India sees weak November pricing environment

Indian cement prices saw corrections in most regions in November, with the central, eastern and northern areas witnessing the steepest falls, the Economic Times of India reports.

Cement prices traditionally pick-up following the monsoon season and October saw a slight improvement in prices nationwide with the same was expected in November. However, bleak demand in Kolkata led to a correction in prices of INR12 to INR350/bag (US$6.41) which was lower than the peak price of INR390/bag. Prices in Delhi fell by 10 per cent to INR295/bag due to poor demand, A shortage of sand led to a slight decline in Punjab to INR280/bag.

Western and Southern regions witnessed flat month on month cement prices with Hyderabad being an exception, where the prices increased by 12 per cent to INR300 /bag despite weak demand. Realisations were expected to improve in Southern and Western regions as well, however, cyclone Nilam impacted the demand situation and hence the flat price.