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| Cement prices move up in Nov, to remain flat in Dec |
| Press Trust of India / New Delhi Dec 13, 2011, 19:20 IST |
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Buoyed by increasing demand, cement prices moved up Rs 9 to Rs 289 per bag of 50 kg in November but are expected to stay at the current level this month, Crisil Research said.
In October, a cement bag of 50 kg cost Rs 280.
"Average retail prices of cement increased by about three% month-on-month to Rs 289 per bag, and by almost 17% year-on-year," Crisil Research said in a report.
The price of cement had gone up by 6% in October to Rs 280 per bag over the previous month. It further hardened by over 3% last month.
Crisil added, however, "In the light of the steep rise in prices over the past nine months, the tempo of price increase is likely to slow. We, therefore, expect prices to stay at current levels in December, 2011."
The demand for building material would, however, continue to gain traction during the remaining period of the current fiscal, Crisil said.
"With an increase in the pace of construction activity, cement demand rose by about 19% year-on-year during November, over a low base," it said.
The demand for cement generally goes up after the festive season as construction activity gathers momentum.
India's cement consumption rose by 18.9% during November to 17.7 million tonne from 14.9 million tonne in the year-ago period.
During the April-November period of the current fiscal, India's total cement consumption was 140.5 million tonne, up 4.9% over the same period in the last fiscal.
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