Cement: North region raises price by Rs50 per bag

MG News | June 16, 2022 at 03:34 PM GMT+05:00

0:00

June 16, 2022 (MLN): Amid soaring international coal prices, supply chain concerns on Russia-Ukraine chaos and PKR depreciation, cement manufacturers in the North region have increased cement prices by Rs50/bag, effective from June 16, 2022.

Sharing the aforesaid information on Twitter, Topline Securities said, “The new price in the North region is in the range of Rs980-1010/bag, as per channel checks.”

“We expect a similar price hike in the south region soon,” it added.

Meanwhile, it is important to note that this is the second hike in the month of June so far.

The last price hike was witnessed on June 3, 2022, when the North region had increased cement prices by Rs20/bag after which South players had also announced a price hike of Rs25 per bag.

As per the latest available data, Cement despatches declined by 16% YoY and 6% MoM to 3.3mn tons in May 2022 as slow disbursement of PSDP coupled with massive PKR depreciation and rising prices of petroleum products, electricity and coal, kept the cement demand under pressure.

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