Economy & Market

Cement demand slides due to monsoon gloom: Report

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Demand for cement has come down across regions in India, largely due to a pick up in monsoons, says a report by Edelweiss Securities. Over the month, cement prices have declined around Rs 3-60 per bag in the trade category and around Rs 5-50 per bag in the non trade category across regions.Edelweiss Securities said that the current all India average price is down approximately by 4 per cent. It said that the recent hike in diesel prices will increase freight costs for in the range of Rs 70-100 a tonne and the cement industry may pass it on to consumers.Cement industry despatches for August 2012 are estimated to have risen by just approximately by just one per cent Y-o-Y with a capacity utilisation of around 66 per cent.

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