Mumbai cement prices may go up by Rs 5

Retail cement prices in Mumbai may rise by Rs 5 per 50 kg bag, while the prices in Gujarat are likely to jump up by Rs 10 per a 50 kg bag.

While prices in Mumbai will stand at Rs 173-175 after the increase in price, a 50 kg bag in Gujarat is expected to be quoted at Rs 160. Domestic cement majors are pushing for this price hike from March 1 on the back of a steady demand.

Cement analysts expect the price hike to be implemented in other parts of Maharashtra by the first week of March. Senior industry analysts also said that companies are contemplating a Rs 5-10 hike in retail cement prices in the southern markets, especially Tamil Nadu.

A leading cement stockist said, "The cement market in Mumbai and Gujarat have experienced a steady rise in demand in the last two months. However, there was a slight dip in the prices last week by Rs 2-3, which bounced back in this week."

While ruling prices in Gujarat are between Rs 145-150 per 50 kg bag, cement dealers in Gujarat said, "Demand has been on a continued rise in Gujarat with the Ahmedabad market leading the way. We are expecting the 50 kg bag to be quoted at Rs 160 from March 1."

Meanwhile, prices in Rajasthan and Delhi are also eyeing a hike of Rs 5 per 50 kg bag. Cement dealers in Gujarat said, "Demand has been on the rise in Gujarat and with real estate prices going up, cement prices are looking at firming up."