Coal news and updates

Cement price hikes in April indicate impending volume growth and possibly better profitability for cement makers in the current quarter, analysts and company executives said.

 

Average cement prices nationwide picked up strongly in April, a 28 April report by Edelweiss Securities Ltd said. “Average all India prices rose 6.7% month-on-month led by Western and Southern markets where price jumped in double digits, followed by Eastern (up 6% month-on-month) and other regions,” the report said.

 

An Edelweiss survey showed cement offtake was robust in the East, stable in the North, and marginally weak in Uttar Pradesh due to sand shortage. Cement demand will rise 5-6% as the government awards more road projects, said K.K. Maheshwari, managing director of UltraTech Cement Ltd, India’s largest cement maker.

Source: Livemint