Cement prices go up 3% on housing boom, India

Cement prices go up 3% on housing boom, India
26 April 2005

Domestic cement companies raised prices in Mumbai by about three per cent as a housing boom and government spending on roads and bridges fueled demand, distributors said. Shares of cement companies gained.

Companies including ACC raised prices by about Rs 5 a 50kg  bag, said Nikesh Shah of Harjivandas Mohandas & Co, which sells its cement. Associated Cement raised prices to about Rs 177 ($4) a bag, he said.

Prices of cement are rising because of an increase in demand for homes spurred by the lowest home-loan rates in more than three decades. Construction is also getting a boost from the government’s spending on roads, ports and airports. The construction of roads, dams and bridges typically peaks before the onset of monsoon rains in June.

Published under Cement News