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Cement prices may soon dip on supply glut
Published on 19 Sep. 2009 11:59 PM IST
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ACC, Ambuja Cements and Grasim Industries may soon cut cement prices as the commissioning of new plants has improved supplies and a late monsoon has slowed construction activities, thereby affecting demand, say cement dealers. According to the Cement Manufacturers’ Association (CMA), about 110 million tonne of capacity could be added at an investment of about Rs 50,000 crore over the next three years. “We still expect a healthy demand, but prices could come down by Rs 5 per bag in the next few weeks and another 4% by December depending on capacity additions,” said Ajay Kapur, head (commercial and marketing) of Ambuja Cements. A drop of Rs 5 will bring retail prices to Rs 260 per 50 kg bag in Mumbai, Gujarat and the Southern India and to around Rs 250 a bag in the northern and eastern parts of the country.

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