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Systematix Research Report
Our recent channel checks across 15 cities indicate an average all-India cement price fall of ~Rs 8/bag on month-on-month basis in August 2022.
Prices in North, East and Central regions likely fell by Rs 10-15/bag, with South and West India likely seeing flat to marginal drop in prices.
Cement companies had to roll back their attempts to increase prices at the beginning of Aug-22 due to lower demand.
We attribute our estimated 10-15% fall in average demand in Aug-22 (pan India) to sand mining-related issues and heavy rains and labour issues. However, the relatively better demand in Aug-22 versus June and July-22 was due to the drop in steel prices, and uptick in pre-monsoon demand.
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