Cement prices in southern India have advanced around 18 per cent YoY to INR393/bag (US$5.3) in the 3QFY20-21, according to Motilal Oswal. On a QoQ basis, prices are flat as hikes in November 2020 have offset the decline seen in the September-October period. The strong prices in the region have been attributed to strong production discipline in the face of weak volumes.
Prices in the north, west and central India are up seven, six and five per cent YoY, respectively. In the 3QFY21, the average price is up by around seven per cent YoY to INR360/bag.
Sales volumes are also reportedly growing over 10 per cent YoY in north, east and central regions, while demand has remained weak in the south and Maharashtra.
