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Dolat Capital Report
Cost pressure for cement sector which started from Q1 FY22, escalated to alarming level in last week due to ongoing geopolitical tussle (Russia-Ukraine war).
South African/ Australian coal prices sky rocketed by 74%/ 40% to $398/ $350 per ton in first three days of March 2022, which is higher than historic peak ($250/ $260 per ton for South African/ Australian) seen recently in October 2022.
Domestic petcoke (from Reliance Industries Ltd.) prices increased 24% month-on-month to Rs 17,980/tonne i.e. $238/tonne (still lower than its peak of Rs 20,781/tonne) for Mar-22 which may increase given uptick in coal prices.
But at current prices, use of domestic coal and petcoke to increase versus imported coal as being cheaper on Kcal basis.
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