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Reliance Securities Report
Cement demand remained soft for the second consecutive month, with most regions witnessing a demand contraction month-on-month, especially in the trade segment.
Notably, festivals led labor shortage, unseasonal rains in various locations, sharp spike in key construction materials like sand, blocks, bricks etc., pollution-led construction ban and harvesting impacted demand in November 2021.
Most dealers cited that with the recent drop in prices and improved availability of labor and harvesting getting over, demand momentum in December is likely to be strong, despite an extreme winter. However, non-trade demand continued to remain steady.
On the positive side, all four key demand drivers -- housing, infrastructure, industrial and commercial segments started contributing to cement demand, which certainly augurs well for the cement industry in the long run, and should also aid pricing power of the industry.
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