Coal news and updates

While cement prices have been affected in the southern and western markets, volume growth has been adversely impacted in all regions in November following demonetisation, rating agency Icra said on Wednesday.

 

“In the southern market, the prices have shown a decline of Rs 30/bag in October and November together, with the current prices hovering around Rs 300/bag. On an average, in the southern market, the cement prices during 8M FY2017 stood at around Rs 305/bag, lower by Rs 20/bag when compared to 8M FY2016,” Icra said in a statement, reports PTI.

 

A similar decline in prices post-demonetisation was witnessed in the western markets wherein the price, after having recovered by Rs 15/bag in October to Rs 265/bag, slipped to Rs 240/bag in November 2016. “On a Y-o-Y basis, the average cement price during 8M FY2017 around Rs 260/bag is down by Rs 10/bag, compared to 8M FY2016. The November prices for the East and the North remained stable at Rs 325/bag and Rs 335/bag, respectively,” it said.

Source:freepressjournal