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Cement prices move up

Aug 11, 1999

According to newspaper reports, the cement prices in the north are likely to be raised by Rs 100 per tonne, as per an agreement reached between the cement companies. The rise in prices is the fall out of the increasing demand for cement. Cement prices have been registering a growth from November 1998 onwards. Except for a marginal fall in prices in January 1999, the prices have moved up from Rs 145 to Rs 170 per 50 kg bag (CMIE average prices), accompanied by larger volumes. The price hike translates into an increase of Rs 5 per 50 kg bag. This means that if the costs were to remain constant, the company's bottomline would improve by 3%.

The firmness in prices has continued despite the onset of the monsoon, which normally leads to a cooling off of cement demand within the country. However, sooner or later the construction activity would slow down (because of the onset of the monsoon) and this could lead to a temporary weakness in prices.

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