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Cement prices shows an uptick in March as demand grows

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Based on YoY comparison, pan India average cement price rose by 11%

Cement prices increased in March when compared to the previous month. After remaining relatively stable in the three months leading up to February, prices in March surpassed the November high.This could help cement companies offset the impact of higher input costs while also benefiting from increased demand.On a month-over-month basis, the pan India average cement price rose by over 10% to Rs 395 per 50 kg bag as of March 22, 2022, according to various brokerage reports based on dealer interactions. Based on a year-over-year comparison, it increased by 11%.Given the slow pace of project awarding and execution, as well as issues related to sand availability, the average price had peaked at Rs 385 per 50 kg in November over the previous 12 months, leaving cement makers little room to raise prices.Prices began to firm up again in March, according to sector trackers, as the sector enters a seasonally strong period for construction activities.Furthermore, the government’s speed in awarding road projects has accelerated. The rising cost of raw materials is expected to be alleviated by the buoyancy in cement prices.In the last three months, prices of key raw materials such as imported coal and petcoke have risen by as much as 50%.Analysts predict that cement consumption in the March quarter will be higher than in the previous quarter.Given the likelihood of increased demand, the full benefit of higher cement prices is expected to be reflected in cement companies’ financial performance beginning in the second quarter of 2022.Image Source


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Concrete

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

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