Cement prices in east, south drop sharply in Oct
Cement prices have corrected sharply in East and South India in October. Dealer channel checks by Kotak Institutional Equities showed month-on-month (m-o-m) cement prices fell by Rs18/bag in east and by Rs16/bag in south. One cement bag weighs 50kg. State-wise, prices declined by Rs20-25/bag m-o-m in Andhra Pradesh/telangana. In the East, West Bengal and Assam saw a steep fall in prices of about Rs30/bag m-o-m. On the other hand, cement prices in north, central and west regions saw marginal changes. With that, cement prices in all regions except west are back to March 2017 levels, giving up most of the pricing gains seen in April 2017, said the broking firm. Meanwhile, all-india cement price declined by Rs8/bag m-o-m in October, maintaining the weak trend seen through the monsoon period.