Cement Prices in India See Further Reduction in February, According to Nomura
A recent channel check by Nomura reveals a pan-India correction in cement prices by Rs 8 per bag in February 2024, with an anticipated improvement in demand.
According to a recent analysis conducted by Nomura, cement prices across India have experienced a further reduction of Rs 8 per bag in February 2024. This price adjustment follows a trend of moderating cement prices that began in October 2023. Despite this decrease, dealers have reported a slight improvement in demand compared to the previous month and anticipate further demand growth, driven by a volume push from companies during a seasonally strong quarter.
The southern region of India witnessed the most significant drop in cement prices, while the northern region saw the least decline. This ongoing moderation in prices comes at a time when the construction industry is entering a period of high activity, suggesting that companies are strategically adjusting prices to stimulate demand and capitalize on the seasonal peak in construction projects.
Watch the detailed analysis and insights on the current trends in the cement market in India on ET Now.
Source: ET Now
