Cement prices may go up by ₹ 9 per 50 kg this month
Cement prices may go up by ₹ 9 per 50 kg this month
New Delhi: The price of a 50-kg bag of cement may go up by as much as ₹ 9 this month as the new coal pricing mechanism adopted by Coal India has increased the production cost for makers of the building material, Crisil Research said on Monday.
Deviating from its earlier practice, CIL started pricing coal on the basis of gross calorific value - the energy produced by burning it - with effect from January this year. Earlier, the price of coal was fixed on the basis of the moisture and ash content present in coal.
The average price of a 50-kg bag of cement fell by 1% in December vis-a-vis November to ₹ 285, despite strong 13.4% growth in demand vis-a-vis the corresponding month last year to 20 million tonnes.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!