Cement price hikes on expected lines

    Cement Price HIke
    Cement companies have announced price hikes in some regions in anticipation of good demand after the end of the rainy season. While prices are increased around this time every year, this time around it also has to do with a steep surge in petroleum coke (petcoke) prices.

    It must be noted that the recent hikes are on expected lines, and may be enough to only cover increased costs. A recent ICICI Securities Ltd. report said, petcoke prices have risen by nearly 80% over the past six months, which is likely to impact margins in a seasonally weak period, and the brokerage firm expects it to be passed on to consumers in the medium term. Companies have announced price hikes of Rs. 10-50/bag across most regions in September 2016, mainly on reversal of price fall during monsoon, the report added. Prices in western, eastern and southern parts of India have seen a rise while prices in central and northern India remain more or less stable, say some analysts. Some experts such as Amey Joshi, associate director at India Ratings and Research Pvt. Ltd, say that prices may increase further in October.
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