The cement industry, which had been reeling under price pressure through monsoon, has raised prices across the country from October 1. Prices have shot up by Rs 5-10 per 50-kg bag.
A senior member of the Cement Stockists and Dealers Association in Mumbai, said “cement prices in Mumbai have risen by Rs 5, while the rest of Maharashtra and Gujarat witnessed a rise of Rs 10 per 50-kg bag.”
Cement prices in Mumbai have escalated to Rs 276 per bag for wholesale buyers and retail prices have increased to Rs 280-282 per bag.
Though western markets have always felt the heat due to incremental supply coming from the southern region, dealers vouch that this year supply has been less and thus manufacturers will be able to raise prices in the near term.
“Prices across the country increased by Rs 10, but southern region has not been able to take much advantage of it as there was hardly any fall during the monsoon. So the price rise is not expected much in Chennai and near by region,” said a senior analyst from a domestic brokerage firm.
In Kolkata too, prices increased by Rs 10 per bag to Rs 300 per bag for the retail buyers and for wholesale buyers prices are in the range of Rs 295-296 per 50-kg bag.
“Prices in Delhi have increased to Rs 270 and in Uttar Pradesh to Rs 290 from earlier Rs 280 in the wholesale segment. In the central region too prices have increased to Rs 280 per bag. We expect production cut again to make up for margins for the third quarter. This quarter, manufacturers would not be able to put up better numbers as prices had come down during monsoon and so did the sales,” an analyst said.
