Cement prices rise in January
The second straight monthly rise in cement prices fell short of the usual seasonal strength seen in January as construction activity is yet to fully recover from a slump triggered by the Goods and Services Tax and a new housing law.
A bag of cement is now Rs 5 more expensive on an average compared to December pan-India, according to a report by Kotak Securities. All-India cement prices at Rs 328 per bag in January are yet to recover to August 2017 levels of Rs 339 per bag.
Cement prices fell for six straight months till November as the Real Estate Regulation Act and the GST hurt real estate demand, slowing down construction. The prices rose in December, signalling some improvement that continued in January, though still below the levels last seen in August.