Cement prices drop
The Hindu
‘Retailers unable to identify reasons for slump in demand’
Last one week has seen a drop of ₹40 to ₹50 per 50 kg bag of cement across all brands in retail market owing to lower demand.
While the dealers themselves were not sure why the demand fell, the cement companies expressed concern that the cost pressure on them mounted due to escalating coal and fuel prices.
According to Mr. M. Ravinder Reddy, Director, Bharati Cement, the drop in retail prices might be a temporary phase as the movement of stocks had come to a standstill due to floods in Andhra Pradesh, Tamil Nadu, Karnataka and Kerala last month. As a result, the volume of offtake from plants fell drastically.
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