“The excess availability and low demand, coupled with the continuing shortage and high price of sand are instrumental in the drop in the cement prices,” according to S.V.S. Shetty, Chief Executive Officer, Anjani Portland Cement.